Personal CFO Solutions LLC Acquires 1,911 Shares of Corning Incorporated (NYSE:GLW)

Personal CFO Solutions LLC grew its holdings in Corning Incorporated (NYSE:GLW) by 35.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,309 shares of the electronics maker’s stock after acquiring an additional 1,911 shares during the period. Personal CFO Solutions LLC’s holdings in Corning were worth $347,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund raised its position in Corning by 0.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 66,063 shares of the electronics maker’s stock worth $3,139,000 after acquiring an additional 204 shares during the period. Principal Securities Inc. raised its position in Corning by 3.5% in the fourth quarter. Principal Securities Inc. now owns 6,170 shares of the electronics maker’s stock worth $293,000 after acquiring an additional 211 shares during the period. Bogart Wealth LLC raised its position in Corning by 18.3% in the fourth quarter. Bogart Wealth LLC now owns 1,419 shares of the electronics maker’s stock worth $67,000 after acquiring an additional 219 shares during the period. Buffington Mohr McNeal raised its position in Corning by 2.1% in the fourth quarter. Buffington Mohr McNeal now owns 10,461 shares of the electronics maker’s stock worth $497,000 after acquiring an additional 220 shares during the period. Finally, Allworth Financial LP raised its position in shares of Corning by 1.1% during the 4th quarter. Allworth Financial LP now owns 19,581 shares of the electronics maker’s stock valued at $930,000 after purchasing an additional 220 shares during the period. 69.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the stock. StockNews.com downgraded shares of Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Morgan Stanley raised their price objective on shares of Corning from $39.00 to $48.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. Citigroup raised their price objective on shares of Corning from $55.00 to $58.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Barclays decreased their price objective on shares of Corning from $53.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Finally, Hsbc Global Res upgraded shares of Corning from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 30th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Corning currently has an average rating of “Moderate Buy” and a consensus price target of $53.00.

Corning Stock Performance

GLW opened at $45.00 on Tuesday. Corning Incorporated has a fifty-two week low of $30.72 and a fifty-two week high of $55.33. The stock has a market capitalization of $38.55 billion, a price-to-earnings ratio of 77.59, a PEG ratio of 1.50 and a beta of 1.03. The company has a fifty day moving average of $50.01 and a 200 day moving average of $47.40. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.62.

Corning (NYSE:GLW) last issued its quarterly earnings data on Wednesday, January 29th. The electronics maker reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.01. Corning had a net margin of 3.86% and a return on equity of 15.10%. As a group, sell-side analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be issued a $0.28 dividend. The ex-dividend date is Friday, February 28th. This represents a $1.12 annualized dividend and a dividend yield of 2.49%. Corning’s dividend payout ratio (DPR) is presently 193.10%.

Insider Transactions at Corning

In other news, COO Eric S. Musser sold 30,000 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $51.92, for a total value of $1,557,600.00. Following the completion of the sale, the chief operating officer now owns 152,944 shares in the company, valued at approximately $7,940,852.48. This trade represents a 16.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael Alan Bell sold 2,209 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $49.87, for a total transaction of $110,162.83. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.

About Corning

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.