Linden Thomas Advisory Services LLC Grows Position in Corning Incorporated (NYSE:GLW)

Linden Thomas Advisory Services LLC raised its position in Corning Incorporated (NYSE:GLW) by 2.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 41,496 shares of the electronics maker’s stock after buying an additional 1,168 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Corning were worth $1,264,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Natixis Advisors L.P. grew its stake in shares of Corning by 5.9% in the third quarter. Natixis Advisors L.P. now owns 101,322 shares of the electronics maker’s stock valued at $3,087,000 after buying an additional 5,616 shares in the last quarter. KMG Fiduciary Partners LLC purchased a new stake in shares of Corning during the 4th quarter valued at about $1,199,000. HB Wealth Management LLC raised its holdings in shares of Corning by 24.2% during the 4th quarter. HB Wealth Management LLC now owns 9,871 shares of the electronics maker’s stock valued at $301,000 after buying an additional 1,926 shares during the period. SG Americas Securities LLC raised its holdings in shares of Corning by 59.8% during the 4th quarter. SG Americas Securities LLC now owns 108,358 shares of the electronics maker’s stock valued at $3,300,000 after buying an additional 40,564 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Corning by 6.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 7,883,126 shares of the electronics maker’s stock valued at $240,199,000 after buying an additional 490,638 shares during the period. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Barclays raised their target price on Corning from $28.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday, January 31st. JPMorgan Chase & Co. raised their target price on Corning from $34.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. UBS Group lifted their price objective on Corning from $34.00 to $35.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Susquehanna restated a “positive” rating and set a $40.00 price objective on shares of Corning in a report on Monday, April 1st. Finally, StockNews.com upgraded Corning from a “sell” rating to a “hold” rating in a report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Corning presently has an average rating of “Hold” and a consensus target price of $34.78.

Insider Transactions at Corning

In other news, Vice Chairman Lawrence D. Mcrae sold 77,464 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $33.24, for a total transaction of $2,574,903.36. Following the sale, the insider now directly owns 215,254 shares of the company’s stock, valued at $7,155,042.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.40% of the stock is owned by insiders.

Corning Trading Down 0.0 %

Shares of Corning stock opened at $31.52 on Thursday. The company has a quick ratio of 1.05, a current ratio of 1.67 and a debt-to-equity ratio of 0.61. The firm has a market cap of $26.96 billion, a price-to-earnings ratio of 47.04, a price-to-earnings-growth ratio of 1.75 and a beta of 1.08. The business has a fifty day simple moving average of $32.30 and a 200-day simple moving average of $30.43. Corning Incorporated has a fifty-two week low of $25.26 and a fifty-two week high of $36.01.

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

Corning Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 29th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend was Wednesday, February 28th. Corning’s dividend payout ratio (DPR) is presently 167.16%.

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.