Caxton Associates LP Has $613,000 Position in Corning Incorporated (GLW)

Caxton Associates LP lifted its position in Corning Incorporated (NYSE:GLW) by 23.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,400 shares of the electronics maker’s stock after purchasing an additional 3,900 shares during the period. Caxton Associates LP’s holdings in Corning were worth $613,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of GLW. GLG Partners LP acquired a new position in shares of Corning in the 2nd quarter valued at $102,000. Jacobus Wealth Management Inc. acquired a new position in shares of Corning in the 1st quarter valued at $108,000. Central Bank & Trust Co. lifted its stake in shares of Corning by 8.8% in the 2nd quarter. Central Bank & Trust Co. now owns 4,264 shares of the electronics maker’s stock valued at $128,000 after purchasing an additional 345 shares during the period. Harfst & Associates Inc. lifted its stake in shares of Corning by 44.7% in the 2nd quarter. Harfst & Associates Inc. now owns 4,791 shares of the electronics maker’s stock valued at $143,000 after purchasing an additional 1,481 shares during the period. Finally, Grove Bank & Trust lifted its stake in shares of Corning by 31.7% in the 2nd quarter. Grove Bank & Trust now owns 5,255 shares of the electronics maker’s stock valued at $158,000 after purchasing an additional 1,265 shares during the period. Hedge funds and other institutional investors own 71.30% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This story was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this story on another site, it was stolen and republished in violation of U.S. & international copyright legislation. The legal version of this story can be read at https://ledgergazette.com/2017/10/10/caxton-associates-lp-has-613000-position-in-corning-incorporated-glw.html.

In other news, Vice Chairman Lawrence D. Mcrae sold 48,125 shares of Corning stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $28.61, for a total transaction of $1,376,856.25. Following the completion of the transaction, the insider now owns 136,079 shares of the company’s stock, valued at approximately $3,893,220.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Christine M. Pambianchi sold 33,000 shares of Corning stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $28.56, for a total value of $942,480.00. Following the transaction, the vice president now directly owns 73,145 shares of the company’s stock, valued at approximately $2,089,021.20. The disclosure for this sale can be found here. Insiders have sold a total of 127,888 shares of company stock valued at $3,653,485 in the last ninety days. Corporate insiders own 0.59% of the company’s stock.

Several research firms recently issued reports on GLW. Drexel Hamilton reiterated a “sell” rating and issued a $17.50 target price on shares of Corning in a research note on Wednesday, July 26th. Jefferies Group LLC reiterated a “hold” rating and issued a $27.50 target price on shares of Corning in a research note on Friday, July 14th. Susquehanna Bancshares Inc reiterated a “positive” rating on shares of Corning in a research note on Thursday, July 13th. Vetr upgraded shares of Corning from a “sell” rating to a “buy” rating and set a $33.69 target price for the company in a research note on Wednesday, June 28th. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Corning in a research note on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Corning currently has a consensus rating of “Hold” and a consensus target price of $28.90.

Corning Incorporated (NYSE:GLW) traded down 1.378% during midday trading on Tuesday, hitting $29.705. 963,727 shares of the stock were exchanged. The firm has a 50-day moving average price of $29.35 and a 200-day moving average price of $29.14. The stock has a market cap of $26.83 billion, a P/E ratio of 13.267 and a beta of 1.38. Corning Incorporated has a one year low of $22.23 and a one year high of $32.17.

Corning (NYSE:GLW) last released its quarterly earnings results on Wednesday, July 26th. The electronics maker reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.02. The business had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.54 billion. Corning had a return on equity of 11.67% and a net margin of 24.16%. The business’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.37 EPS. On average, equities research analysts anticipate that Corning Incorporated will post $1.69 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be p

Several other institutional investors and hedge funds have also recently bought and sold shares of GLW. GLG Partners LP acquired a new position in shares of Corning in the 2nd quarter valued at $102,000. Jacobus Wealth Management Inc. acquired a new position in shares of Corning in the 1st quarter valued at $108,000. Central Bank & Trust Co. lifted its stake in shares of Corning by 8.8% in the 2nd quarter. Central Bank & Trust Co. now owns 4,264 shares of the electronics maker’s stock valued at $128,000 after purchasing an additional 345 shares during the period. Harfst & Associates Inc. lifted its stake in shares of Corning by 44.7% in the 2nd quarter. Harfst & Associates Inc. now owns 4,791 shares of the electronics maker’s stock valued at $143,000 after purchasing an additional 1,481 shares during the period. Finally, Grove Bank & Trust lifted its stake in shares of Corning by 31.7% in the 2nd quarter. Grove Bank & Trust now owns 5,255 shares of the electronics maker’s stock valued at $158,000 after purchasing an additional 1,265 shares during the period. Hedge funds and other institutional investors own 71.30% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This story was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this story on another site, it was stolen and republished in violation of U.S. & international copyright legislation. The legal version of this story can be read at https://ledgergazette.com/2017/10/10/caxton-associates-lp-has-613000-position-in-corning-incorporated-glw.html.

In other news, Vice Chairman Lawrence D. Mcrae sold 48,125 shares of Corning stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $28.61, for a total transaction of $1,376,856.25. Following the completion of the transaction, the insider now owns 136,079 shares of the company’s stock, valued at approximately $3,893,220.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Christine M. Pambianchi sold 33,000 shares of Corning stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $28.56, for a total value of $942,480.00. Following the transaction, the vice president now directly owns 73,145 shares of the company’s stock, valued at approximately $2,089,021.20. The disclosure for this sale can be found here. Insiders have sold a total of 127,888 shares of company stock valued at $3,653,485 in the last ninety days. Corporate insiders own 0.59% of the company’s stock.

Several research firms recently issued reports on GLW. Drexel Hamilton reiterated a “sell” rating and issued a $17.50 target price on shares of Corning in a research note on Wednesday, July 26th. Jefferies Group LLC reiterated a “hold” rating and issued a $27.50 target price on shares of Corning in a research note on Friday, July 14th. Susquehanna Bancshares Inc reiterated a “positive” rating on shares of Corning in a research note on Thursday, July 13th. Vetr upgraded shares of Corning from a “sell” rating to a “buy” rating and set a $33.69 target price for the company in a research note on Wednesday, June 28th. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Corning in a research note on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Corning currently has a consensus rating of “Hold” and a consensus target price of $28.90.

Corning Incorporated (NYSE:GLW) traded down 1.378% during midday trading on Tuesday, hitting $29.705. 963,727 shares of the stock were exchanged. The firm has a 50-day moving average price of $29.35 and a 200-day moving average price of $29.14. The stock has a market cap of $26.83 billion, a P/E ratio of 13.267 and a beta of 1.38. Corning Incorporated has a one year low of $22.23 and a one year high of $32.17.

Corning (NYSE:GLW) last released its quarterly earnings results on Wednesday, July 26th. The electronics maker reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.02. The business had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.54 billion. Corning had a return on equity of 11.67% and a net margin of 24.16%. The business’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.37 EPS. On average, equities research analysts anticipate that Corning Incorporated will post $1.69 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 16th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Wednesday, November 15th. Corning’s dividend payout ratio (DPR) is presently 27.93%.

Corning Profile

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).

Institutional Ownership by Quarter for Corning (NYSE:GLW)

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