Barclays PLC Has $85.47 Million Position in Corning Incorporated (NYSE:GLW)

Barclays PLC lifted its stake in Corning Incorporated (NYSE:GLW - Free Report) by 8.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,892,946 shares of the electronics maker's stock after buying an additional 148,042 shares during the period. Barclays PLC owned approximately 0.22% of Corning worth $85,468,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Public Employees Retirement System of Ohio boosted its stake in shares of Corning by 7.0% in the third quarter. Public Employees Retirement System of Ohio now owns 312,878 shares of the electronics maker's stock valued at $14,126,000 after purchasing an additional 20,586 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in Corning by 5.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 243,638 shares of the electronics maker's stock valued at $11,000,000 after buying an additional 13,386 shares during the last quarter. Zacks Investment Management acquired a new stake in shares of Corning during the third quarter valued at about $4,772,000. EP Wealth Advisors LLC increased its position in shares of Corning by 2.4% during the third quarter. EP Wealth Advisors LLC now owns 15,446 shares of the electronics maker's stock worth $697,000 after acquiring an additional 364 shares during the last quarter. Finally, Insigneo Advisory Services LLC lifted its stake in shares of Corning by 4.7% in the third quarter. Insigneo Advisory Services LLC now owns 7,683 shares of the electronics maker's stock worth $347,000 after acquiring an additional 345 shares in the last quarter. Institutional investors and hedge funds own 69.80% of the company's stock.

Insider Activity

In related news, SVP John P. Bayne, Jr. sold 5,000 shares of Corning stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $48.39, for a total value of $241,950.00. Following the transaction, the senior vice president now directly owns 6,700 shares of the company's stock, valued at $324,213. The trade was a 42.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John P. Bayne, Jr. sold 8,876 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $49.09, for a total transaction of $435,722.84. The disclosure for this sale can be found here. 0.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Bank of America raised their price objective on Corning from $46.00 to $51.00 and gave the company a "buy" rating in a research note on Friday, September 20th. Susquehanna raised their price target on shares of Corning from $46.00 to $55.00 and gave the stock a "positive" rating in a research report on Friday, September 20th. Mizuho upgraded shares of Corning from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $44.00 to $47.00 in a research note on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Corning from $49.00 to $54.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Finally, Oppenheimer restated an "outperform" rating and issued a $58.00 target price (up previously from $51.00) on shares of Corning in a research note on Wednesday, October 30th. Five equities 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, the stock currently has an average rating of "Moderate Buy" and an average price target of $50.08.

Corning Stock Performance

NYSE GLW traded up $0.98 during trading on Thursday, reaching $48.61. 4,647,702 shares of the company's stock were exchanged, compared to its average volume of 5,560,750. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.66 and a quick ratio of 1.05. The business has a 50 day moving average price of $47.42 and a 200-day moving average price of $43.24. Corning Incorporated has a fifty-two week low of $29.14 and a fifty-two week high of $51.03. The stock has a market capitalization of $41.62 billion, a P/E ratio of 285.94, a PEG ratio of 1.55 and a beta of 1.03.

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 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 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 firm earned $0.45 EPS. The company's quarterly revenue was up 6.9% compared to the same quarter last year. Sell-side 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. Investors of record on Friday, November 15th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Friday, November 15th. Corning's dividend payout ratio is 658.82%.

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.