4,719 Shares in Corning Incorporated (NYSE:GLW) Purchased by Atlanta Consulting Group Advisors LLC

Atlanta Consulting Group Advisors LLC acquired a new position in Corning Incorporated (NYSE:GLW) during the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 4,719 shares of the electronics maker’s stock, valued at approximately $213,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. City Holding Co. boosted its position in shares of Corning by 545.5% in the 3rd quarter. City Holding Co. now owns 710 shares of the electronics maker’s stock worth $32,000 after buying an additional 600 shares in the last quarter. Accordant Advisory Group Inc purchased a new stake in shares of Corning in the 2nd quarter worth about $39,000. Cassady Schiller Wealth Management LLC purchased a new position in Corning in the 3rd quarter valued at about $39,000. Global Trust Asset Management LLC lifted its holdings in Corning by 2,250.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 940 shares of the electronics maker’s stock valued at $42,000 after purchasing an additional 900 shares in the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new position in Corning in the 3rd quarter valued at about $45,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GLW has been the topic of a number of recent research reports. Oppenheimer restated an “outperform” rating and issued a $58.00 target price (up from $51.00) on shares of Corning in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Corning from $49.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Mizuho upgraded shares of 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. Morgan Stanley restated an “equal weight” rating and issued a $39.00 target price on shares of Corning in a report on Friday, July 26th. Finally, Barclays upped their price objective on shares of Corning from $40.00 to $53.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $50.08.

Corning Stock Down 1.2 %

GLW opened at $46.49 on Monday. The firm has a 50 day moving average price of $45.74 and a 200 day moving average price of $41.59. The company has a market cap of $39.81 billion, a PE ratio of 273.47, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. Corning Incorporated has a 1 year low of $27.57 and a 1 year high of $51.03. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.05 and a current ratio of 1.66.

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

Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Friday, November 15th. Corning’s dividend payout ratio is presently 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.