RFG Advisory Group LLC Takes $244,000 Position in Corning Incorporated (GLW)

RFG Advisory Group LLC acquired a new position in Corning Incorporated (NYSE:GLW) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,124 shares of the electronics maker’s stock, valued at approximately $244,000.

Other institutional investors have also bought and sold shares of the company. Central Bank & Trust Co. boosted its stake in Corning by 515.2% in the first quarter. Central Bank & Trust Co. now owns 3,919 shares of the electronics maker’s stock worth $106,000 after purchasing an additional 3,282 shares in the last quarter. Coconut Grove Bank boosted its stake in Corning by 92.8% in the first quarter. Coconut Grove Bank now owns 3,990 shares of the electronics maker’s stock worth $108,000 after purchasing an additional 1,920 shares in the last quarter. Jacobus Wealth Management Inc. acquired a new position in Corning in the first quarter worth $108,000. Clean Yield Group acquired a new position in Corning in the first quarter worth $122,000. Finally, Grove Bank & Trust boosted its stake in Corning by 31.7% in the second quarter. Grove Bank & Trust now owns 5,255 shares of the electronics maker’s stock worth $158,000 after purchasing an additional 1,265 shares in the last quarter. 71.35% of the stock is currently owned by institutional investors.

GLW has been the subject of a number of recent research reports. ValuEngine upgraded Corning from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Drexel Hamilton restated a “sell” rating on shares of Corning in a research report on Monday, June 19th. Morgan Stanley restated an “equal weight” rating and set a $29.00 target price (up previously from $26.00) on shares of Corning in a research report on Monday, June 19th. Vetr upgraded Corning from a “sell” rating to a “buy” rating and set a $33.69 target price for the company in a research report on Wednesday, June 28th. Finally, Susquehanna Bancshares Inc reiterated a “positive” rating on shares of Corning in a report on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Corning currently has a consensus rating of “Hold” and an average target price of $28.21.

In related news, Vice Chairman Lawrence D. Mcrae sold 48,125 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $28.61, for a total value of $1,376,856.25. Following the transaction, the insider now owns 136,079 shares in the company, valued at $3,893,220.19. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Clark S. Kinlin sold 46,763 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $28.53, for a total value of $1,334,148.39. Following the completion of the transaction, the insider now owns 72,039 shares in the company, valued at approximately $2,055,272.67. The disclosure for this sale can be found here. Insiders sold a total of 127,888 shares of company stock worth $3,653,485 in the last 90 days. Company insiders own 0.59% of the company’s stock.

Shares of Corning Incorporated (NYSE:GLW) traded up 0.0462% on Friday, reaching $29.2635. The company had a trading volume of 1,189,325 shares. The stock has a market cap of $26.43 billion, a PE ratio of 13.0699 and a beta of 1.40. Corning Incorporated has a 12 month low of $22.23 and a 12 month high of $32.17. The stock has a 50-day moving average price of $28.86 and a 200-day moving average price of $28.82.

Corning (NYSE:GLW) last released its quarterly earnings results on Wednesday, July 26th. The electronics maker reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. Corning had a return on equity of 11.67% and a net margin of 24.16%. The business had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the previous year, the business earned $0.37 EPS. The company’s quarterly revenue was up 6.1% on a year-over-year basis. Analysts predict that Corning Incorporated will post $1.70 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, August 31st will be paid a $0.155 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 2.12%. Corning’s payout ratio is presently 27.93%.

COPYRIGHT VIOLATION NOTICE: “RFG Advisory Group LLC Takes $244,000 Position in Corning Incorporated (GLW)” was first posted by BBNS and is owned by of BBNS. If you are viewing this article on another website, it was copied illegally and reposted in violation of United States and international copyright laws. The correct version of this article can be accessed at https://baseballnewssource.com/markets/8124-shares-in-corning-incorporated-glw-purchased-by-rfg-advisory-group-llc/1601614.html.

About Corning

Corning Incorporated is engaged in manufacturing specialty glass and ceramics. Its segments include Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, Life Sciences and All Other. The Display Technologies segment manufactures glass substrates for flat panel liquid crystal displays (LCDs).

Institutional Ownership by Quarter for Corning (NYSE:GLW)

Receive News & Ratings for Corning Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corning Incorporated and related companies with our FREE daily email newsletter.

 


Latest News

Will 2017 MLB Season End with No 20-Game Winner?
Will 2017 MLB Season End with No 20-Game Winner?
Cleveland Indians Winning Streak Snapped at 22
Cleveland Indians Winning Streak Snapped at 22
Tigers Player Might Play All Nine Positions During Same Game
Tigers Player Might Play All Nine Positions During Same Game
Fans Kicked Out of Fenway Park After Racist Banner Hung on Green Monster
Fans Kicked Out of Fenway Park After Racist Banner Hung on Green Monster
Dodgers End Losing Streak at 11 Behind Ace Clayton Kershaw
Dodgers End Losing Streak at 11 Behind Ace Clayton Kershaw
Cleveland Indians Winning Streak Reaches 18
Cleveland Indians Winning Streak Reaches 18


Leave a Reply

 
© 2006-2017 BBNS.