The Corning Incorporated (GLW) Stake Maintained by Private Trust Co. NA

Paterniano Del Favero
Agosto 15, 2017

St Johns Inv Ltd Llc owns 0.47% invested in Corning Incorporated (NYSE:GLW) for 23,532 shares. The institutional investor owned 24,087 shares of the electronics maker's stock after buying an additional 889 shares during the period. Corning makes up about 1.5% of Moloney Securities Asset Management LLC's portfolio, making the stock its 9th largest position.

Corning Incorporated (GLW) stock exposed a turn of 0.58% in most recent week and accomplished -5.34% performance over the last one month.

Several other hedge funds have also recently added to or reduced their stakes in the company. AXA raised its stake in shares of Corning by 7.1% in the first quarter. Gateway Investment Advisers LLC now owns 910,066 shares of the electronics maker's stock worth $24,572,000 after buying an additional 38,819 shares during the last quarter. Finally, Gotham Asset Management LLC boosted its stake in Corning by 17,844.0% in the first quarter. DnB Asset Management AS now owns 110,995 shares of the electronics maker's stock valued at $2,997,000 after buying an additional 10,600 shares during the period. DnB Asset Management AS increased its stake in Corning by 10.6% in the first quarter. Clark Capital Management Group Inc. purchased a new position in shares of Corning during the first quarter valued at approximately $14,879,000. Morgan Stanley raised its stake in Corning by 20.0% in the first quarter. The fund owned 1,717,781 shares of the electronics maker's stock after buying an additional 1,708,208 shares during the period. AXA has an ownership of 261,015 stocks of the electronics maker's shares valued at $7,047,000 after scooping up an extra 17,315 shares through out the quarter. Institutional investors and hedge funds own 73.87% of the company's stock. Moreover, West Oak Limited Liability Corp has 0% invested in Corning Incorporated (NYSE:GLW) for 35,080 shares. The firm has a 50-day moving average price of $30.26 and a 200 day moving average price of $28.53. The stock of Corning Incorporated (NYSE:GLW) earned "Buy" rating by Goldman Sachs on Tuesday, April 12. The stock has a market cap of $26.56 billion, a price-to-earnings ratio of 13.14 and a beta of 1.40.

Corning (NYSE:GLW) last released its quarterly earnings data on Wednesday, July 26th. The electronics maker reported $0.42 EPS for the quarter, topping the Zacks' consensus estimate of $0.40 by $0.02. The firm had revenue of $2.59 billion during the quarter, compared to analysts' expectations of $2.54 billion.

While looking at the Stock's Performance, Corning Inc. now shows a Weekly Performance of -0.92%, where Monthly Performance is -5.97%, Quarterly performance is -0.28%, 6 Months performance is 8.54% and yearly performance percentage is 26.44%. During the same quarter in the previous year, the company posted $0.37 EPS. On average, equities research analysts forecast that Corning Incorporated will post $1.71 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, August 31st will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Tuesday, August 29th. Corning's dividend payout ratio is now 27.93%.

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GLW has been the subject of a number of research reports. Guggenheim initiated the shares of GLW in report on Wednesday, January 4 with "Buy" rating. Stifel Nicolaus reissued a "hold" recommendation and given a $28.00 target price on stock of Corning in a study report on early Wed, Apr 19th. Goldman Sachs upgraded Colgate-Palmolive Company (NYSE:CL) on Monday, May 2 to "Neutral" rating. Drexel Hamilton maintained the stock with "Buy" rating in Wednesday, October 26 report. Finally, Susquehanna Bancshares Inc reaffirmed a "positive" rating and set a $33.00 price target (up from $32.00) on shares of Corning in a research report on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. The company has an average rating of "Hold" and a consensus target price of $27.81. The shares were sold at an average price of $29.00, for a total value of $870,000.00. 2,007,244 shares of the company's stock traded hands. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also Executive James P. Clappin unloaded 106,983 stocks of Corning shares in a trade that took place on Wed, Jun 14th. After this sale, 52,068 common shares of GLW are directly owned by the insider, with total stake valued at $1,531,320. The disclosure for this sale can be found here. The company's stock had a trading volume of 1,309,913 shares. Investors of this company earned a return of 8.10% on the assets it owns (ROA) in past twelve month.

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