According to the most recent Form 13F filing that Gallacher Capital Management LLC made with the Securities and Exchange Commission, the company made a new investment in Corning Incorporated (NYSE: GLW) during the fourth quarter.
The fund acquired 12,820 shares in the electronics firm for about $409,000.
GLW stock has been purchased and sold by several different institutional investors and hedge funds in the most recent period. Over the first three months of the year, Cibc Global Market INC boosted the percentage of Corning stock held by 22.1%. Following acquiring 11,884 shares during the quarter, Cibc World Market INC now owns 65,555 shares of the electronics manufacturer’s stock, with a market value of $2,420,000.
During the first quarter, Prudential PLC established a new investment in Corning worth 588 thousand dollars. Over the first three months of 2018, Sequoia Financial Advisors LLC added 15.5% more Corning shares to its portfolio.
After making an additional purchase of 1,062 shares during the preceding quarter, Sequoia Financial Advisors LLC now possesses 7,922 shares of the electronics manufacturer’s stock, valued at $293,000. Over the first three months of 2018, Vanguard Group INC grew its holdings of Corning by 0.7%.
As a result of the most recent quarter’s purchase of 671,480 shares, Vanguard Group INC now owns a total of 92,746,889 shares of the stock held by the electronics manufacturer.
The value of these shares is $3,423,287,000.
Lastly, over the first three months of the year, Baird Financial Group INC boosted the amount of Corning stock held by 24.4%.
After acquiring 140,098 shares during the most recent quarter, Baird Financial Group INC now holds 714,932 shares of the electronics manufacturer’s stock, valued at a total of $26,388,000.
Institutional investors own the company’s stock at 67.79%.
The NYSE: GLW stock began trading on Wednesday at $33.67.
During the past year, Corning Incorporated has seen its share price go as low as $28.98 and as high as $38.71.
The company has a price-to-earnings ratio of 21.86, a price-to-earnings-growth ratio of 2.26, and a beta value of 1.07.
The market capitalization of the company is $28.50 billion.
The ratio of debt to equity is 0.54 percent; the ratio of quick ratio to current ratio is 0.88 percent; and the ratio of current ratio to quick ratio is 1.44 percent.
The moving average for the company over the past fifty days is $35.02, and the moving average for the past 200 days is $33.34.
On Tuesday, January 31, Corning (NYSE: GLW) shared its most recent quarterly results report with the investing community.
The consumer electronics business announced a quarterly profit of $0.47 per share, which is $0.03 more than the consensus expectation of $0.44 developed by market experts. Corning achieved a return on equity of 14.82% and a net margin of 9.27% throughout the year.
The actual revenue for the quarter was $3.63 billion, which is higher than the forecasted figure of $3.54 billion by analysts.
The company made $0.54 in profit per share during the same period the previous year.
The decline in revenue for the company was 2.2% compared to the previous year.
According to projections made by equity research experts, Corning Incorporated will generate earnings of $1.96 per share in the current fiscal year.
In addition, the company has declared a quarterly dividend, which will be distributed on the 30th of this month.
Beginning on February 28, stockholders will receive a dividend payment of $0.28 per share.
This corresponds to a dividend of $1.12 each year and a yield of 3.33% if we look at it annually. Sh shareholders will not receive a dividend on Monday, February 27.
The quarterly dividend, which had been $0.27 in the past, was raised.
The payout ratio for Corning currently stands at 72.73%.
On Friday, February 3, the vice president of the firm, John Z. Zhang, sold 4,655 shares of the company’s stock.
At an average price of $36.00 per share, the stock brought in a total of $167,580.00 when sold.
Because of the transaction, the vice president now has direct ownership of 5,744 shares, now valued at around $206,784.
The transaction was made public via a filing submitted to the Securities and Exchange Commission (SEC), which may be on the SEC’s website.
According to another piece of news regarding the company, Corning insider Li Fang sold 19,909 shares of the firm’s stock on Tuesday, March 7.
At an average price of $35.17 per share, the shares could fetch a total of $700,199.53 when sold. You can learn more about the transaction by following the link in the previous sentence, which takes you to a document submitted to the Securities and Exchange Commission.
In addition, on February 3, the Vice President of the company, John Z. Zhang, sold 4,655 shares of the company’s stock.
At an average price of $36.00 per share, the stock brought in a total of $167,580.00 when sold.
As a direct consequence of the transaction, the Vice President now has 5,744 shares of the firm, now valued at $206,784.
The disclosure for this sale can be found at this location. Company insiders hold a total of 0.36% of the business’s shares.
Feedback has been provided to GLW by several different research firms.
Morgan Stanley lowered their price target on Corning shares from $36.00 to $35.00 and gave the stock an “equal weight” rating in a research report published on Tuesday, December 13. Corning received a “positive” rating and a rise in their price target from $39.00 to $40.00 from the research firm Susquehanna, published in a report distributed on Thursday, February 2. On Thursday, March 16, Corning was included in the coverage that StockNews.com provides.
They decided to maintain their “hold” rating for the company. UBS Group increased their price objective on Corning from $37.00 to $40.00 and gave the company a “buy” rating in a research report published on Wednesday, January 11.
Last but not least, in a research report published on Wednesday, February 1, Credit Suisse Group lowered their price objective on Corning from $41.00 to $40.00 while maintaining their “outperform” rating on the stock.
The stock currently has a rating of “Hold” from six different financial analysts, while the “buy” rating comes from five different analysts.
According to Bloomberg.com, the stock is now rated as having an average “Hold” recommendation, and the price target is $37.78.
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