Corning Incorporated (NYSE:GLW) Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP lifted its holdings in Corning Incorporated (NYSE:GLW) by 114.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 164,858 shares of the electronics maker’s stock after acquiring an additional 88,019 shares during the period. Quantinno Capital Management LP’s holdings in Corning were worth $7,834,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in GLW. Barclays PLC increased its position in shares of Corning by 8.5% in the third quarter. Barclays PLC now owns 1,892,946 shares of the electronics maker’s stock worth $85,468,000 after acquiring an additional 148,042 shares in the last quarter. Capital Investment Advisors LLC grew its holdings in Corning by 15.6% during the 4th quarter. Capital Investment Advisors LLC now owns 7,587 shares of the electronics maker’s stock valued at $361,000 after purchasing an additional 1,022 shares in the last quarter. Wedmont Private Capital acquired a new stake in Corning during the 4th quarter valued at $210,000. Rosenberg Matthew Hamilton grew its holdings in Corning by 202.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 747 shares of the electronics maker’s stock valued at $35,000 after purchasing an additional 500 shares in the last quarter. Finally, SeaCrest Wealth Management LLC grew its holdings in Corning by 53.8% during the 4th quarter. SeaCrest Wealth Management LLC now owns 11,871 shares of the electronics maker’s stock valued at $564,000 after purchasing an additional 4,154 shares in the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. StockNews.com lowered shares of Corning from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. HSBC raised shares of Corning from a “hold” rating to a “buy” rating and raised their price target for the company from $51.00 to $60.00 in a report on Thursday, January 30th. Citigroup lowered their price target on shares of Corning from $58.00 to $50.00 and set a “buy” rating for the company in a report on Monday, April 14th. Hsbc Global Res raised shares of Corning from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 30th. Finally, Mizuho set a $52.00 price target on shares of Corning in a report on Tuesday, April 15th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Corning has a consensus rating of “Moderate Buy” and an average target price of $53.08.

Insider Activity

In other news, VP John Z. Zhang sold 8,000 shares of Corning stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $46.91, for a total value of $375,280.00. Following the completion of the transaction, the vice president now directly owns 9,610 shares of the company’s stock, valued at approximately $450,805.10. The trade was a 45.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Michael Alan Bell sold 20,262 shares of Corning stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $44.06, for a total transaction of $892,743.72. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.

Corning Price Performance

Shares of GLW stock opened at $47.56 on Friday. The firm has a market cap of $40.73 billion, a P/E ratio of 82.00, a P/E/G ratio of 1.50 and a beta of 1.09. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.62 and a quick ratio of 1.07. Corning Incorporated has a 1-year low of $35.01 and a 1-year high of $55.33. The firm has a fifty day moving average of $44.53 and a two-hundred day moving average of $47.50.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, April 29th. The electronics maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.51 by $0.03. Corning had a net margin of 3.86% and a return on equity of 15.10%. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.63 billion. During the same period in the previous year, the business posted $0.38 EPS. The company’s quarterly revenue was up 12.9% on a year-over-year basis. As a group, research analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, May 30th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.35%. The ex-dividend date is Friday, May 30th. Corning’s dividend payout ratio (DPR) is presently 215.38%.

Corning Profile

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.