Private Advisor Group LLC increased its stake in shares of Corning Incorporated (NYSE:GLW) by 6.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,061 shares of the electronics maker’s stock after buying an additional 5,006 shares during the quarter. Private Advisor Group LLC’s holdings in Corning were worth $2,441,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. GLG Partners LP bought a new position in shares of Corning in the second quarter worth $102,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of Corning by 241.6% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 3,747 shares of the electronics maker’s stock worth $112,000 after purchasing an additional 2,650 shares in the last quarter. MPS Loria Financial Planners LLC bought a new position in shares of Corning in the second quarter worth $112,000. IHT Wealth Management LLC grew its stake in shares of Corning by 13.4% in the second quarter. IHT Wealth Management LLC now owns 4,117 shares of the electronics maker’s stock worth $165,000 after purchasing an additional 485 shares in the last quarter. Finally, Central Bank & Trust Co. grew its stake in shares of Corning by 8.8% in the second quarter. Central Bank & Trust Co. now owns 4,264 shares of the electronics maker’s stock worth $128,000 after purchasing an additional 345 shares in the last quarter. Hedge funds and other institutional investors own 72.43% of the company’s stock.

In other news, insider Mark S. Rogus sold 9,242 shares of the company’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $32.12, for a total transaction of $296,853.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Hansel E. Tookes II sold 6,513 shares of the company’s stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $31.60, for a total value of $205,810.80. Following the sale, the director now directly owns 88,946 shares of the company’s stock, valued at $2,810,693.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 294,561 shares of company stock valued at $9,254,498. Insiders own 0.59% of the company’s stock.

Several research firms have recently issued reports on GLW. Goldman Sachs Group cut Corning from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $29.00 to $26.00 in a research note on Tuesday, August 15th. Zacks Investment Research cut Corning from a “hold” rating to a “sell” rating in a research note on Friday, October 20th. Deutsche Bank increased their price target on Corning from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Guggenheim reissued a “buy” rating and issued a $35.00 price target on shares of Corning in a research note on Tuesday, August 15th. Finally, BidaskClub raised Corning from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Corning has an average rating of “Hold” and a consensus price target of $29.28.

Shares of Corning Incorporated (NYSE:GLW) traded up $0.03 during trading on Wednesday, hitting $32.24. The stock had a trading volume of 4,383,400 shares, compared to its average volume of 6,182,671. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.14 and a current ratio of 2.69. The firm has a market capitalization of $27,992.34, a price-to-earnings ratio of 18.51, a price-to-earnings-growth ratio of 2.68 and a beta of 1.33. Corning Incorporated has a twelve month low of $23.59 and a twelve month high of $32.78.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, October 24th. The electronics maker reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.02. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.59 billion. Corning had a return on equity of 11.53% and a net margin of 24.98%. The company’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.42 earnings per share. equities research analysts expect that Corning Incorporated will post 1.7 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 16th will be issued a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $0.62 annualized dividend and a dividend yield of 1.92%. Corning’s dividend payout ratio (DPR) is 26.38%.

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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).

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Institutional Ownership by Quarter for Corning (NYSE:GLW)

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