Corning Incorporated (NYSE:GLW) Shares Sold by Dupont Capital Management Corp

Share on StockTwits

Dupont Capital Management Corp decreased its position in Corning Incorporated (NYSE:GLW) by 1.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,182 shares of the electronics maker’s stock after selling 405 shares during the quarter. Dupont Capital Management Corp’s holdings in Corning were worth $575,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in Corning by 700.0% in the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,400 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 1,225 shares during the last quarter. First Command Bank increased its stake in Corning by 49.4% in the second quarter. First Command Bank now owns 1,164 shares of the electronics maker’s stock valued at $30,000 after purchasing an additional 385 shares during the last quarter. First PREMIER Bank increased its stake in Corning by 303.3% in the second quarter. First PREMIER Bank now owns 1,210 shares of the electronics maker’s stock valued at $31,000 after purchasing an additional 910 shares during the last quarter. Watson Rebecca purchased a new position in Corning in the second quarter valued at approximately $32,000. Finally, FinTrust Capital Advisors LLC increased its stake in Corning by 41.6% in the first quarter. FinTrust Capital Advisors LLC now owns 2,102 shares of the electronics maker’s stock valued at $43,000 after purchasing an additional 618 shares during the last quarter. 72.96% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:GLW opened at $31.00 on Friday. The company has a market capitalization of $23.59 billion, a PE ratio of 22.96, a price-to-earnings-growth ratio of 13.89 and a beta of 1.10. The company has a quick ratio of 1.44, a current ratio of 2.27 and a debt-to-equity ratio of 0.79. Corning Incorporated has a 52-week low of $17.44 and a 52-week high of $31.82. The stock has a fifty day simple moving average of $27.43 and a 200-day simple moving average of $24.73.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.13. The business had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.41 billion. Corning had a return on equity of 11.59% and a net margin of 1.89%. The business’s revenue was down 11.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.45 EPS. As a group, equities analysts anticipate that Corning Incorporated will post 1.2 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, August 28th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date is Thursday, August 27th. Corning’s dividend payout ratio is presently 50.00%.

In related news, CEO Wendell P. Weeks sold 94,928 shares of Corning stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $31.07, for a total transaction of $2,949,412.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Lawrence D. Mcrae sold 28,994 shares of Corning stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $31.67, for a total value of $918,239.98. Following the sale, the insider now owns 169,128 shares of the company’s stock, valued at approximately $5,356,283.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 186,762 shares of company stock valued at $5,812,645. 0.47% of the stock is currently owned by company insiders.

GLW has been the topic of a number of research reports. Barclays raised their target price on shares of Corning from $22.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Wednesday. JPMorgan Chase & Co. upgraded shares of Corning from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $25.00 to $36.00 in a research report on Thursday, July 16th. Morgan Stanley raised their target price on shares of Corning from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 10th. Citigroup lifted their price objective on shares of Corning from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Oppenheimer assumed coverage on shares of Corning in a research report on Tuesday, July 28th. They issued a “hold” rating on the stock. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Corning currently has an average rating of “Hold” and a consensus target price of $31.90.

About Corning

Corning Incorporated engages in display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses worldwide. The company's Display Technologies segment manufactures glass substrates for organic light-emitting diodes and liquid crystal displays used in televisions, notebook computers, and flat panel desktop monitors.

Further Reading: Profit margin is different from the revenue

Institutional Ownership by Quarter for Corning (NYSE:GLW)

Receive News & Ratings for Corning Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corning and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Sumitomo Mitsui Trust Holdings Inc. Has $50.07 Million Stock Position in United Rentals, Inc.
Sumitomo Mitsui Trust Holdings Inc. Has $50.07 Million Stock Position in United Rentals, Inc.
Sumitomo Mitsui Trust Holdings Inc. Trims Position in Brown & Brown, Inc.
Sumitomo Mitsui Trust Holdings Inc. Trims Position in Brown & Brown, Inc.
Assenagon Asset Management S.A. Invests $221,000 in Ionis Pharmaceuticals Inc
Assenagon Asset Management S.A. Invests $221,000 in Ionis Pharmaceuticals Inc
Corning Incorporated  Shares Sold by Dupont Capital Management Corp
Corning Incorporated Shares Sold by Dupont Capital Management Corp
Nissay Asset Management Corp Japan ADV Makes New Investment in Apollo Global Management LLC
Nissay Asset Management Corp Japan ADV Makes New Investment in Apollo Global Management LLC
Nisa Investment Advisors LLC Sells 8,050 Shares of Universal Health Services, Inc.
Nisa Investment Advisors LLC Sells 8,050 Shares of Universal Health Services, Inc.


© 2006-2020 Ticker Report