Executive Wealth Management LLC Has $56,000 Position in Corning Incorporated (NYSE:GLW)

Executive Wealth Management LLC boosted its position in shares of Corning Incorporated (NYSE:GLW) by 67.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,697 shares of the electronics maker’s stock after purchasing an additional 684 shares during the quarter. Executive Wealth Management LLC’s holdings in Corning were worth $56,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Nelson Roberts Investment Advisors LLC lifted its position in shares of Corning by 31.7% in the second quarter. Nelson Roberts Investment Advisors LLC now owns 1,303 shares of the electronics maker’s stock worth $43,000 after purchasing an additional 314 shares in the last quarter. We Are One Seven LLC lifted its position in shares of Corning by 1.0% in the second quarter. We Are One Seven LLC now owns 32,123 shares of the electronics maker’s stock worth $1,067,000 after purchasing an additional 322 shares in the last quarter. Flagship Harbor Advisors LLC lifted its position in shares of Corning by 3.9% in the second quarter. Flagship Harbor Advisors LLC now owns 8,582 shares of the electronics maker’s stock worth $285,000 after purchasing an additional 322 shares in the last quarter. Trust Co. of Vermont lifted its position in shares of Corning by 2.6% in the second quarter. Trust Co. of Vermont now owns 12,867 shares of the electronics maker’s stock worth $428,000 after purchasing an additional 324 shares in the last quarter. Finally, Greenleaf Trust lifted its position in shares of Corning by 2.9% in the second quarter. Greenleaf Trust now owns 12,307 shares of the electronics maker’s stock worth $409,000 after purchasing an additional 345 shares in the last quarter. Hedge funds and other institutional investors own 71.56% of the company’s stock.

In other Corning news, VP Christine M. Pambianchi sold 194,960 shares of the company’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $31.84, for a total value of $6,207,526.40. Following the transaction, the vice president now directly owns 66,369 shares in the company, valued at $2,113,188.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.46% of the company’s stock.

A number of brokerages have recently commented on GLW. Susquehanna Bancshares reissued a “neutral” rating and issued a $30.00 price objective (down previously from $40.00) on shares of Corning in a research report on Thursday, August 1st. S&P Equity Research lowered shares of Corning from a “positive” rating to a “neutral” rating and cut their price objective for the stock from $40.00 to $30.00 in a research report on Thursday, August 1st. They noted that the move was a valuation call. Bank of America raised shares of Corning from a “neutral” rating to a “buy” rating and set a $32.31 price objective on the stock in a research report on Wednesday, May 1st. Zacks Investment Research raised shares of Corning from a “sell” rating to a “hold” rating and set a $30.00 price target on the stock in a research report on Tuesday, August 6th. Finally, Deutsche Bank set a $36.00 price target on shares of Corning and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Corning has a consensus rating of “Buy” and an average target price of $34.73.

NYSE GLW opened at $27.13 on Friday. The company has a current ratio of 1.85, a quick ratio of 1.18 and a debt-to-equity ratio of 0.54. The firm’s fifty day moving average price is $31.80 and its two-hundred day moving average price is $32.60. Corning Incorporated has a 1 year low of $26.98 and a 1 year high of $36.56. The firm has a market capitalization of $22.04 billion, a P/E ratio of 14.47, a price-to-earnings-growth ratio of 1.42 and a beta of 1.16.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, July 30th. The electronics maker reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.01. Corning had a net margin of 12.78% and a return on equity of 15.60%. The firm had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same period in the prior year, the firm posted $0.38 earnings per share. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, research analysts anticipate that Corning Incorporated will post 1.89 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, August 30th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend is Thursday, August 29th. Corning’s dividend payout ratio (DPR) is currently 44.94%.

Corning Company Profile

Corning Incorporated engages in display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses worldwide. The company's Display Technologies segment manufactures glass substrates for organic light-emitting diodes and liquid crystal displays used in televisions, notebook computers, and flat panel desktop monitors.

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Institutional Ownership by Quarter for Corning (NYSE:GLW)

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