Corning Inc. (NYSE:GLW) insider Lisa Ferrero sold 42,306 shares of Corning stock in a transaction on Tuesday, November 29th. The stock was sold at an average price of $24.30, for a total value of $1,028,035.80. Following the sale, the insider now directly owns 25,145 shares of the company’s stock, valued at $611,023.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Corning Inc. (NYSE:GLW) traded down 0.58% during mid-day trading on Wednesday, reaching $24.03. The company had a trading volume of 7,854,198 shares. Corning Inc. has a one year low of $16.13 and a one year high of $24.46. The company has a market capitalization of $22.86 billion, a P/E ratio of 12.25 and a beta of 1.32. The stock has a 50 day moving average price of $23.40 and a 200 day moving average price of $22.14.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, October 25th. The company reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.04. Corning had a return on equity of 10.11% and a net margin of 25.66%. The firm earned $2.51 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same period last year, the company posted $0.34 EPS. The business’s quarterly revenue was up 4.0% on a year-over-year basis. On average, equities analysts expect that Corning Inc. will post $1.49 earnings per share for the current fiscal year.

Insider Buying and Selling by Quarter for Corning (NYSE:GLW)

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, November 17th will be given a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Tuesday, November 15th. Corning’s dividend payout ratio (DPR) is presently 27.84%.

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A number of equities research analysts recently commented on the company. Vetr raised Corning from a “sell” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Tuesday, November 15th. Zacks Investment Research cut Corning from a “buy” rating to a “hold” rating in a research note on Thursday, November 10th. Goldman Sachs Group Inc. reissued a “buy” rating and issued a $27.00 target price on shares of Corning in a research note on Wednesday, November 2nd. Drexel Hamilton reissued a “sell” rating and issued a $14.50 target price on shares of Corning in a research note on Tuesday, October 25th. Finally, Deutsche Bank AG reissued a “buy” rating on shares of Corning in a research note on Monday, October 3rd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $22.91.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mirador Capital Partners LP increased its stake in shares of Corning by 0.3% in the third quarter. Mirador Capital Partners LP now owns 11,231 shares of the company’s stock valued at $266,000 after buying an additional 31 shares in the last quarter. Chicago Partners Investment Group LLC increased its stake in shares of Corning by 0.6% in the second quarter. Chicago Partners Investment Group LLC now owns 10,581 shares of the company’s stock valued at $217,000 after buying an additional 68 shares in the last quarter. FTB Advisors Inc. increased its stake in shares of Corning by 0.6% in the third quarter. FTB Advisors Inc. now owns 12,040 shares of the company’s stock valued at $285,000 after buying an additional 72 shares in the last quarter. Geneva Advisors LLC increased its stake in shares of Corning by 0.9% in the third quarter. Geneva Advisors LLC now owns 11,742 shares of the company’s stock valued at $278,000 after buying an additional 100 shares in the last quarter. Finally, City Holding Co. increased its stake in shares of Corning by 1.2% in the third quarter. City Holding Co. now owns 9,448 shares of the company’s stock valued at $223,000 after buying an additional 110 shares in the last quarter. 75.83% of the stock is owned by hedge funds and other institutional investors.

About Corning

Corning Incorporated (Corning) is engaged in the manufacture of specialty glass and ceramics. The Company operates in five segments: Display Technologies, which manufactures glass substrates; Optical Communications, which is engaged in providing optical solutions; Environmental Technologies, which manufactures ceramic substrates and filter products; Specialty Materials, which manufactures products that provide over 150 material formulations for glass, glass ceramics and fluoride crystals, and Life Sciences segment, which is a developer, manufacturer and supplier of scientific laboratory products.

5 Day Chart for NYSE:GLW

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