Christine M. Pambianchi Sells 1,000 Shares of Corning Inc. (NYSE:GLW) Stock

Corning Inc. (NYSE:GLW) VP Christine M. Pambianchi sold 1,000 shares of the business’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $29.90, for a total transaction of $29,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of GLW stock traded down $0.91 on Friday, reaching $26.55. The stock had a trading volume of 10,279,320 shares, compared to its average volume of 6,209,616. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.22 and a current ratio of 2.75. The stock has a market cap of $22,765.38, a price-to-earnings ratio of 15.44, a PEG ratio of 3.99 and a beta of 1.36. Corning Inc. has a 12 month low of $26.30 and a 12 month high of $35.10.

How to Become a New Pot Stock Millionaire

Corning (NYSE:GLW) last issued its earnings results on Tuesday, January 30th. The electronics maker reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.02. The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.65 billion. Corning had a negative net margin of 4.91% and a positive return on equity of 11.63%. Corning’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.50 EPS. sell-side analysts predict that Corning Inc. will post 1.66 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Wednesday, February 28th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.71%. This is a boost from Corning’s previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, February 27th. Corning’s dividend payout ratio is presently 41.86%.

Several hedge funds have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. grew its stake in Corning by 6.9% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 183,622 shares of the electronics maker’s stock valued at $5,494,000 after buying an additional 11,848 shares during the last quarter. Victory Capital Management Inc. grew its stake in Corning by 398.5% in the 3rd quarter. Victory Capital Management Inc. now owns 79,072 shares of the electronics maker’s stock valued at $2,366,000 after buying an additional 63,211 shares during the last quarter. Sei Investments Co. grew its stake in Corning by 22.2% in the 3rd quarter. Sei Investments Co. now owns 546,661 shares of the electronics maker’s stock valued at $16,356,000 after buying an additional 99,318 shares during the last quarter. New York State Common Retirement Fund grew its stake in Corning by 4.3% in the 3rd quarter. New York State Common Retirement Fund now owns 2,517,525 shares of the electronics maker’s stock valued at $75,324,000 after buying an additional 102,925 shares during the last quarter. Finally, Toronto Dominion Bank grew its stake in Corning by 9.9% in the 3rd quarter. Toronto Dominion Bank now owns 347,319 shares of the electronics maker’s stock valued at $10,392,000 after buying an additional 31,314 shares during the last quarter. 72.86% of the stock is currently owned by institutional investors.

GLW has been the topic of several analyst reports. Guggenheim reissued a “buy” rating on shares of Corning in a research report on Tuesday, January 30th. ValuEngine raised shares of Corning from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research raised shares of Corning from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research report on Tuesday, December 19th. Barclays set a $38.00 price target on shares of Corning and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Finally, TheStreet cut shares of Corning from a “b-” rating to a “c+” rating in a research report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Corning currently has an average rating of “Hold” and an average target price of $31.22.

COPYRIGHT VIOLATION WARNING: This news story was first published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this news story on another website, it was illegally copied and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this news story can be accessed at https://www.dispatchtribunal.com/2018/04/09/corning-incorporated-glw-vp-sells-29900-00-in-stock.html.

About Corning

Corning Incorporated manufactures and sells specialty glasses, ceramics, and related materials in North America, the Asia Pacific, Europe, and internationally. The company operates through five segments: Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, and Life Sciences.

Insider Buying and Selling by Quarter for Corning (NYSE:GLW)

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

Leave a Reply