Parkside Financial Bank & Trust Acquires 830 Shares of Corning Incorporated (NYSE:GLW)

Parkside Financial Bank & Trust raised its position in shares of Corning Incorporated (NYSE:GLW) by 28.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,746 shares of the electronics maker’s stock after buying an additional 830 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Corning were worth $114,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GLW. CWM LLC grew its holdings in Corning by 3.5% during the 3rd quarter. CWM LLC now owns 22,906 shares of the electronics maker’s stock valued at $698,000 after buying an additional 778 shares in the last quarter. HB Wealth Management LLC grew its holdings in Corning by 13.6% during the 3rd quarter. HB Wealth Management LLC now owns 7,945 shares of the electronics maker’s stock valued at $242,000 after buying an additional 951 shares in the last quarter. SG Americas Securities LLC grew its holdings in Corning by 29.0% during the 3rd quarter. SG Americas Securities LLC now owns 67,794 shares of the electronics maker’s stock valued at $2,066,000 after buying an additional 15,229 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in Corning during the 3rd quarter valued at approximately $1,903,000. Finally, Koshinski Asset Management Inc. boosted its holdings in shares of Corning by 4.5% in the 3rd quarter. Koshinski Asset Management Inc. now owns 10,512 shares of the electronics maker’s stock worth $320,000 after purchasing an additional 451 shares during the period. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Corning Trading Down 0.0 %

GLW opened at $31.52 on Thursday. The firm has a market cap of $26.96 billion, a price-to-earnings ratio of 47.04, a PEG ratio of 1.75 and a beta of 1.08. The company has a current ratio of 1.67, a quick ratio of 1.05 and a debt-to-equity ratio of 0.61. Corning Incorporated has a 12 month low of $25.26 and a 12 month high of $36.01. The stock has a fifty day moving average price of $32.30 and a 200-day moving average price of $30.43.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, January 30th. The electronics maker reported $0.39 EPS for the quarter, hitting the consensus estimate of $0.39. The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $3.26 billion. Corning had a return on equity of 12.31% and a net margin of 4.62%. The business’s revenue for the quarter was down 12.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.47 EPS. As a group, equities research analysts anticipate that Corning Incorporated will post 1.87 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 29th were paid a dividend of $0.28 per share. The ex-dividend date was Wednesday, February 28th. This represents a $1.12 annualized dividend and a yield of 3.55%. Corning’s dividend payout ratio (DPR) is 167.16%.

Analyst Ratings Changes

GLW has been the subject of a number of recent research reports. Morgan Stanley reiterated an “overweight” rating and issued a $35.00 target price on shares of Corning in a report on Monday. Barclays lifted their target price on Corning from $28.00 to $35.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 31st. Susquehanna reiterated a “positive” rating and issued a $40.00 target price on shares of Corning in a report on Monday, April 1st. HSBC lowered Corning from a “hold” rating to a “reduce” rating and set a $29.00 price target for the company. in a research note on Thursday, February 1st. Finally, JPMorgan Chase & Co. raised their price target on Corning from $34.00 to $36.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Corning presently has a consensus rating of “Hold” and an average target price of $34.78.

Insider Buying and Selling

In related news, Vice Chairman Lawrence D. Mcrae sold 77,464 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $33.24, for a total transaction of $2,574,903.36. Following the transaction, the insider now directly owns 215,254 shares in the company, valued at approximately $7,155,042.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.40% of the stock is owned by company insiders.

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.