Northwestern Mutual Wealth Management Co. lifted its stake in Corning Incorporated (NYSE:GLW) by 11.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,520 shares of the electronics maker’s stock after purchasing an additional 3,909 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Corning were worth $1,127,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Corning by 0.5% in the first quarter. Vanguard Group Inc. now owns 61,135,545 shares of the electronics maker’s stock worth $1,650,659,000 after purchasing an additional 326,877 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Corning by 1,930.0% in the first quarter. BlackRock Inc. now owns 56,841,179 shares of the electronics maker’s stock worth $1,534,712,000 after purchasing an additional 54,041,176 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Corning by 5.7% in the second quarter. Bank of New York Mellon Corp now owns 17,882,917 shares of the electronics maker’s stock worth $537,381,000 after purchasing an additional 971,936 shares during the last quarter. LSV Asset Management grew its holdings in shares of Corning by 1.3% in the second quarter. LSV Asset Management now owns 13,011,732 shares of the electronics maker’s stock worth $391,002,000 after purchasing an additional 165,214 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Corning by 12.8% in the first quarter. Geode Capital Management LLC now owns 9,425,858 shares of the electronics maker’s stock worth $254,146,000 after purchasing an additional 1,071,544 shares during the last quarter. Hedge funds and other institutional investors own 71.30% of the company’s stock.

Corning Incorporated (NYSE:GLW) opened at 29.91 on Wednesday. The company has a 50 day moving average of $28.89 and a 200 day moving average of $28.87. Corning Incorporated has a 12 month low of $22.23 and a 12 month high of $32.17. The stock has a market capitalization of $27.01 billion, a price-to-earnings ratio of 13.36 and a beta of 1.40.

Corning (NYSE:GLW) last announced its quarterly earnings data on Wednesday, July 26th. The electronics maker reported $0.42 EPS for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.02. Corning had a return on equity of 11.67% and a net margin of 24.16%. The business had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the previous year, the company posted $0.37 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities analysts predict that Corning Incorporated will post $1.70 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, August 31st will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Tuesday, August 29th. Corning’s dividend payout ratio (DPR) is 27.93%.

In related news, insider Clark S. Kinlin sold 46,763 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $28.53, for a total value of $1,334,148.39. Following the completion of the transaction, the insider now directly owns 72,039 shares of the company’s stock, valued at $2,055,272.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Lawrence D. Mcrae sold 48,125 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $28.61, for a total value of $1,376,856.25. Following the completion of the transaction, the insider now directly owns 136,079 shares of the company’s stock, valued at $3,893,220.19. The disclosure for this sale can be found here. Insiders sold 127,888 shares of company stock valued at $3,653,485 over the last ninety days. 0.59% of the stock is currently owned by corporate insiders.

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Several brokerages have issued reports on GLW. Susquehanna Bancshares Inc reiterated a “positive” rating and set a $35.00 target price on shares of Corning in a report on Thursday, August 24th. BidaskClub cut shares of Corning from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Drexel Hamilton reiterated a “sell” rating and set a $17.50 target price on shares of Corning in a report on Wednesday, July 26th. Jefferies Group LLC reiterated a “hold” rating and set a $27.50 target price on shares of Corning in a report on Friday, July 14th. Finally, Vetr upgraded shares of Corning from a “buy” rating to a “strong-buy” rating and set a $33.69 target price on the stock in a report on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Corning currently has a consensus rating of “Hold” and an average target price of $28.21.

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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