Braun Stacey Associates Inc. boosted its position in Corning Incorporated (NYSE:GLW) by 0.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 547,130 shares of the electronics maker’s stock after buying an additional 2,825 shares during the period. Braun Stacey Associates Inc. owned 0.06% of Corning worth $16,441,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Corning by 0.5% in the first quarter. Vanguard Group Inc. now owns 61,135,545 shares of the electronics maker’s stock valued at $1,650,659,000 after buying an additional 326,877 shares during the last quarter. BlackRock Inc. boosted its position in Corning by 1,930.0% in the first quarter. BlackRock Inc. now owns 56,841,179 shares of the electronics maker’s stock valued at $1,534,712,000 after buying an additional 54,041,176 shares during the last quarter. Geode Capital Management LLC boosted its position in Corning by 12.8% in the first quarter. Geode Capital Management LLC now owns 9,425,858 shares of the electronics maker’s stock valued at $254,146,000 after buying an additional 1,071,544 shares during the last quarter. Morgan Stanley boosted its position in Corning by 20.0% in the first quarter. Morgan Stanley now owns 8,748,204 shares of the electronics maker’s stock valued at $236,202,000 after buying an additional 1,456,304 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Corning by 0.7% in the first quarter. Dimensional Fund Advisors LP now owns 7,948,991 shares of the electronics maker’s stock valued at $214,656,000 after buying an additional 53,440 shares during the last quarter. 73.87% of the stock is currently owned by institutional investors and hedge funds.

Corning Incorporated (NYSE GLW) opened at 28.19 on Tuesday. The firm has a 50 day moving average of $29.95 and a 200 day moving average of $28.64. Corning Incorporated has a one year low of $22.14 and a one year high of $32.17. The firm has a market capitalization of $25.46 billion, a PE ratio of 12.59 and a beta of 1.40.

Corning (NYSE:GLW) last released its quarterly earnings results on Wednesday, July 26th. The electronics maker reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. Corning had a return on equity of 11.67% and a net margin of 24.16%. The firm had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the prior year, the firm posted $0.37 EPS. The business’s revenue was up 6.1% on a year-over-year basis. Equities analysts forecast that Corning Incorporated will post $1.71 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, August 31st will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Tuesday, August 29th. Corning’s dividend payout ratio (DPR) is currently 27.93%.

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GLW has been the topic of several research analyst reports. BidaskClub cut shares of Corning from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a $29.00 target price on shares of Corning in a research note on Wednesday, April 26th. Drexel Hamilton reissued a “sell” rating and set a $17.50 target price on shares of Corning in a research note on Wednesday, July 26th. Zacks Investment Research cut shares of Corning from a “buy” rating to a “hold” rating in a research note on Thursday, April 27th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $27.50 target price on shares of Corning in a research note on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Corning currently has a consensus rating of “Hold” and an average price target of $28.08.

In other news, insider Clark S. Kinlin sold 40,717 shares of the stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $29.62, for a total value of $1,206,037.54. Following the completion of the sale, the insider now owns 72,707 shares of the company’s stock, valued at approximately $2,153,581.34. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider James P. Clappin sold 106,983 shares of the stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $29.25, for a total value of $3,129,252.75. Following the completion of the sale, the insider now directly owns 91,552 shares of the company’s stock, valued at approximately $2,677,896. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 301,200 shares of company stock valued at $8,875,820. Insiders own 0.59% of the company’s stock.

Corning Company Profile

Corning Incorporated is engaged in manufacturing specialty glass and ceramics. Its segments include Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, Life Sciences and All Other. The Display Technologies segment manufactures glass substrates for flat panel liquid crystal displays (LCDs).

Institutional Ownership by Quarter for Corning (NYSE:GLW)

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