Virtu KCG Holdings LLC lessened its stake in shares of Corning Incorporated (NYSE:GLW) by 78.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,813 shares of the electronics maker’s stock after selling 62,620 shares during the period. Virtu KCG Holdings LLC’s holdings in Corning were worth $505,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of GLW. Waldron LP increased its position in shares of Corning by 72.6% during the 1st quarter. Waldron LP now owns 14,986 shares of the electronics maker’s stock worth $376,000 after purchasing an additional 6,303 shares during the last quarter. Virginia Retirement Systems ET AL increased its position in shares of Corning by 20.7% during the 1st quarter. Virginia Retirement Systems ET AL now owns 793,600 shares of the electronics maker’s stock worth $21,427,000 after purchasing an additional 135,900 shares during the last quarter. Zweig DiMenna Associates LLC acquired a new stake in shares of Corning during the 1st quarter worth about $424,000. CIBC World Markets Inc. increased its position in shares of Corning by 575.1% during the 1st quarter. CIBC World Markets Inc. now owns 1,711,673 shares of the electronics maker’s stock worth $46,215,000 after purchasing an additional 1,458,114 shares during the last quarter. Finally, Smith Moore & CO. increased its position in shares of Corning by 1.8% during the 1st quarter. Smith Moore & CO. now owns 11,450 shares of the electronics maker’s stock worth $309,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 71.30% of the company’s stock.

GLW has been the subject of a number of recent analyst reports. Vetr raised Corning from a “buy” rating to a “strong-buy” rating and set a $33.69 price objective for the company in a research report on Monday, July 10th. BidaskClub raised Corning from a “hold” rating to a “buy” rating in a research report on Saturday, August 26th. Guggenheim reaffirmed a “buy” rating and issued a $35.00 target price on shares of Corning in a research report on Tuesday, August 15th. Susquehanna Bancshares Inc reaffirmed a “positive” rating and issued a $35.00 target price on shares of Corning in a research report on Thursday, August 24th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Corning in a research report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $28.90.

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Shares of Corning Incorporated (GLW) opened at 30.03 on Wednesday. The stock’s 50 day moving average price is $29.40 and its 200 day moving average price is $29.16. The stock has a market cap of $27.12 billion, a PE ratio of 13.41 and a beta of 1.38. Corning Incorporated has a 1-year low of $22.23 and a 1-year high of $32.17.

Corning (NYSE:GLW) last announced its quarterly earnings results on Wednesday, July 26th. The electronics maker reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.02. The business had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.54 billion. Corning had a return on equity of 11.67% and a net margin of 24.16%. The business’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business posted $0.37 EPS. On average, equities research analysts anticipate that Corning Incorporated will post $1.69 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 16th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Wednesday, November 15th. Corning’s payout ratio is currently 27.93%.

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

Corning 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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