Staley Capital Advisers Inc. boosted its position in shares of Corning Inc. (NYSE:GLW) by 2.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,493,312 shares of the electronics maker’s stock after buying an additional 36,571 shares during the period. Corning accounts for approximately 3.3% of Staley Capital Advisers Inc.’s portfolio, making the stock its 10th biggest holding. Staley Capital Advisers Inc. owned about 0.18% of Corning worth $41,634,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Silvant Capital Management LLC acquired a new position in Corning during the first quarter worth approximately $6,126,000. Cambridge Investment Research Advisors Inc. grew its stake in shares of Corning by 101.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 295,434 shares of the electronics maker’s stock valued at $8,237,000 after purchasing an additional 148,721 shares during the last quarter. CCM Investment Advisers LLC purchased a new position in shares of Corning in the 1st quarter valued at approximately $5,194,000. Alpine Woods Capital Investors LLC purchased a new position in shares of Corning in the 1st quarter valued at approximately $870,000. Finally, King Luther Capital Management Corp grew its stake in shares of Corning by 64.4% in the 1st quarter. King Luther Capital Management Corp now owns 16,766 shares of the electronics maker’s stock valued at $467,000 after purchasing an additional 6,570 shares during the last quarter. 73.16% of the stock is currently owned by institutional investors.
In other Corning news, VP Christine M. Pambianchi sold 1,000 shares of the business’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $29.90, for a total transaction of $29,900.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.46% of the stock is currently owned by insiders.
Corning opened at $27.83 on Friday, Marketbeat Ratings reports. The company has a current ratio of 2.56, a quick ratio of 1.95 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $23.35 billion, a P/E ratio of 16.18, a price-to-earnings-growth ratio of 4.09 and a beta of 1.35. Corning Inc. has a 1-year low of $27.73 and a 1-year high of $28.00.
Corning (NYSE:GLW) last posted its earnings results on Tuesday, April 24th. The electronics maker reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.01. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. Corning had a positive return on equity of 11.66% and a negative net margin of 11.44%. Corning’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.36 earnings per share. equities analysts anticipate that Corning Inc. will post 1.72 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Thursday, May 3rd will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, May 2nd. This represents a $0.72 dividend on an annualized basis and a yield of 2.59%. Corning’s payout ratio is 41.86%.
Corning Incorporated manufactures and sells specialty glasses, ceramics, and related materials in North America, the Asia Pacific, Europe, and internationally. The company operates through five segments: Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, and Life Sciences.
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