6,812 Shares in Corning Incorporated $GLW Acquired by First Nebraska Trust Co

First Nebraska Trust Co acquired a new stake in shares of Corning Incorporated (NYSE:GLW) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,812 shares of the electronics maker’s stock, valued at approximately $1,047,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Western Pacific Wealth Management LP purchased a new position in shares of Corning during the 3rd quarter valued at $25,000. Kings Path Partners LLC purchased a new stake in shares of Corning in the third quarter worth $25,000. Atwood & Palmer Inc. bought a new stake in Corning during the second quarter valued at $26,000. Rogco LP bought a new stake in Corning during the second quarter valued at $27,000. Finally, Toth Financial Advisory Corp boosted its stake in Corning by 130.7% during the third quarter. Toth Financial Advisory Corp now owns 173 shares of the electronics maker’s stock valued at $27,000 after buying an additional 98 shares during the period. Institutional investors own 69.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Weiss Ratings cut Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. Citigroup reaffirmed a “buy” rating on shares of Corning in a report on Tuesday, October 27th. Zacks Research upgraded Corning from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 28th. JPMorgan Chase & Co. cut their price objective on Corning from $170.00 to $165.00 and set a “neutral” rating for the company in a report on Wednesday, October 21st. Finally, Sanford C. Bernstein initiated coverage on shares of Corning in a research report on Wednesday, September 30th. They issued a “market perform” rating and a $140.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Corning has a consensus rating of “Moderate Buy” and an average price target of $175.81.

Corning Stock Up 2.3%

Shares of NYSE:GLW opened at $126.05 on Wednesday. Corning Incorporated has a 52-week low of $77.39 and a 52-week high of $271.78. The firm has a fifty day moving average of $146.97 and a 200 day moving average of $155.31. The firm has a market capitalization of $108.58 billion, a PE ratio of 51.03, a price-to-earnings-growth ratio of 1.52 and a beta of 1.23. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.17 and a current ratio of 1.72.

Corning (NYSE:GLW) last released its earnings results on Tuesday, October 27th. The electronics maker reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Corning had a return on equity of 20.83% and a net margin of 12.13%. The business had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $5.03 billion. During the same quarter in the prior year, the firm earned $0.67 earnings per share. The firm’s revenue was up 18.9% on a year-over-year basis. As a group, research analysts anticipate that Corning Incorporated will post 3.37 EPS for the current fiscal year.

Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 13th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, November 13th. Corning’s dividend payout ratio is presently 45.34%.

Insider Activity at Corning

In other news, EVP Lewis Steverson sold 13,100 shares of the stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $151.29, for a total transaction of $1,981,899.00. Following the transaction, the executive vice president directly owned 15,052 shares in the company, valued at approximately $2,277,217.08. This represents a 46.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.25% of the company’s stock.

Corning Profile

Corning Incorporated (NYSE: GLW) is a technology company that develops and manufactures specialty glass, ceramics and optical-fiber products. Its materials and engineering expertise support communications networks, consumer electronics, automotive systems, life sciences and other industrial applications.

The company’s products include optical fiber, cable and connectivity solutions used in telecommunications infrastructure; glass substrates for televisions, computer monitors and other displays; durable cover glass for mobile devices; emissions-control components for vehicles; laboratory glassware and consumables; and specialized glass and ceramic materials for scientific, industrial and semiconductor applications.

Founded in 1851 and headquartered in Corning, New York, the company serves customers through operations and facilities across North America, Europe, Asia and other international markets.