Corning Incorporated (NYSE:GLW) is John G Ullman & Associates Inc.’s 2nd Largest Position

John G Ullman & Associates Inc. raised its holdings in shares of Corning Incorporated (NYSE:GLW) by 2.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 744,708 shares of the electronics maker’s stock after buying an additional 14,758 shares during the quarter. Corning comprises about 3.6% of John G Ullman & Associates Inc.’s holdings, making the stock its 2nd largest position. John G Ullman & Associates Inc. owned 0.09% of Corning worth $22,676,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Corning by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 92,746,889 shares of the electronics maker’s stock worth $3,423,287,000 after purchasing an additional 671,480 shares in the last quarter. State Street Corp boosted its holdings in shares of Corning by 2.2% in the 1st quarter. State Street Corp now owns 31,601,045 shares of the electronics maker’s stock worth $1,114,880,000 after purchasing an additional 686,278 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Corning by 7.7% in the 3rd quarter. Wellington Management Group LLP now owns 28,714,901 shares of the electronics maker’s stock worth $874,943,000 after purchasing an additional 2,055,388 shares in the last quarter. Morgan Stanley lifted its stake in shares of Corning by 5.1% in the 3rd quarter. Morgan Stanley now owns 21,899,529 shares of the electronics maker’s stock valued at $667,279,000 after acquiring an additional 1,060,450 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of Corning by 15.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 17,615,078 shares of the electronics maker’s stock valued at $536,114,000 after acquiring an additional 2,301,745 shares during the last quarter. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Corning Stock Up 1.0 %

Shares of NYSE:GLW traded up $0.30 during trading on Friday, hitting $31.21. The stock had a trading volume of 2,235,562 shares, compared to its average volume of 4,720,717. Corning Incorporated has a 12 month low of $25.26 and a 12 month high of $36.01. The company has a market capitalization of $26.70 billion, a PE ratio of 46.10, a PEG ratio of 1.71 and a beta of 1.08. The firm’s fifty day moving average is $32.33 and its 200 day moving average is $30.38. The company has a quick ratio of 1.05, a current ratio of 1.67 and a debt-to-equity ratio of 0.61.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, January 30th. The electronics maker reported $0.39 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.39. Corning had a return on equity of 12.31% and a net margin of 4.62%. The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same quarter in the prior year, the company earned $0.47 EPS. The business’s revenue was down 12.1% compared to the same quarter last year. Analysts anticipate that Corning Incorporated will post 1.87 EPS for the current fiscal year.

Corning Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 29th were paid a $0.28 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $1.12 annualized dividend and a dividend yield of 3.59%. Corning’s payout ratio is currently 167.16%.

Wall Street Analyst Weigh In

GLW has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on Corning from $34.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Susquehanna reissued a “positive” rating and issued a $40.00 target price on shares of Corning in a research note on Monday, April 1st. UBS Group boosted their target price on Corning from $34.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. StockNews.com raised Corning from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. Finally, HSBC lowered Corning from a “hold” rating to a “reduce” rating and set a $29.00 price target for the company. in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Corning presently has a consensus rating of “Hold” and an average target price of $34.56.

Insider Buying and Selling

In related news, Vice Chairman Lawrence D. Mcrae sold 77,464 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $33.24, for a total value of $2,574,903.36. Following the sale, the insider now owns 215,254 shares in the company, valued at approximately $7,155,042.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.40% of the stock is currently owned by company insiders.

About Corning

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.