Rep. Marjorie Taylor Greene Buys Corning Incorporated (NYSE:GLW) Stock

Representative Marjorie Taylor Greene (R-Georgia) recently bought shares of Corning Incorporated (NYSE:GLW). In a filing disclosed on November 04th, the Representative disclosed that they had bought between $1,001 and $15,000 in Corning stock on November 1st.

Representative Marjorie Taylor Greene also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Berkshire Hathaway (NYSE:BRK.B) on 11/1/2024.
• Purchased $1,001 – $15,000 in shares of Digital Realty Trust (NYSE:DLR) on 11/1/2024.
• Purchased $1,001 – $15,000 in shares of Apple (NASDAQ:AAPL) on 11/1/2024.
• Purchased $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 11/1/2024.
• Purchased $1,001 – $15,000 in shares of Hershey (NYSE:HSY) on 11/1/2024.
• Purchased $1,001 – $15,000 in shares of Duke Energy (NYSE:DUK) on 11/1/2024.
• Purchased $1,001 – $15,000 in shares of Advanced Micro Devices (NASDAQ:AMD) on 11/1/2024.
• Purchased $1,001 – $15,000 in shares of Intel (NASDAQ:INTC) on 11/1/2024.
• Purchased $1,001 – $15,000 in shares of Meta Platforms (NASDAQ:META) on 11/1/2024.
• Purchased $1,001 – $15,000 in shares of Caterpillar (NYSE:CAT) on 10/21/2024.

Corning Stock Up 0.5 %

GLW stock opened at $47.27 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.66 and a quick ratio of 1.05. The firm has a market capitalization of $40.47 billion, a P/E ratio of 278.06, a P/E/G ratio of 1.51 and a beta of 1.03. Corning Incorporated has a 52-week low of $26.94 and a 52-week high of $51.03. The company’s 50 day simple moving average is $44.71 and its 200-day simple moving average is $40.69.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, October 29th. The electronics maker reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.01. The company had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.72 billion. Corning had a net margin of 1.24% and a return on equity of 13.45%. The company’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.45 EPS. As a group, equities research analysts anticipate that Corning Incorporated will post 1.95 EPS for the current year.

Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Friday, November 15th. Corning’s payout ratio is 658.82%.

Hedge Funds Weigh In On Corning

Several institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its holdings in Corning by 35.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,200,828 shares of the electronics maker’s stock valued at $566,941,000 after buying an additional 4,464,893 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Corning by 4.3% in the second quarter. Dimensional Fund Advisors LP now owns 10,342,949 shares of the electronics maker’s stock worth $401,826,000 after purchasing an additional 426,864 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Corning by 0.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,936,928 shares of the electronics maker’s stock worth $87,452,000 after purchasing an additional 10,311 shares during the period. Natixis increased its stake in shares of Corning by 2,405.2% in the first quarter. Natixis now owns 1,807,801 shares of the electronics maker’s stock worth $59,585,000 after purchasing an additional 1,735,638 shares during the period. Finally, Los Angeles Capital Management LLC grew its position in Corning by 215.6% during the third quarter. Los Angeles Capital Management LLC now owns 1,677,513 shares of the electronics maker’s stock worth $75,740,000 after buying an additional 1,145,955 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. StockNews.com raised Corning from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. raised their target price on Corning from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Hsbc Global Res raised Corning from a “moderate sell” rating to a “hold” rating in a research report on Tuesday, July 9th. Citigroup lifted their price objective on Corning from $45.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Finally, Oppenheimer reissued an “outperform” rating and set a $58.00 price objective (up previously from $51.00) on shares of Corning in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $50.08.

About Representative Greene

Marjorie Taylor Greene (Republican Party) is a member of the U.S. House, representing Georgia’s 14th Congressional District. She assumed office on January 3, 2021. Her current term ends on January 3, 2025. Greene (Republican Party) is running for re-election to the U.S. House to represent Georgia’s 14th Congressional District. She declared candidacy for the 2024 election. Marjorie Taylor Greene earned a bachelor’s degree in business administration from the University of Georgia. Greene’s career experience includes co-owning construction company Taylor Commercial and founding and owning a CrossFit gym.

Corning Company Profile

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.