Signaturefd LLC Purchases 449 Shares of Corning Incorporated (NYSE:GLW)

Signaturefd LLC increased its position in Corning Incorporated (NYSE:GLW) by 2.0% during the 4th quarter, Holdings Channel reports. The firm owned 23,200 shares of the electronics maker’s stock after acquiring an additional 449 shares during the quarter. Signaturefd LLC’s holdings in Corning were worth $1,102,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Parallel Advisors LLC increased its holdings in shares of Corning by 3.0% in the 4th quarter. Parallel Advisors LLC now owns 20,617 shares of the electronics maker’s stock valued at $980,000 after acquiring an additional 604 shares during the period. Cibc World Markets Corp increased its holdings in shares of Corning by 15.3% in the 4th quarter. Cibc World Markets Corp now owns 123,497 shares of the electronics maker’s stock valued at $5,869,000 after acquiring an additional 16,412 shares during the period. GLOBALT Investments LLC GA purchased a new position in shares of Corning in the 4th quarter valued at $4,470,000. GWN Securities Inc. purchased a new position in shares of Corning in the 4th quarter valued at $479,000. Finally, Envestnet Portfolio Solutions Inc. boosted its position in shares of Corning by 30.8% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 23,818 shares of the electronics maker’s stock worth $1,132,000 after purchasing an additional 5,608 shares in the last quarter. Institutional investors own 69.80% of the company’s stock.

Analysts Set New Price Targets

GLW has been the subject of a number of recent analyst reports. Morgan Stanley raised their price objective on Corning from $39.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. HSBC raised Corning from a “hold” rating to a “buy” rating and raised their price objective for the stock from $51.00 to $60.00 in a research report on Thursday, January 30th. StockNews.com cut Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Citigroup lifted their price target on Corning from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Finally, Hsbc Global Res raised Corning from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 30th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Corning has an average rating of “Moderate Buy” and an average price target of $53.00.

Insiders Place Their Bets

In other Corning news, SVP Michael Alan Bell sold 2,209 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $49.87, for a total transaction of $110,162.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Eric S. Musser sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $51.92, for a total value of $1,557,600.00. Following the transaction, the chief operating officer now owns 152,944 shares in the company, valued at approximately $7,940,852.48. This represents a 16.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.45% of the stock is owned by company insiders.

Corning Price Performance

Shares of Corning stock opened at $47.27 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.62 and a debt-to-equity ratio of 0.62. Corning Incorporated has a twelve month low of $30.72 and a twelve month high of $55.33. The business has a 50-day moving average price of $49.84 and a 200 day moving average price of $47.57. The firm has a market cap of $40.49 billion, a PE ratio of 81.49, a P/E/G ratio of 1.50 and a beta of 1.03.

Corning (NYSE:GLW) last announced its quarterly 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%. Sell-side analysts predict that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.12 annualized dividend and a dividend yield of 2.37%. Corning’s dividend payout ratio is presently 193.10%.

Corning 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.