10,940 Shares in Corning Incorporated (NYSE:GLW) Bought by Second Half Financial Partners LLC

Second Half Financial Partners LLC purchased a new position in shares of Corning Incorporated (NYSE:GLW - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,940 shares of the electronics maker's stock, valued at approximately $494,000.

A number of other large investors also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its position in shares of Corning by 35.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,200,828 shares of the electronics maker's stock worth $566,941,000 after buying an additional 4,464,893 shares during the period. Dimensional Fund Advisors LP increased its stake in Corning by 4.3% during the second quarter. Dimensional Fund Advisors LP now owns 10,342,949 shares of the electronics maker's stock worth $401,826,000 after acquiring an additional 426,864 shares during the last quarter. Swiss National Bank raised its holdings in shares of Corning by 0.6% in the 3rd quarter. Swiss National Bank now owns 2,415,500 shares of the electronics maker's stock worth $109,060,000 after purchasing an additional 14,900 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Corning by 0.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,936,928 shares of the electronics maker's stock valued at $87,452,000 after purchasing an additional 10,311 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in shares of Corning by 215.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,677,513 shares of the electronics maker's stock valued at $75,740,000 after purchasing an additional 1,145,955 shares in the last quarter. Hedge funds and other institutional investors own 69.80% of the company's stock.

Corning Stock Up 1.9 %

GLW stock traded up $0.86 during midday trading on Tuesday, hitting $47.30. 4,959,248 shares of the company's stock were exchanged, compared to its average volume of 5,666,873. The firm has a 50 day moving average price of $45.85 and a 200-day moving average price of $41.68. Corning Incorporated has a 12-month low of $27.57 and a 12-month high of $51.03. The stock has a market capitalization of $40.50 billion, a price-to-earnings ratio of 273.18, 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 (NYSE:GLW - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The electronics maker reported $0.54 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the previous year, the firm earned $0.45 earnings per share. The business's revenue was up 6.9% compared to the same quarter last year. On average, analysts anticipate that Corning Incorporated will post 1.95 EPS for the current year.

Corning Announces Dividend

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 paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.12 dividend on an annualized basis and a yield of 2.37%. Corning's dividend payout ratio (DPR) is 658.82%.

Analyst Upgrades and Downgrades

GLW has been the topic of several research reports. StockNews.com upgraded shares of Corning from a "hold" rating to a "buy" rating in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Corning from $49.00 to $54.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Barclays lifted their target price on shares of Corning from $40.00 to $53.00 and gave the company an "equal weight" rating in a report on Tuesday, October 29th. Bank of America increased their price target on Corning from $46.00 to $51.00 and gave the company a "buy" rating in a report on Friday, September 20th. Finally, JPMorgan Chase & Co. boosted their price objective on Corning from $55.00 to $60.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.08.

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.