Rep. Marjorie Taylor Greene Buys Corning Incorporated (NYSE:GLW) Stock

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

GLW opened at $48.24 on Thursday. The company has a 50 day simple moving average of $44.83 and a two-hundred day simple moving average of $40.75. Corning Incorporated has a 1-year low of $26.94 and a 1-year high of $51.03. The firm has a market cap of $41.30 billion, a P/E ratio of 283.76, a PEG 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.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, October 29th. The electronics maker reported $0.54 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter last year, the company earned $0.45 EPS. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. Equities analysts forecast that Corning Incorporated will post 1.95 earnings per share for the current fiscal year.

Corning Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on GLW shares. Barclays raised their price objective on Corning from $40.00 to $53.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. UBS Group lifted their price objective on Corning from $46.00 to $51.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. StockNews.com upgraded Corning from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Citigroup boosted their price target on shares of Corning from $45.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Finally, Oppenheimer reissued an “outperform” rating and issued a $58.00 price objective (up from $51.00) on shares of Corning in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.08.

Institutional Trading of Corning

Several institutional investors have recently added to or reduced their stakes in the company. Atlanta Consulting Group Advisors LLC purchased a new stake in shares of Corning in the third quarter worth approximately $213,000. Cassady Schiller Wealth Management LLC purchased a new stake in Corning in the third quarter worth $39,000. Schneider Downs Wealth Management Advisors LP bought a new stake in shares of Corning during the third quarter worth $232,000. Kinsale Capital Group Inc. boosted its stake in shares of Corning by 14.9% during the third quarter. Kinsale Capital Group Inc. now owns 135,968 shares of the electronics maker’s stock valued at $6,139,000 after purchasing an additional 17,621 shares during the period. Finally, River Street Advisors LLC grew its holdings in shares of Corning by 3.6% in the third quarter. River Street Advisors LLC now owns 18,140 shares of the electronics maker’s stock worth $819,000 after purchasing an additional 633 shares during the last quarter. Institutional investors own 69.80% of the company’s stock.

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.