Corning Incorporated (NYSE:GLW) Shares Acquired by Sanctuary Advisors LLC

Sanctuary Advisors LLC increased its holdings in Corning Incorporated (NYSE:GLW) by 1.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 126,602 shares of the electronics maker’s stock after acquiring an additional 2,038 shares during the quarter. Sanctuary Advisors LLC’s holdings in Corning were worth $6,329,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sound Income Strategies LLC increased its stake in Corning by 76.7% in the fourth quarter. Sound Income Strategies LLC now owns 523 shares of the electronics maker’s stock valued at $25,000 after purchasing an additional 227 shares during the period. Sierra Ocean LLC purchased a new position in shares of Corning during the fourth quarter worth about $25,000. Asset Planning Inc acquired a new position in Corning in the 4th quarter valued at about $29,000. Rosenberg Matthew Hamilton raised its stake in Corning by 202.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 747 shares of the electronics maker’s stock valued at $35,000 after acquiring an additional 500 shares during the last quarter. Finally, JFS Wealth Advisors LLC lifted its position in Corning by 171.8% during the 4th quarter. JFS Wealth Advisors LLC now owns 810 shares of the electronics maker’s stock worth $38,000 after acquiring an additional 512 shares during the period. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. UBS Group boosted their target price on Corning from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. StockNews.com upgraded shares of Corning from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. HSBC raised shares of Corning from a “hold” rating to a “buy” rating and lifted their target price for the company from $51.00 to $60.00 in a report on Thursday, January 30th. Hsbc Global Res raised shares of Corning from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 30th. Finally, Barclays lowered their price objective on Corning from $53.00 to $52.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.00.

Corning Price Performance

Shares of NYSE:GLW opened at $52.57 on Thursday. Corning Incorporated has a 12 month low of $30.72 and a 12 month high of $55.33. The firm has a market capitalization of $45.03 billion, a price-to-earnings ratio of 90.64, a price-to-earnings-growth ratio of 1.52 and a beta of 1.03. The business’s 50 day simple moving average is $49.69 and its 200-day simple moving average is $46.48. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.62 and a quick ratio of 1.07.

Corning (NYSE:GLW) last posted its earnings results on Wednesday, January 29th. The electronics maker reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.01. Corning had a return on equity of 15.10% and a net margin of 3.86%. As a group, equities analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Friday, February 28th. Corning’s payout ratio is currently 193.11%.

Insider Buying and Selling at Corning

In related news, COO Eric S. Musser sold 30,000 shares of Corning stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $51.92, for a total transaction of $1,557,600.00. Following the completion of the transaction, the chief operating officer now directly owns 152,944 shares in the company, valued at $7,940,852.48. The trade was a 16.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP John P. Bayne, Jr. sold 5,000 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $48.39, for a total value of $241,950.00. Following the sale, the senior vice president now owns 6,700 shares in the company, valued at approximately $324,213. This trade represents a 42.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,085 shares of company stock valued at $2,345,436 over the last quarter. Corporate insiders own 0.45% of the company’s stock.

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.