Blair William & Co. IL Buys 3,207 Shares of Corning Incorporated (NYSE:GLW)

Blair William & Co. IL boosted its stake in shares of Corning Incorporated (NYSE:GLW) by 1.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 223,289 shares of the electronics maker’s stock after purchasing an additional 3,207 shares during the quarter. Blair William & Co. IL’s holdings in Corning were worth $8,675,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cape Investment Advisory Inc. lifted its stake in shares of Corning by 800.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 900 shares of the electronics maker’s stock valued at $27,000 after buying an additional 800 shares during the period. Access Investment Management LLC acquired a new position in Corning in the 1st quarter valued at approximately $28,000. EverSource Wealth Advisors LLC lifted its position in shares of Corning by 347.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,060 shares of the electronics maker’s stock worth $32,000 after acquiring an additional 823 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in shares of Corning during the 1st quarter worth approximately $33,000. Finally, Register Financial Advisors LLC bought a new stake in shares of Corning during the first quarter valued at approximately $33,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Stock Performance

Shares of NYSE:GLW opened at $44.50 on Friday. The business has a fifty day moving average of $41.73 and a 200-day moving average of $37.51. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.98 and a current ratio of 1.57. Corning Incorporated has a twelve month low of $25.26 and a twelve month high of $46.39. The firm has a market cap of $38.08 billion, a PE ratio of 62.68, a price-to-earnings-growth ratio of 1.66 and a beta of 1.04.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, July 30th. The electronics maker reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. Corning had a net margin of 3.53% and a return on equity of 12.69%. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.55 billion. During the same period in the previous year, the firm posted $0.45 earnings per share. The company’s revenue was up 3.5% on a year-over-year basis. On average, equities research analysts predict that Corning Incorporated will post 1.91 EPS for the current fiscal year.

Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be given a $0.28 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.12 dividend on an annualized basis and a yield of 2.52%. Corning’s payout ratio is 157.75%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GLW. Deutsche Bank Aktiengesellschaft raised Corning from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a research report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their target price on shares of Corning from $47.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. UBS Group increased their price target on shares of Corning from $38.00 to $44.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 9th. Fox Advisors raised Corning from an “equal weight” rating to an “overweight” rating and set a $45.00 price objective on the stock in a report on Monday, June 17th. Finally, Hsbc Global Res upgraded Corning from a “moderate sell” rating to a “hold” rating in a research note on Tuesday, July 9th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $47.00.

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.