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Tag: Corning

  • Natixis Advisors L.P. Raises Position in Corning Incorporated (NYSE:GLW)

    Natixis Advisors L.P. Raises Position in Corning Incorporated (NYSE:GLW)

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    Natixis Advisors L.P. raised its holdings in Corning Incorporated (NYSE:GLW – Free Report) by 5.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 101,322 shares of the electronics maker’s stock after buying an additional 5,616 shares during the period. Natixis Advisors L.P.’s holdings in Corning were worth $3,087,000 as of its most recent SEC filing.

    Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its position in Corning by 6.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 7,883,126 shares of the electronics maker’s stock valued at $240,199,000 after buying an additional 490,638 shares during the period. California Public Employees Retirement System boosted its position in Corning by 9.2% in the 3rd quarter. California Public Employees Retirement System now owns 4,486,974 shares of the electronics maker’s stock valued at $136,718,000 after buying an additional 377,459 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new position in Corning in the 3rd quarter valued at approximately $731,000. Van ECK Associates Corp raised its holdings in shares of Corning by 87.8% in the 3rd quarter. Van ECK Associates Corp now owns 96,254 shares of the electronics maker’s stock valued at $2,933,000 after purchasing an additional 45,001 shares in the last quarter. Finally, Citigroup Inc. raised its holdings in shares of Corning by 10.9% in the 3rd quarter. Citigroup Inc. now owns 1,430,867 shares of the electronics maker’s stock valued at $43,599,000 after purchasing an additional 140,134 shares in the last quarter. Hedge funds and other institutional investors own 67.74% of the company’s stock.

    Analysts Set New Price Targets

    GLW has been the topic of a number of analyst reports. UBS Group raised their price objective on shares of Corning from $29.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, January 11th. StockNews.com lowered shares of Corning from a “hold” rating to a “sell” rating in a report on Wednesday, February 14th. Barclays raised their price objective on shares of Corning from $28.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday, January 31st. Finally, HSBC lowered shares of Corning from a “hold” rating to a “reduce” rating and set a $29.00 price objective on the stock. in a report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $32.88.

    View Our Latest Research Report on Corning

    Corning Price Performance

    Shares of NYSE:GLW opened at $32.45 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.67 and a quick ratio of 1.05. The firm has a market capitalization of $27.70 billion, a P/E ratio of 48.43, a P/E/G ratio of 1.85 and a beta of 1.08. Corning Incorporated has a 12 month low of $25.26 and a 12 month high of $36.01. The company’s fifty day moving average price is $31.32 and its 200 day moving average price is $30.20.

    Corning (NYSE:GLW – Get Free Report) last posted its quarterly earnings data on Tuesday, January 30th. The electronics maker reported $0.39 EPS for the quarter, meeting analysts’ consensus estimates of $0.39. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $3.26 billion. Corning had a net margin of 4.62% and a return on equity of 12.31%. Corning’s quarterly revenue was down 12.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.47 earnings per share. As a group, sell-side analysts predict that Corning Incorporated will post 1.86 earnings per share for the current fiscal year.

    Corning Announces Dividend

    The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Thursday, February 29th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $1.12 dividend on an annualized basis and a yield of 3.45%. Corning’s dividend payout ratio is presently 167.16%.

    Insider Activity

    In other news, Vice Chairman Lawrence D. Mcrae sold 18,200 shares of Corning stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $30.15, for a total value of $548,730.00. Following the sale, the insider now owns 205,258 shares of the company’s stock, valued at $6,188,528.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.40% of the company’s stock.

    About Corning

    (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.

    Read More

    Institutional Ownership by Quarter for Corning (NYSE:GLW)

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  • Stories told in stitchery at Folk Art Museum’s quilt exhibit

    Stories told in stitchery at Folk Art Museum’s quilt exhibit

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    By KIM COOK

    April 26, 2023 GMT

    NEW YORK (AP) — From simple geometric shapes to the intricately wrought details of daily life, the quilt designs in a show now running at the American Folk Art Museum show how powerfully this art form has told stories for centuries and been a vehicle for creativity.

    “What That Quilt Knows About Me” comprises 35 quilts and related works in an intimate gallery space.

    Some tell stories about the maker’s life or process. Others explore quilting technique, using different materials.

    One quilt estimated to be from the early 1800s bursts with details, including tropical flowers and pugs with fancy collars. Curators don’t know who the artist was, but the appliqued imagery reflects popular pastimes of women in the 19th century.

    Another quilt in the exhibit is the work of Carl Klewicke, who ran a tailoring business in Corning, New York, in the early 1900s. The piece, made of vivid bits of silk, faille, taffeta and satin, depicts starry constellations, kites and doves – a joyful and precisely crafted celebration of life that took Klewicke 20 years to finish. He and his wife gave it to their daughter on her wedding day.

    Sade Ayorinde, one of the curators, says her favorite piece is the Whig Rose and Swag Border Quilt. For decades, it was attributed to a white woman who owned a Kentucky plantation, but an old note pinned to the back reveals the truth: Enslaved women in the household were the real crafters.

    Two possible makers have been identified, sisters whose mother cared for the plantation owners’ children.

    “It’s incredible to be able to point to the material contributions of Black people in the 19th century as special, valuable and beautiful,” says Ayorinde. “What this quilt knows and exposes is a bit about Black-lived experiences and artistic excellence, even under oppressive circumstances.”

    Emelie Gevalt, the museum’s curator of folk art and curatorial chair for collections, was especially drawn to one quilt from West Chester, Pennsylvania.

    The “Sacret Bibel” is known by the maker’s phonetically spelled inscription at the top. The name Susan Arrowood is inscribed at the bottom, but nobody knows who Susan might have been, despite extensive research in the area where the quilt was found.

    It’s a busy, color- and imagery-packed, appliqued picture book of vignettes drawn from Bible stories, and perhaps from people and experiences in the quilter’s own life.

    “Every time I look at it, I find something new,” says Gevalt. “Her composition explodes with creativity. Even though we don’t know much about this quilter, you look at her work and have to imagine that the exuberance of her vision captures something about the maker’s personality and experience.”

    Another powerful piece is the “Soldier’s Quilt: Square Within a Square.” It’s made of the thick red, yellow and black wool used in military uniforms, and curators say the tight geometric motif of small squares was similar to woodworking patterns, perhaps an allusion to an activity considered masculine.

    There was a tradition among British soldiers during the Crimean War in the mid-1800s to create quilts as a way to pass the time while awaiting orders or recovering from injuries. The craft was encouraged by leadership as an alternative to gambling and drinking. Imagine weary groups of soldiers piecing and stitching a creative testament to their war-battered years.

    Noah’s Ark was a popular theme in late 19th century quilts, and there’s a fine example in the show, from either Nova Scotia or Quebec.

    Instead of the usual design, with the ark on top and the animal twosomes parading in a circle around the quilt, this one has the ark in the center, with the couples lined up in rows. Creatures have been scaled playfully; insects are the size of penguins, and cats are bigger than pigs. Another distinctive feature: The quilter included Noah’s whole family.

    From Tokyo, a quilt gifted to the museum by artist Setsuko Obi is called “Light from Far-Away Space.” Standing a distance away from it gives you the impression of a glowing galaxy surrounded by brightly colored stars. But up close, you see that each block in the quilt is folded like origami, with hand-woven silks and fabrics from antique kimonos.

    The exhibition also includes several colorblock quilts that look remarkably modern, including an early 20th century “Diamond in the Square” that’s probably Amish. Amish quilters preferred simple, geometric patterns and colors; the community frowned on overly pictorial motifs and multicolored patterns.

    Another stunning yet simple piece is the “Calamanco Quilt with Border,” from the early 1800s. Its wool, made in England using a hot-iron process that created a glazed surface, is dyed two shades of brilliant indigo. Looking at the nearly 8-square-foot quilt gently glowing under the museum’s cleverly unobtrusive lighting is like peering into the depths of the sea.

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    “What That Quilt Knows About Me” runs at the American Folk Art Museum until Oct. 29.

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    New York-based writer Kim Cook covers design and decor topics regularly for The AP. Follow her on Instagram at @kimcookhome.

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    For more AP Lifestyles stories, go to https://apnews.com/hub/lifestyle.

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