November 30, 2016 - By olga
The insider, and Corning Inc Ny’s Senior VP – Human Resources, Christine Pambianchi, made a sale of 27,000 company shares on 30-11-2016, valued by the market at about $655,069 (at $24.3 per share). Today, Christine Pambianchi has ownership of 50,425 shares or 0.01% of Corning Inc Ny’s total market cap.
Out of 10 analysts covering Corning Incorporated (NYSE:GLW), 5 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 50% are positive. $27 is the highest target while $15.75 is the lowest. The $21.86 average target is -9.03% below today’s ($24.03) stock price. Corning Incorporated has been the topic of 19 analyst reports since July 30, 2015 according to StockzIntelligence Inc. As per Friday, August 26, the company rating was maintained by Citigroup. The firm earned “Neutral” rating on Wednesday, October 28 by UBS. The firm earned “Outperform” rating on Friday, September 25 by RBC Capital Markets. The rating was initiated by Citigroup on Monday, June 20 with “Buy”. The stock has “Overweight” rating given by Barclays Capital on Tuesday, September 29. Sterne Agee CRT initiated the stock with “Neutral” rating in Tuesday, September 29 report. On Friday, October 9 the stock rating was initiated by Drexel Hamilton with “Hold”. Goldman Sachs maintained the shares of GLW in a report on Wednesday, November 2 with “Buy” rating. RBC Capital Markets maintained the stock with “Outperform” rating in Wednesday, October 28 report. As per Wednesday, October 26, the company rating was maintained by Deutsche Bank.
Insitutional Activity: The institutional sentiment increased to 0.75 in 2016 Q2. Its up 0.09, from 0.66 in 2016Q1. The ratio is positive, as 52 funds sold all Corning Incorporated shares owned while 339 reduced positions. 49 funds bought stakes while 208 increased positions. They now own 745.73 million shares or 5.03% less from 785.22 million shares in 2016Q1.
Metropolitan Life Insur Ny holds 560,727 shares or 0.09% of its portfolio. Gotham Asset Ltd Liability owns 292,428 shares or 0.07% of their US portfolio. Morgan Dempsey Ltd Liability Company reported 89 shares or 0% of all its holdings. State Street has 0.1% invested in the company for 44.25M shares. Salem Cap Mngmt last reported 2.3% of its portfolio in the stock. Calvert Inc accumulated 0.06% or 58,720 shares. Prudential Fincl Inc accumulated 0.06% or 1.69 million shares. Dimensional Fund Advsrs L P last reported 7.89M shares in the company. United Advisers Limited Com accumulated 46,360 shares or 0.01% of the stock. Texas Yale Cap has 0.04% invested in the company for 20,100 shares. Canada Pension Plan Board has 0.05% invested in the company for 626,509 shares. Cornerstone Advisors has 960 shares for 0.02% of their US portfolio. Old Mutual Customised Solutions (Proprietary) Limited reported 28,000 shares or 0.14% of all its holdings. Westover Limited Co, a Delaware-based fund reported 44,266 shares. Advisors Asset has 57,527 shares for 0.02% of their US portfolio.
Insider Transactions: Since June 7, 2016, the stock had 0 insider purchases, and 30 selling transactions for $27.42 million net activity. Another trade for 27,000 shares valued at $603,477 was made by ROGUS MARK S on Monday, August 1. $1.10M worth of shares were sold by Ferrero Lisa on Wednesday, August 10. Shares for $207,000 were sold by Morse David L on Thursday, August 11. $330,000 worth of Corning Incorporated (NYSE:GLW) was sold by Clappin James P. WEEKS WENDELL P had sold 204,750 shares worth $4.72 million on Wednesday, October 26. 9,000 shares with value of $196,740 were sold by Curran Martin J on Thursday, July 28. Kinlin Clark S also sold $1.53 million worth of Corning Incorporated (NYSE:GLW) shares.
The stock decreased 0.60% or $0.14 during the last trading session, hitting $24.03. About 7.76M shares traded hands. Corning Incorporated (NYSE:GLW) has risen 25.23% since April 27, 2016 and is uptrending. It has outperformed by 20.01% the S&P500.
Corning Incorporated is engaged in the manufacture of specialty glass and ceramics. The company has a market cap of $22.83 billion. The Firm operates in five divisions: Display Technologies, which makes glass substrates; Optical Communications, which is engaged in providing optical solutions; Environmental Technologies, which makes ceramic substrates and filter products; Specialty Materials, which makes products that provide over 150 material formulations for glass, glass ceramics and fluoride crystals, and Life Sciences segment, which is a developer, maker and supplier of scientific laboratory products. It has a 12.63 P/E ratio. The Display Technologies segment develops, makes and supplies glass substrates using a fusion manufacturing process.
According to Zacks Investment Research, “Corning Incorporated creates leading-edge technologies for the fastest-growing markets of the world’s economy. Corning manufactures optical fiber, cable and photonic products for the telecommunications industry; and high-performance displays and components for television and other communications-related industries. The company also uses advanced materials to manufacture products for scientific, semiconductor and environmental markets. (Company Press Release)”
Analysts await Corning Incorporated (NYSE:GLW) to report earnings on January, 24. They expect $0.42 earnings per share, up 23.53% or $0.08 from last year’s $0.34 per share. GLW’s profit will be $399.03M for 14.30 P/E if the $0.42 EPS becomes a reality. After $0.42 actual earnings per share reported by Corning Incorporated for the previous quarter, Wall Street now forecasts 0.00% EPS growth.
Another recent and important Corning Incorporated (NYSE:GLW) news was published by Stargazette.com which published an article titled: “Corning Inc. veterans honored at company ceremony” on November 15, 2016.
Corning Incorporated (Corning), incorporated on December 24, 1936, is engaged in the manufacture of specialty glass and ceramics. Corning operates in five divisions: Display Technologies, which makes glass substrates; Optical Communications, which is engaged in providing optical solutions; Environmental Technologies, which makes ceramic substrates and filter products; Specialty Materials, which makes products that provide over 150 material formulations for glass, glass ceramics and fluoride crystals, and Life Sciences segment, which is a developer, maker and supplier of scientific laboratory products. The Firm makes and processes products at approximately 90 plants in over 20 countries. Corning offers its products under the trademarks, including Corning, Celcor, ClearCurve, DuraTrap, Eagle XG, Epic, Gorilla, HPFS, Pyrex, Steuben, Falcon, SMF-28e and Willow.
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