21,931 Shares in Corning Incorporated (NYSE:GLW) Acquired by Jackson Square Capital LLC

Jackson Square Capital LLC bought a new stake in Corning Incorporated (NYSE:GLW - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 21,931 shares of the electronics maker's stock, valued at approximately $990,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. City Holding Co. raised its stake in shares of Corning by 545.5% in the third quarter. City Holding Co. now owns 710 shares of the electronics maker's stock worth $32,000 after purchasing an additional 600 shares during the last quarter. Global Trust Asset Management LLC lifted its stake in Corning by 2,250.0% during the 3rd quarter. Global Trust Asset Management LLC now owns 940 shares of the electronics maker's stock valued at $42,000 after acquiring an additional 900 shares during the period. ESL Trust Services LLC purchased a new stake in shares of Corning in the 1st quarter valued at $33,000. Accordant Advisory Group Inc acquired a new stake in shares of Corning in the second quarter worth $39,000. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of Corning during the third quarter worth $45,000. Hedge funds and other institutional investors own 69.80% of the company's stock.

Corning Price Performance

GLW stock traded down $0.02 during trading on Thursday, hitting $48.23. The stock had a trading volume of 2,831,808 shares, compared to its average volume of 5,722,570. The company's 50-day moving average price is $44.83 and its two-hundred day moving average price is $40.75. Corning Incorporated has a twelve month low of $26.94 and a twelve month high of $51.03. The stock has a market capitalization of $41.29 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 - Get Free Report) last issued its quarterly earnings results 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 during the quarter, compared to analysts' expectations of $3.72 billion. During the same period in the previous year, the business earned $0.45 earnings per share. The firm's revenue for the quarter was up 6.9% on a year-over-year basis. As a group, research analysts predict that Corning Incorporated will post 1.95 EPS for the current fiscal year.

Corning Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on GLW shares. Susquehanna increased their price target on Corning from $46.00 to $55.00 and gave the stock a "positive" rating in a research report on Friday, September 20th. Barclays raised their target price on Corning from $40.00 to $53.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft boosted their price target on Corning from $49.00 to $54.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. StockNews.com raised shares of Corning from a "hold" rating to a "buy" rating in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Corning from $55.00 to $60.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Corning presently has a consensus rating of "Moderate Buy" and a consensus target price of $50.08.

Corning Company Profile

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.