The company is now up from yesterday’s close of $30.33. The stock last traded at $30.70 which is just a bit higher than $29.46, the stock’s 50 day moving average and a bit higher than the 200 day moving average of $27.34. The 50 day moving average was up $1.32 or +4.479% and the 200 day average moved up $3.44.
Here is the rundown on market activity for Corning Incorporated (NYSE:GLW). Chairman Wendell P. Weeks disclosed the sale of 153,500 shares. The shares were purchased at an average price of $29.58. Weeks now owns $0 of the stock according to the SEC filing. Lisa Ferrero, Senior Vice President & CAO disclosed the sale of 56,500 shares of GLW stock. The shares were sold on May 22nd for an average price of $29.09. The Senior Vice President & CAO now owns $0 of the stock per the Form 4 SEC filing.
Sr VP Lewis A. Steverson sold 30,000 shares at an average price of $29.00 on May 19th. That brings the Sr VP’s holdings to $111,911 as reported to the SEC.
Corning Incorporated (Corning), launched on December 24, 1936, is involved in manufacturing specialty glass and ceramics. The Business’s segments include Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, Life Sciences and All Other. The Company provides glass for notebook computers, flat panel desktop monitors, liquid crystal display (LCD) televisions, and other information display applications; carrier network and enterprise network products for the telecommunications industry; ceramic substrates for gasoline and diesel engines in automotive and heavy duty vehicle markets; laboratory products for the scientific community and specialized polymer products for biotechnology applications; optical materials for the semiconductor industry and the scientific community, and other technologies. As of December 31, 2016, the Company had manufactured products at 98 plants in 17 countries..
These funds have also shifted positions in (GLW). Gateway Investment Advisers LLC expanded its holdings by buying 1,538 shares an increase of 0.2% as of 06/30/2017. Gateway Investment Advisers LLC now holds 911,604 shares valued at $27,394,000. The value of the position overall is up by 11.5%. Churchill Management Corp grew its position by buying 88,372 shares an increase of 71.4% in the quarter. Churchill Management Corp currently owns 212,211 shares with a value of $6,377,000. The total value of its holdings increased 90.7%.
Pennsylvania Trust Co added to its ownership by buying 31,889 shares an increase of 40.8% from 03/31/2017 to 06/30/2017. Pennsylvania Trust Co owns 110,142 shares worth $3,310,000. The total value of its holdings increased 56.6%. Union Bankshares Corp augmented its stake by buying 331 shares an increase of 2.7%. Union Bankshares Corp claims 12,644 shares valued at $380,000. The value of the position overall is up by 14.5%.
November 2 investment analysts at Goldman Sachs left the stock rating at “Buy” but raised the price target to $27.00 from $26.00. On August 26 Citigroup held the stock rating at “Buy” and moved up the price target from $23.00 to $26.00.
July 28 investment analysts at UBS kept the company rating at “Neutral” but raised the price expectation to $21.50 from $18.00. On June 13, 2016 the stock rating was set at “” according to a Standpoint Research report which is down from the previous “Hold” rating.
On June 10 the company was changed to a “Sell” by Drexel Hamilton which was a cut from the previous “Hold” rating. On April 12 the company was upgraded from “Neutral” to “Buy” and a price target of $26.00 was set in a statement from Goldman Sachs.
Corning Incorporated announced a dividend for shareholders paid on Friday June 30th, 2017. The dividend was $0.155 per share for the quarter which is $0.62 annualized. The dividend yield was $2.05. The ex-dividend date was set for Friday the 26th of May 2017.
The company currently has a P/E ratio of 8.159 and market cap is 28.32B. In the last earnings report the EPS was $3.77 and is projected to be $1.73 for the current year with 920,231,000 shares now outstanding. Next quarter’s EPS is forecasted at $0.45 and the next full year EPS is anticipated to be $1.88.