KBC Group NV Has $5.64 Million Stock Holdings in Corning Incorporated (NYSE:GLW)

KBC Group NV raised its position in shares of Corning Incorporated (NYSE:GLW - Free Report) by 19.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 124,820 shares of the electronics maker's stock after purchasing an additional 20,474 shares during the period. KBC Group NV's holdings in Corning were worth $5,635,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Huntington National Bank grew its holdings in Corning by 3.5% during the third quarter. Huntington National Bank now owns 69,705 shares of the electronics maker's stock worth $3,147,000 after acquiring an additional 2,365 shares during the period. Mizuho Securities Co. Ltd. bought a new stake in shares of Corning in the 3rd quarter worth approximately $388,000. Main Street Financial Solutions LLC lifted its stake in Corning by 6.6% during the third quarter. Main Street Financial Solutions LLC now owns 8,955 shares of the electronics maker's stock valued at $404,000 after purchasing an additional 555 shares during the last quarter. Aptus Capital Advisors LLC grew its position in Corning by 16.9% in the third quarter. Aptus Capital Advisors LLC now owns 7,696 shares of the electronics maker's stock worth $347,000 after buying an additional 1,115 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Corning by 0.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,936,928 shares of the electronics maker's stock valued at $87,452,000 after buying an additional 10,311 shares in the last quarter. Institutional investors own 69.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on GLW shares. Morgan Stanley reaffirmed an "equal weight" rating and set a $39.00 target price on shares of Corning in a report on Friday, July 26th. Susquehanna lifted their price objective on shares of Corning from $46.00 to $55.00 and gave the company a "positive" rating in a research note on Friday, September 20th. Bank of America increased their target price on shares of Corning from $46.00 to $51.00 and gave the stock a "buy" rating in a research report on Friday, September 20th. Deutsche Bank Aktiengesellschaft upped their price target on Corning from $49.00 to $54.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Finally, Mizuho raised Corning from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $44.00 to $47.00 in a research note on Wednesday, August 21st. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Corning currently has an average rating of "Moderate Buy" and an average price target of $50.08.

Corning Stock Performance

Shares of NYSE:GLW remained flat at $46.49 during trading on Monday. The company's stock had a trading volume of 1,939,336 shares, compared to its average volume of 5,662,640. The stock has a market capitalization of $39.81 billion, a PE ratio of 273.47, a price-to-earnings-growth ratio of 1.49 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 52-week low of $27.57 and a 52-week high of $51.03. The firm has a fifty day simple moving average of $45.74 and a two-hundred day simple moving average of $41.59.

Corning (NYSE:GLW - Get Free Report) last released its earnings results on Tuesday, October 29th. The electronics maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. Corning had a net margin of 1.24% and a return on equity of 13.45%. The firm had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period last year, the firm earned $0.45 EPS. The business's quarterly revenue was up 6.9% compared to the same quarter last year. As a group, research analysts predict that Corning Incorporated will post 1.95 EPS for the current 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 paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Friday, November 15th. Corning's dividend payout ratio is currently 658.82%.

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.