Corning (NYSE:GLW) Shares Acquired Rep. Marjorie Taylor Greene

Representative Marjorie Taylor Greene (R-Georgia) recently bought shares of Corning Incorporated NYSE: GLW. In a filing disclosed on November 04th, the Representative disclosed that they had bought between $1,001 and $15,000 in Corning stock on November 1st.

Representative Marjorie Taylor Greene also recently made the following trade(s):

• Purchased $1,001 - $15,000 in shares of Berkshire Hathaway NYSE: BRK.B on 11/1/2024.
• Purchased $1,001 - $15,000 in shares of Digital Realty Trust NYSE: DLR on 11/1/2024.
• Purchased $1,001 - $15,000 in shares of Apple NASDAQ: AAPL on 11/1/2024.
• Purchased $1,001 - $15,000 in shares of Tesla NASDAQ: TSLA on 11/1/2024.
• Purchased $1,001 - $15,000 in shares of Hershey NYSE: HSY on 11/1/2024.
• Purchased $1,001 - $15,000 in shares of Duke Energy NYSE: DUK on 11/1/2024.
• Purchased $1,001 - $15,000 in shares of Advanced Micro Devices NASDAQ: AMD on 11/1/2024.
• Purchased $1,001 - $15,000 in shares of Intel NASDAQ: INTC on 11/1/2024.
• Purchased $1,001 - $15,000 in shares of Meta Platforms NASDAQ: META on 11/1/2024.
• Purchased $1,001 - $15,000 in shares of Caterpillar NYSE: CAT on 10/21/2024.

Corning Stock Performance

NYSE:GLW traded up $0.96 on Wednesday, reaching $48.24. 5,073,186 shares of the company's stock were exchanged, compared to its average volume of 5,736,017. The firm has a market cap of $41.30 billion, a price-to-earnings ratio of 278.06, a P/E/G ratio of 1.51 and a beta of 1.03. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.66 and a quick ratio of 1.05. The stock has a fifty day simple moving average of $44.71 and a 200-day simple moving average of $40.69. Corning Incorporated has a 52 week low of $26.94 and a 52 week high of $51.03.

Corning (NYSE:GLW - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The electronics maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.53 by $0.01. The company had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.72 billion. Corning had a net margin of 1.24% and a return on equity of 13.45%. Corning's revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the firm earned $0.45 EPS. As a group, sell-side analysts predict that Corning Incorporated will post 1.95 earnings per share for the current year.

Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend is Friday, November 15th. Corning's dividend payout ratio is currently 658.82%.

Analyst Upgrades and Downgrades

GLW has been the subject of a number of recent analyst reports. Barclays boosted their price target on shares of Corning from $40.00 to $53.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 29th. Hsbc Global Res raised Corning from a "moderate sell" rating to a "hold" rating in a report on Tuesday, July 9th. Argus boosted their price objective on Corning from $40.00 to $50.00 and gave the stock a "buy" rating in a report on Tuesday, July 9th. Bank of America upped their price objective on shares of Corning from $46.00 to $51.00 and gave the stock a "buy" rating in a research report on Friday, September 20th. Finally, HSBC raised shares of Corning from a "reduce" rating to a "hold" rating and set a $37.00 price target for the company in a research note on Tuesday, July 9th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $50.08.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GLW. Price T Rowe Associates Inc. MD increased its stake in shares of Corning by 35.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,200,828 shares of the electronics maker's stock worth $566,941,000 after buying an additional 4,464,893 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Corning by 4.3% in the second quarter. Dimensional Fund Advisors LP now owns 10,342,949 shares of the electronics maker's stock valued at $401,826,000 after acquiring an additional 426,864 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Corning by 0.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,936,928 shares of the electronics maker's stock valued at $87,452,000 after acquiring an additional 10,311 shares during the last quarter. Natixis boosted its holdings in shares of Corning by 2,405.2% during the first quarter. Natixis now owns 1,807,801 shares of the electronics maker's stock worth $59,585,000 after purchasing an additional 1,735,638 shares during the period. Finally, Los Angeles Capital Management LLC boosted its holdings in shares of Corning by 215.6% during the third quarter. Los Angeles Capital Management LLC now owns 1,677,513 shares of the electronics maker's stock worth $75,740,000 after purchasing an additional 1,145,955 shares during the period. 69.80% of the stock is owned by institutional investors.

About Representative Greene

Marjorie Taylor Greene (Republican Party) is a member of the U.S. House, representing Georgia's 14th Congressional District. She assumed office on January 3, 2021. Her current term ends on January 3, 2025. Greene (Republican Party) is running for re-election to the U.S. House to represent Georgia's 14th Congressional District. She declared candidacy for the 2024 election. Marjorie Taylor Greene earned a bachelor's degree in business administration from the University of Georgia. Greene's career experience includes co-owning construction company Taylor Commercial and founding and owning a CrossFit gym.

About Corning

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.