Capital Advisors Inc. OK Has $34.33 Million Holdings in Corning Incorporated (NYSE:GLW)

Capital Advisors Inc. OK lifted its holdings in Corning Incorporated (NYSE:GLW - Free Report) by 2.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 722,501 shares of the electronics maker's stock after acquiring an additional 18,121 shares during the quarter. Capital Advisors Inc. OK owned approximately 0.08% of Corning worth $34,333,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of GLW. Sound Income Strategies LLC boosted its holdings in shares of Corning by 76.7% in the 4th quarter. Sound Income Strategies LLC now owns 523 shares of the electronics maker's stock worth $25,000 after acquiring an additional 227 shares in the last quarter. Rosenberg Matthew Hamilton lifted its holdings in Corning by 202.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 747 shares of the electronics maker's stock worth $35,000 after buying an additional 500 shares in the last quarter. Cassady Schiller Wealth Management LLC acquired a new position in Corning during the 3rd quarter worth $39,000. RPg Family Wealth Advisory LLC acquired a new position in Corning during the 3rd quarter worth $40,000. Finally, Union Bancaire Privee UBP SA acquired a new position in Corning during the 4th quarter worth $40,000. 69.80% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Corning

In related news, SVP John P. Bayne, Jr. sold 5,000 shares of the business's stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $48.39, for a total value of $241,950.00. Following the sale, the senior vice president now 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Eric S. Musser sold 30,000 shares of the business's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $51.92, for a total transaction of $1,557,600.00. Following the completion of the sale, the chief operating officer now directly owns 152,944 shares in the company, valued at approximately $7,940,852.48. This represents a 16.40 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,085 shares of company stock worth $2,345,436. Corporate insiders own 0.40% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on GLW shares. Oppenheimer reaffirmed an "outperform" rating and set a $58.00 price objective (up previously from $51.00) on shares of Corning in a report on Wednesday, October 30th. HSBC upgraded shares of Corning from a "hold" rating to a "buy" rating and upped their target price for the company from $51.00 to $60.00 in a research report on Thursday, January 30th. JPMorgan Chase & Co. upped their target price 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. StockNews.com upgraded shares of Corning from a "hold" rating to a "buy" rating in a research report on Tuesday, December 24th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Corning from $49.00 to $54.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Corning has a consensus rating of "Moderate Buy" and an average target price of $53.00.

Corning Stock Performance

Shares of NYSE:GLW traded up $0.47 during trading on Friday, reaching $52.58. 3,779,586 shares of the stock were exchanged, compared to its average volume of 6,591,637. Corning Incorporated has a 12 month low of $30.72 and a 12 month high of $55.33. The firm has a market cap of $45.02 billion, a PE ratio of 90.66, a PEG ratio of 1.55 and a beta of 1.03. The stock has a 50-day moving average price of $49.52 and a 200-day moving average price of $46.23. The company has a current ratio of 1.62, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The electronics maker reported $0.57 earnings per share for the quarter, beating analysts' consensus estimates of $0.56 by $0.01. Corning had a net margin of 3.86% and a return on equity of 15.10%. Research analysts expect that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.28 per share. The ex-dividend date is Friday, February 28th. This represents a $1.12 annualized dividend and a dividend yield of 2.13%. Corning's dividend payout ratio (DPR) is presently 193.11%.

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.