Traders sold shares of Corning Incorporated (NYSE:GLW) on strength during trading on Friday. $21.32 million flowed into the stock on the tick-up and $199.77 million flowed out of the stock on the tick-down, for a money net flow of $178.45 million out of the stock. Of all stocks tracked, Corning had the 0th highest net out-flow for the day. Corning traded up $0.24 for the day and closed at $32.05

Several analysts have recently weighed in on the stock. Guggenheim reiterated a “buy” rating and set a $35.00 target price on shares of Corning in a research report on Tuesday, December 12th. BidaskClub lowered shares of Corning from a “buy” rating to a “hold” rating in a research report on Saturday, August 19th. Jefferies Group reiterated a “hold” rating and set a $29.50 target price on shares of Corning in a research report on Friday, October 6th. Zacks Investment Research lowered shares of Corning from a “hold” rating to a “sell” rating in a research report on Friday, October 20th. Finally, Deutsche Bank lifted their target price on shares of Corning from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $29.28.

The company has a market capitalization of $27,853.28, a P/E ratio of 18.42, a price-to-earnings-growth ratio of 2.67 and a beta of 1.33. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.69 and a quick ratio of 2.14.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, October 24th. The electronics maker reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.02. The business had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.59 billion. Corning had a net margin of 24.98% and a return on equity of 11.53%. Corning’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 earnings per share. research analysts predict that Corning Incorporated will post 1.7 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Thursday, November 16th were issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date was Wednesday, November 15th. Corning’s dividend payout ratio is currently 26.38%.

In related news, CEO Wendell P. Weeks sold 248,857 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $31.37, for a total transaction of $7,806,644.09. Following the completion of the transaction, the chief executive officer now owns 65,333 shares in the company, valued at $2,049,496.21. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mark S. Rogus sold 9,242 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $32.12, for a total transaction of $296,853.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 294,561 shares of company stock valued at $9,254,498. Corporate insiders own 0.59% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of GLW. GLG Partners LP acquired a new position in Corning during the second quarter worth $102,000. Benjamin F. Edwards & Company Inc. boosted its holdings in Corning by 241.6% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 3,747 shares of the electronics maker’s stock worth $112,000 after purchasing an additional 2,650 shares during the last quarter. MPS Loria Financial Planners LLC acquired a new position in Corning during the second quarter worth $112,000. IHT Wealth Management LLC boosted its holdings in Corning by 13.4% during the second quarter. IHT Wealth Management LLC now owns 4,117 shares of the electronics maker’s stock worth $165,000 after purchasing an additional 485 shares during the last quarter. Finally, Harfst & Associates Inc. boosted its holdings in Corning by 44.7% during the second quarter. Harfst & Associates Inc. now owns 4,791 shares of the electronics maker’s stock worth $143,000 after purchasing an additional 1,481 shares during the last quarter. Hedge funds and other institutional investors own 72.43% of the company’s stock.

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About Corning

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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