Natixis Advisors LLC boosted its stake in shares of Corning Incorporated (NYSE:GLW - Free Report) by 10.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 287,153 shares of the electronics maker's stock after purchasing an additional 26,364 shares during the quarter. Natixis Advisors LLC's holdings in Corning were worth $12,965,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently added to or reduced their stakes in GLW. West Oak Capital LLC boosted its holdings in shares of Corning by 0.4% in the 3rd quarter. West Oak Capital LLC now owns 51,565 shares of the electronics maker's stock valued at $2,328,000 after buying an additional 215 shares in the last quarter. Lake Street Advisors Group LLC boosted its stake in Corning by 4.5% in the third quarter. Lake Street Advisors Group LLC now owns 5,444 shares of the electronics maker's stock valued at $246,000 after acquiring an additional 232 shares in the last quarter. SteelPeak Wealth LLC grew its holdings in Corning by 3.3% in the third quarter. SteelPeak Wealth LLC now owns 7,481 shares of the electronics maker's stock worth $338,000 after purchasing an additional 239 shares during the last quarter. Grove Bank & Trust increased its position in shares of Corning by 21.5% during the second quarter. Grove Bank & Trust now owns 1,414 shares of the electronics maker's stock worth $55,000 after purchasing an additional 250 shares in the last quarter. Finally, Brown Lisle Cummings Inc. lifted its holdings in shares of Corning by 1.5% during the 3rd quarter. Brown Lisle Cummings Inc. now owns 17,050 shares of the electronics maker's stock valued at $770,000 after purchasing an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 69.80% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on GLW. Morgan Stanley reaffirmed an "equal weight" rating and set a $39.00 target price on shares of Corning in a research report on Friday, July 26th. UBS Group upped their price objective on shares of Corning from $46.00 to $51.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Barclays lifted their target price on shares of Corning from $40.00 to $53.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 29th. Bank of America upped their price target on shares of Corning from $46.00 to $51.00 and gave the company a "buy" rating in a research note on Friday, September 20th. Finally, StockNews.com upgraded shares of Corning from a "hold" rating to a "buy" rating in a research note on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $50.08.
Check Out Our Latest Stock Report on GLW
Corning Stock Performance
NYSE GLW opened at $47.35 on Thursday. The firm has a market capitalization of $40.54 billion, a P/E ratio of 278.53, a PEG ratio of 1.51 and a beta of 1.03. The stock has a 50-day simple moving average of $46.08 and a two-hundred day simple moving average of $41.81. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.05 and a current ratio of 1.66. Corning Incorporated has a fifty-two week low of $27.57 and a fifty-two week high of $51.03.
Corning (NYSE:GLW - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $3.39 billion during the quarter, compared to analysts' expectations of $3.72 billion. During the same period last year, the business earned $0.45 earnings per share. Corning's quarterly revenue was up 6.9% on a year-over-year basis. On average, equities analysts forecast that Corning Incorporated will post 1.95 earnings per share for the current year.
Corning Dividend Announcement
The company also recently declared 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. The ex-dividend date is Friday, November 15th. This represents a $1.12 annualized dividend and a yield of 2.37%. Corning's dividend payout ratio is presently 658.82%.
Corning Company Profile
(
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.
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