BKD Wealth Advisors LLC Has $557,000 Holdings in Corning Incorporated (GLW)
BKD Wealth Advisors LLC raised its position in shares of Corning Incorporated (NYSE:GLW) by 9.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,415 shares of the electronics maker’s stock after purchasing an additional 1,464 shares during the period. BKD Wealth Advisors LLC’s holdings in Corning were worth $557,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Caxton Associates LP boosted its stake in Corning by 23.6% during the 2nd quarter. Caxton Associates LP now owns 20,400 shares of the electronics maker’s stock valued at $613,000 after purchasing an additional 3,900 shares during the period. Wealthsource Partners LLC acquired a new stake in shares of Corning in the 3rd quarter worth approximately $281,000. Princeton Capital Management Inc. lifted its stake in shares of Corning by 20.0% in the 3rd quarter. Princeton Capital Management Inc. now owns 214,019 shares of the electronics maker’s stock worth $6,403,000 after acquiring an additional 35,634 shares during the period. Sei Investments Co. lifted its stake in shares of Corning by 22.2% in the 3rd quarter. Sei Investments Co. now owns 546,661 shares of the electronics maker’s stock worth $16,356,000 after acquiring an additional 99,318 shares during the period. Finally, AJO LP lifted its stake in shares of Corning by 233.1% in the 2nd quarter. AJO LP now owns 1,462,104 shares of the electronics maker’s stock worth $43,936,000 after acquiring an additional 1,023,184 shares during the period. 72.12% of the stock is owned by hedge funds and other institutional investors.
In other news, Vice Chairman Lawrence D. Mcrae sold 51,676 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $32.42, for a total transaction of $1,675,335.92. Following the sale, the insider now owns 136,032 shares in the company, valued at $4,410,157.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Deborah Rieman sold 2,083 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $32.16, for a total transaction of $66,989.28. Following the sale, the director now owns 102,896 shares in the company, valued at approximately $3,309,135.36. The disclosure for this sale can be found here. Insiders sold a total of 348,320 shares of company stock worth $10,996,824 over the last quarter. Insiders own 0.59% of the company’s stock.
Shares of Corning Incorporated (NYSE:GLW) opened at $34.85 on Friday. The company has a quick ratio of 2.14, a current ratio of 2.69 and a debt-to-equity ratio of 0.26. Corning Incorporated has a fifty-two week low of $24.36 and a fifty-two week high of $35.07. The company has a market cap of $30,290.00, a P/E ratio of 14.83, a P/E/G ratio of 2.81 and a beta of 1.33.
Corning (NYSE:GLW) last released its earnings results on Tuesday, October 24th. The electronics maker reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. Corning had a net margin of 24.98% and a return on equity of 11.53%. The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.59 billion. During the same period in the previous year, the firm earned $0.42 EPS. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. analysts predict that Corning Incorporated will post 1.7 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on the stock. Guggenheim reaffirmed a “buy” rating and issued a $35.00 price target on shares of Corning in a research note on Tuesday, December 12th. Barclays set a $38.00 price target on shares of Corning and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Jefferies Group reaffirmed a “hold” rating and issued a $29.50 price target on shares of Corning in a research note on Friday, October 6th. Zacks Investment Research lowered shares of Corning from a “hold” rating to a “sell” rating in a research note on Friday, October 20th. Finally, Deutsche Bank upped their price target on shares of Corning from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $30.48.
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Corning Incorporated is engaged in manufacturing specialty glass and ceramics. Its segments include Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, Life Sciences and All Other. The Display Technologies segment manufactures glass substrates for flat panel liquid crystal displays (LCDs).
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