Corning Incorporated (NYSE:GLW) Position Boosted by Capital Advisors Inc. OK

Capital Advisors Inc. OK grew its holdings in shares of Corning Incorporated (NYSE:GLW) by 3.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 704,380 shares of the electronics maker’s stock after acquiring an additional 23,632 shares during the quarter. Capital Advisors Inc. OK owned about 0.08% of Corning worth $31,803,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its position in Corning by 35.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,200,828 shares of the electronics maker’s stock valued at $566,941,000 after buying an additional 4,464,893 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Corning by 4.3% during the second quarter. Dimensional Fund Advisors LP now owns 10,342,949 shares of the electronics maker’s stock valued at $401,826,000 after acquiring an additional 426,864 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Corning by 2.1% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,096,759 shares of the electronics maker’s stock worth $69,109,000 after purchasing an additional 42,832 shares in the last quarter. Natixis lifted its position in Corning by 2,405.2% in the first quarter. Natixis now owns 1,807,801 shares of the electronics maker’s stock worth $59,585,000 after purchasing an additional 1,735,638 shares during the period. Finally, Raymond James & Associates lifted its holdings in shares of Corning by 2.6% in the second quarter. Raymond James & Associates now owns 1,664,540 shares of the electronics maker’s stock valued at $64,667,000 after buying an additional 42,818 shares during the period. Institutional investors own 69.80% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on GLW shares. Deutsche Bank Aktiengesellschaft upped their price target on shares of Corning from $49.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday. Argus lifted their target price on Corning from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Mizuho raised Corning from a “neutral” rating to an “outperform” rating and upped their target price for the company from $44.00 to $47.00 in a report on Wednesday, August 21st. Barclays increased their price target on Corning from $40.00 to $53.00 and gave the company an “equal weight” rating in a research report on Tuesday. Finally, Oppenheimer restated an “outperform” rating and set a $58.00 price objective (up previously from $51.00) on shares of Corning in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.08.

Corning Trading Up 1.6 %

NYSE GLW opened at $48.36 on Friday. The company has a market capitalization of $41.38 billion, a PE ratio of 284.47, a price-to-earnings-growth ratio of 1.52 and a beta of 1.03. Corning Incorporated has a 1-year low of $26.71 and a 1-year high of $51.03. The company has a current ratio of 1.66, a quick ratio of 0.98 and a debt-to-equity ratio of 0.62. The firm’s fifty day simple moving average is $44.52 and its 200-day simple moving average is $40.33.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, October 29th. The electronics maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.53 by $0.01. The company had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.72 billion. Corning had a net margin of 1.24% and a return on equity of 13.45%. Corning’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.45 EPS. As a group, sell-side analysts anticipate that Corning Incorporated will post 1.95 earnings per share for the current fiscal year.

Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Friday, November 15th. Corning’s payout ratio is 658.82%.

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.