November 30, 2016 - By Richard Conner
Hansel Tookes, the director of Corning Inc Ny made deal for 1,985 shares with the average stock price of $24.3 in the public company, that are having a total value $48,323 USD. Hansel Tookes at present holds 0.00% of the company’s total market capitalization with ownership of 10,000 shares.
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. The firm has “Neutral” rating given on Tuesday, September 29 by Sterne Agee CRT. The stock of Corning Incorporated (NYSE:GLW) earned “Buy” rating by Goldman Sachs on Wednesday, November 2. The rating was maintained by Citigroup on Friday, August 26 with “Buy”. The rating was reinitiated by Goldman Sachs on Friday, September 25 with “Neutral”. RBC Capital Markets maintained the stock with “Outperform” rating in Wednesday, October 28 report. The stock of Corning Incorporated (NYSE:GLW) has “Hold” rating given on Tuesday, January 26 by Drexel Hamilton. As per Friday, October 9, the company rating was initiated by Drexel Hamilton. As per Tuesday, September 15, the company rating was initiated by Deutsche Bank. Goldman Sachs upgraded it to “Buy” rating and $26 target price in Tuesday, April 12 report. RBC Capital Markets maintained it with “Outperform” rating and $21 target price in Friday, September 25 report.
Insitutional Activity: The institutional sentiment increased to 0.75 in Q2 2016. Its up 0.09, from 0.66 in 2016Q1. The ratio increased, 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.
Envestnet Asset Inc accumulated 0.04% or 430,201 shares. Voya Inv Management Ltd Liability Company holds 0.02% of its portfolio in Corning Incorporated (NYSE:GLW) for 390,787 shares. Carret Asset Management Lc holds 0.86% or 217,653 shares in its portfolio. Quantitative Inv Mngmt Ltd Liability has 346,400 shares for 0.33% of their US portfolio. Chemical Bankshares accumulated 0.22% or 78,055 shares. Commonwealth Of Pennsylvania School Empls Retrmt System accumulated 86,101 shares or 0.03% of the stock. Advsr Cap Limited Co owns 459,320 shares or 0.96% of their US portfolio. Capital Invest Counsel reported 60,170 shares or 0.64% of all its holdings. Moreover, Assetmark has 0% invested in Corning Incorporated (NYSE:GLW) for 1,854 shares. Blackrock Invest Mngmt Limited Liability Com holds 1.97 million shares or 0.05% of its portfolio. Holowesko Ptnrs Ltd has invested 3.75% of its portfolio in Corning Incorporated (NYSE:GLW). Hudson Valley Invest Advisors Adv owns 113,807 shares or 0.75% of their US portfolio. Culbertson A N Com has invested 0.86% of its portfolio in Corning Incorporated (NYSE:GLW). The Pennsylvania-based Concannon Wealth Mngmt Limited Liability Com has invested 2.97% in Corning Incorporated (NYSE:GLW). The Delaware-based Dupont Capital has invested 0.08% in Corning Incorporated (NYSE:GLW).
Insider Transactions: Since June 7, 2016, the stock had 0 insider buys, and 30 insider sales for $27.42 million net activity. WEEKS WENDELL P sold $4.72M worth of stock or 204,750 shares. Shares for $502,414 were sold by GREGG KIRK P. Shares for $147,366 were sold by Schlesinger Edward A. On Monday, August 8 the insider Curran Martin J sold $412,020. Tripeny R Tony had sold 7,500 shares worth $158,777 on Tuesday, June 7. 66,667 shares were sold by Kinlin Clark S, worth $1.53 million on Thursday, October 27. Clappin James P sold 15,000 shares worth $330,000.
The stock decreased 0.58% or $0.14 during the last trading session, hitting $24.03. About 7.77M 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 EPS, 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 EPS 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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