November 30, 2016 - By Linda Rogers
42,306 shares of Corning Inc Ny were unloaded by Lisa Ferrero, the corporation’s Senior Vice President & CAO. These insider shares are valued at about $1,027,993 which has been calculated on the basis of the average transactions stock price ($24.3 for share). Right now, Lisa Ferrero owns a total of 9,963 shares or 0.00% of the Company’s total market capitalization.
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. RBC Capital Markets maintained the shares of GLW in a report on Friday, September 25 with “Outperform” rating. Goldman Sachs reinitiated Corning Incorporated (NYSE:GLW) on Friday, September 25 with “Neutral” rating. The firm earned “Buy” rating on Monday, June 20 by Citigroup. The stock has “Neutral” rating given by JP Morgan on Thursday, December 17. The rating was downgraded by Drexel Hamilton to “Sell” on Friday, June 10. Drexel Hamilton maintained the shares of GLW in a report on Tuesday, January 26 with “Hold” rating. The stock has “Neutral” rating given by UBS on Wednesday, October 28. The rating was maintained by RBC Capital Markets on Wednesday, October 28 with “Outperform”. As per Tuesday, September 29, the company rating was maintained by Barclays Capital. As per Tuesday, September 15, the company rating was initiated 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.
The New York-based Sg Americas Limited Company has invested 0.02% in Corning Incorporated (NYSE:GLW). Washington Bancorp has invested 0.19% of its portfolio in Corning Incorporated (NYSE:GLW). Point72 Asia (Hong Kong) reported 300 shares or 0.01% of all its holdings. Moreover, Bradley Foster Sargent Ct has 0.01% invested in Corning Incorporated (NYSE:GLW) for 12,776 shares. National Bank & Trust last reported 50,610 shares in the company. Tradewinds Management Ltd Liability Corp accumulated 0.04% or 2,379 shares. Stonebridge Cap Mngmt has 0.1% invested in the company for 11,231 shares. Todd Asset Management Ltd Com holds 562,373 shares or 0.37% of its portfolio. Capstone Asset Management last reported 92,511 shares in the company. Conning holds 0.02% or 28,777 shares in its portfolio. Liberty Mutual Group Inc Asset Inc last reported 72,458 shares in the company. Nbt Commercial Bank N A Ny accumulated 0.15% or 40,613 shares. Diam Co Ltd accumulated 154,424 shares or 0.05% of the stock. Capital One Association last reported 17,446 shares in the company. Pzena Investment Mngmt Limited Com accumulated 0.46% or 3.57M shares.
Insider Transactions: Since June 7, 2016, the stock had 0 insider buys, and 30 sales for $27.42 million net activity. $423,000 worth of Corning Incorporated (NYSE:GLW) was sold by Morse David L on Wednesday, September 28. On Wednesday, August 10 the insider Ferrero Lisa sold $1.10 million. Shares for $412,020 were sold by Curran Martin J. GREGG KIRK P sold 24,000 shares worth $502,414. Another trade for 27,000 shares valued at $603,477 was made by ROGUS MARK S on Monday, August 1. Clappin James P sold $720,000 worth of stock. $776,469 worth of Corning Incorporated (NYSE:GLW) was sold by McRae Lawrence D on Tuesday, November 22.
The stock decreased 0.58% or $0.14 during the last trading session, hitting $24.03. About 7.85 million 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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By Linda Rogers