Strategic Wealth Partners Ltd. grew its holdings in shares of Corning Incorporated (NYSE:GLW) by 5.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 37,237 shares of the electronics maker’s stock after acquiring an additional 1,782 shares during the period. Strategic Wealth Partners Ltd.’s holdings in Corning were worth $1,314,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Belpointe Asset Management LLC bought a new position in shares of Corning during the third quarter valued at $142,000. Morgan Stanley raised its stake in Corning by 10.4% during the third quarter. Morgan Stanley now owns 6,084,855 shares of the electronics maker’s stock worth $214,795,000 after buying an additional 573,273 shares during the last quarter. Paradigm Asset Management Co. LLC bought a new position in Corning during the third quarter worth $3,133,000. B. Riley Wealth Management Inc. bought a new position in Corning during the third quarter worth $243,000. Finally, Nordea Investment Management AB raised its stake in Corning by 13.4% during the third quarter. Nordea Investment Management AB now owns 673,476 shares of the electronics maker’s stock worth $23,775,000 after buying an additional 79,515 shares during the last quarter. 70.83% of the stock is owned by hedge funds and other institutional investors.

In other Corning news, SVP Lewis A. Steverson sold 12,577 shares of Corning stock in a transaction on Monday, November 26th. The shares were sold at an average price of $31.47, for a total value of $395,798.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Deborah Rieman sold 4,430 shares of Corning stock in a transaction on Friday, November 16th. The shares were sold at an average price of $32.30, for a total transaction of $143,089.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,975 shares of company stock valued at $2,622,698. Insiders own 0.46% of the company’s stock.

GLW traded down $1.00 during midday trading on Thursday, hitting $31.15. The company had a trading volume of 101,286 shares, compared to its average volume of 4,965,922. Corning Incorporated has a 52 week low of $26.11 and a 52 week high of $36.56. The company has a current ratio of 2.13, a quick ratio of 1.51 and a debt-to-equity ratio of 0.43. The company has a market cap of $25.73 billion, a P/E ratio of 18.09, a price-to-earnings-growth ratio of 2.07 and a beta of 1.29.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, October 23rd. The electronics maker reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.03. Corning had a negative net margin of 5.86% and a positive return on equity of 13.22%. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same period in the previous year, the firm posted $0.40 earnings per share. The business’s revenue was up 15.4% compared to the same quarter last year. On average, research analysts forecast that Corning Incorporated will post 1.77 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 16th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.31%. The ex-dividend date is Thursday, November 15th. Corning’s dividend payout ratio (DPR) is currently 41.86%.

A number of equities analysts recently weighed in on GLW shares. Citigroup raised shares of Corning from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $32.50 to $40.00 in a research note on Friday, September 14th. ValuEngine downgraded shares of Corning from a “buy” rating to a “hold” rating in a research note on Monday, November 12th. Zacks Investment Research downgraded shares of Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, November 20th. Guggenheim reissued a “buy” rating and set a $41.00 target price on shares of Corning in a research note on Tuesday, October 23rd. Finally, Argus lifted their target price on shares of Corning from $36.00 to $42.00 and gave the stock a “positive” rating in a research note on Thursday, September 20th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Corning has an average rating of “Buy” and a consensus price target of $36.11.

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About Corning

Corning, Inc develops and manufactures specialty glass and ceramics. The company provides glass for notebook computers, flat panel desktop monitors, LCD televisions, and other information display applications; optical fiber and cable and hardware and equipment products for the telecommunications industry; ceramic substrates for gasoline and diesel engines in automotive and heavy duty vehicle markets; laboratory products for the scientific community and specialized polymer products for biotechnology applications; advanced optical materials for the semiconductor industry and the scientific community; and other technologies.

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Institutional Ownership by Quarter for Corning (NYSE:GLW)

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