Corning Incorporated (NYSE:GLW) Shares Bought by Stifel Financial Corp

Stifel Financial Corp grew its position in Corning Incorporated (NYSE:GLW - Free Report) by 1.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,810,435 shares of the electronics maker's stock after buying an additional 52,667 shares during the quarter. Stifel Financial Corp owned 0.33% of Corning worth $126,893,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. FMR LLC grew its stake in shares of Corning by 52.8% in the third quarter. FMR LLC now owns 3,723,044 shares of the electronics maker's stock valued at $168,095,000 after buying an additional 1,285,836 shares in the last quarter. MBB Public Markets I LLC grew its stake in Corning by 806.7% during the 2nd quarter. MBB Public Markets I LLC now owns 64,965 shares of the electronics maker's stock worth $2,524,000 after purchasing an additional 57,800 shares in the last quarter. Dark Forest Capital Management LP acquired a new position in Corning during the 2nd quarter worth $511,000. Transamerica Financial Advisors Inc. grew its stake in Corning by 529.6% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 16,533 shares of the electronics maker's stock worth $747,000 after purchasing an additional 13,907 shares in the last quarter. Finally, National Pension Service grew its stake in Corning by 11.3% during the 3rd quarter. National Pension Service now owns 1,508,868 shares of the electronics maker's stock worth $68,125,000 after purchasing an additional 152,922 shares in the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.

Corning Stock Performance

Shares of Corning stock traded down $0.20 on Friday, hitting $49.56. The stock had a trading volume of 3,277,802 shares, compared to its average volume of 5,579,680. Corning Incorporated has a 52-week low of $28.76 and a 52-week high of $51.03. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.62. The stock has a market cap of $42.43 billion, a price-to-earnings ratio of 291.53, a P/E/G ratio of 1.57 and a beta of 1.03. The company's 50 day moving average price is $47.23 and its 200 day moving average price is $42.95.

Corning (NYSE:GLW - Get Free Report) last posted its 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 business had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the previous year, the business earned $0.45 EPS. The business's quarterly revenue was up 6.9% on a year-over-year basis. On average, research analysts anticipate that Corning Incorporated will post 1.95 EPS for the current year.

Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Friday, November 15th. Corning's dividend payout ratio is presently 658.82%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Mizuho raised Corning from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $44.00 to $47.00 in a research note on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft boosted their target price on Corning from $49.00 to $54.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Barclays boosted their target price on Corning from $40.00 to $53.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 29th. UBS Group boosted their target price on Corning from $46.00 to $51.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Finally, Susquehanna lifted their price target on Corning from $46.00 to $55.00 and gave the stock a "positive" rating in a report on Friday, September 20th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Corning has an average rating of "Moderate Buy" and an average price target of $50.08.

Insider Buying and Selling at Corning

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

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.