Representative Thomas R. Suozzi (D-New York) recently sold shares of Corning Incorporated NYSE: GLW. In a filing disclosed on November 12th, the Representative disclosed that they had sold between $1,001 and $15,000 in Corning stock on October 24th. The trade occurred in the Representative's "MERRILL LYNCH- ADVISOR DISCRETION ACCOUNT- IRA" account.
Representative Thomas R. Suozzi also recently made the following trade(s):
- Sold $15,001 - $50,000 in shares of NVIDIA NASDAQ: NVDA on 10/24/2024.
- Purchased $15,001 - $50,000 in shares of NVIDIA NASDAQ: NVDA on 10/24/2024.
- Sold $1,001 - $15,000 in shares of Boeing NYSE: BA on 10/24/2024.
- Sold $1,001 - $15,000 in shares of CVS Health NYSE: CVS on 10/24/2024.
- Sold $15,001 - $50,000 in shares of Apple NASDAQ: AAPL on 10/7/2024.
- Sold $1,001 - $15,000 in shares of NVIDIA NASDAQ: NVDA on 10/2/2024.
Corning Price Performance
Shares of Corning stock traded down $0.56 on Friday, hitting $46.49. 3,629,583 shares of the company traded hands, compared to its average volume of 5,679,293. Corning Incorporated has a 12-month low of $27.57 and a 12-month high of $51.03. The firm's 50-day simple moving average is $45.63 and its 200 day simple moving average is $41.37. The company has a market cap of $39.81 billion, a P/E ratio of 274.71, a P/E/G ratio of 1.51 and a beta of 1.03. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.62.
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. Corning had a return on equity of 13.45% and a net margin of 1.24%. The firm had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the previous year, the business earned $0.45 earnings per share. The company's quarterly revenue was up 6.9% on a year-over-year basis. Analysts expect that Corning Incorporated will post 1.95 earnings per share for the current fiscal year.
Corning Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Friday, November 15th. Corning's payout ratio is 658.82%.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on GLW shares. Mizuho upgraded Corning from a "neutral" rating to an "outperform" rating and increased their price objective for the stock from $44.00 to $47.00 in a report on Wednesday, August 21st. JPMorgan Chase & Co. boosted their price target on Corning from $55.00 to $60.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. StockNews.com raised shares of Corning from a "hold" rating to a "buy" rating in a report on Thursday, October 31st. UBS Group increased their price objective on Corning from $46.00 to $51.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Finally, Bank of America boosted their target price on shares of Corning from $46.00 to $51.00 and gave the company a "buy" rating in a research note on Friday, September 20th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $50.08.
Check Out Our Latest Analysis on Corning
Hedge Funds Weigh In On Corning
A number of large investors have recently bought and sold shares of the business. City Holding Co. grew its stake in Corning by 545.5% during the 3rd quarter. City Holding Co. now owns 710 shares of the electronics maker's stock valued at $32,000 after purchasing an additional 600 shares during the last quarter. ESL Trust Services LLC purchased a new position in Corning in the first quarter valued at $33,000. Accordant Advisory Group Inc acquired a new position in Corning in the 2nd quarter worth about $39,000. Cassady Schiller Wealth Management LLC purchased a new position in shares of Corning during the 3rd quarter valued at approximately $39,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in Corning during the third quarter valued at $40,000. Institutional investors own 69.80% of the company's stock.
About Representative Suozzi
Thomas Richard Suozzi (born August 31, 1962) is an American politician, attorney, and accountant serving as the U.S. representative for New York's 3rd congressional district since 2024 and previously from 2017 to 2023. A member of the Democratic Party, he was the county executive of Nassau County on Long Island from 2002 to 2009, when he was unseated by Republican Ed Mangano. Before that, Suozzi served eight years as the mayor of Glen Cove in Nassau County.
In 2006, he ran unsuccessfully against Eliot Spitzer for the Democratic nomination for governor of New York. Suozzi was elected to the U.S. House of Representatives in 2016 and reelected in 2018 and 2020. He retired from Congress to run again for the Democratic gubernatorial nomination in 2022, losing to incumbent governor Kathy Hochul.
In October 2023, Suozzi announced that he would run for his old congressional seat in 2024.After Congress expelled George Santos that December, a special election to fill the remainder of the term was scheduled for February 13, 2024. Suozzi was selected as the Democratic nominee, and then won the special election, reclaiming the seat for Democrats.
About Corning
(
Get Free Report)
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.
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