Nations Financial Group Inc. IA ADV Buys Shares of 4,291 Corning Incorporated (NYSE:GLW)

Nations Financial Group Inc. IA ADV purchased a new stake in shares of Corning Incorporated (NYSE:GLW) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 4,291 shares of the electronics maker’s stock, valued at approximately $204,000.

A number of other institutional investors and hedge funds have also made changes to their positions in GLW. Red Cedar Investment Management LLC acquired a new stake in Corning in the 4th quarter valued at approximately $1,710,000. Asset Planning Inc acquired a new stake in shares of Corning in the fourth quarter valued at $29,000. Figure 8 Investment Strategies LLC purchased a new stake in shares of Corning in the 4th quarter valued at $2,459,000. Bogart Wealth LLC lifted its stake in Corning by 18.3% during the 4th quarter. Bogart Wealth LLC now owns 1,419 shares of the electronics maker’s stock worth $67,000 after acquiring an additional 219 shares in the last quarter. Finally, SFE Investment Counsel boosted its holdings in Corning by 1.9% during the 4th quarter. SFE Investment Counsel now owns 24,826 shares of the electronics maker’s stock valued at $1,180,000 after acquiring an additional 470 shares during the period. 69.80% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Corning

In other Corning news, SVP John P. Bayne, Jr. sold 5,000 shares of Corning stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $48.39, for a total value of $241,950.00. Following the sale, the senior vice president now owns 6,700 shares of the company’s stock, valued at approximately $324,213. The trade was a 42.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $110,162.83. The disclosure for this sale can be found here. Insiders sold 46,085 shares of company stock worth $2,345,436 over the last 90 days. 0.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

GLW has been the topic of several research reports. Citigroup increased their price target on shares of Corning from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Oppenheimer reiterated an “outperform” rating and set a $58.00 target price (up from $51.00) on shares of Corning in a report on Wednesday, October 30th. HSBC upgraded shares of Corning from a “hold” rating to a “buy” rating and boosted their price target for the stock from $51.00 to $60.00 in a research note on Thursday, January 30th. Barclays reduced their price objective on Corning from $53.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Finally, Morgan Stanley boosted their target price on Corning from $39.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Corning presently has an average rating of “Moderate Buy” and a consensus target price of $53.00.

Corning Stock Up 0.5 %

Corning stock opened at $52.81 on Wednesday. The stock has a 50-day simple moving average of $49.60 and a 200-day simple moving average of $46.39. The company has a market capitalization of $45.22 billion, a P/E ratio of 91.06, a PEG ratio of 1.55 and a beta of 1.03. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.62. Corning Incorporated has a fifty-two week low of $30.72 and a fifty-two week high of $55.33.

Corning (NYSE:GLW) last announced its earnings results on Wednesday, January 29th. The electronics maker reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. Corning had a net margin of 3.86% and a return on equity of 15.10%. Equities research analysts expect that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Friday, February 28th. Corning’s payout ratio is currently 193.11%.

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.