Asset Management One Co. Ltd. Buys 13,146 Shares of Corning Incorporated (NYSE:GLW)

Asset Management One Co. Ltd. raised its position in Corning Incorporated (NYSE:GLW - Free Report) by 4.2% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 328,220 shares of the electronics maker's stock after acquiring an additional 13,146 shares during the period. Asset Management One Co. Ltd.'s holdings in Corning were worth $14,819,000 as of its most recent filing with the SEC.

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

Corning Price Performance

Corning stock traded down $0.02 during trading hours on Thursday, reaching $48.23. 2,831,808 shares of the stock were exchanged, compared to its average volume of 5,722,570. The stock has a 50 day moving average of $44.83 and a two-hundred day moving average of $40.75. The company has a market cap of $41.29 billion, a P/E ratio of 283.76, a price-to-earnings-growth ratio of 1.51 and a beta of 1.03. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.62. Corning Incorporated has a twelve month low of $26.94 and a twelve month high of $51.03.

Corning (NYSE:GLW - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The electronics maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.53 by $0.01. Corning had a net margin of 1.24% and a return on equity of 13.45%. The business had revenue of $3.39 billion for the quarter, compared to analysts' expectations of $3.72 billion. During the same period last year, the firm posted $0.45 earnings per share. The firm's quarterly revenue was up 6.9% compared to the same quarter last year. Equities analysts expect that Corning Incorporated will post 1.95 EPS for the current fiscal year.

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend is Friday, November 15th. Corning's dividend payout ratio is presently 658.82%.

Analyst Ratings Changes

A number of research analysts have recently commented on GLW shares. Citigroup lifted their price objective on shares of Corning from $45.00 to $51.00 and gave the company a "buy" rating in a research report on Friday, July 12th. Mizuho raised Corning from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $44.00 to $47.00 in a research report on Wednesday, August 21st. StockNews.com upgraded Corning from a "hold" rating to a "buy" rating in a research note on Thursday, October 31st. Morgan Stanley reaffirmed an "equal weight" rating and set a $39.00 price objective on shares of Corning in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Corning from $55.00 to $60.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, Corning currently has a consensus rating of "Moderate Buy" and an average target price of $50.08.

Corning 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.