Insight Inv LLC Has $1.65 Million Stock Position in Corning Incorporated (NYSE:GLW)

Insight Inv LLC lowered its holdings in shares of Corning Incorporated (NYSE:GLW) by 5.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,375 shares of the electronics maker’s stock after selling 2,250 shares during the quarter. Insight Inv LLC’s holdings in Corning were worth $1,646,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Access Investment Management LLC bought a new position in Corning during the first quarter valued at about $28,000. Cape Investment Advisory Inc. boosted its stake in shares of Corning by 800.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 900 shares of the electronics maker’s stock worth $27,000 after acquiring an additional 800 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of Corning during the 1st quarter valued at about $33,000. Register Financial Advisors LLC bought a new position in shares of Corning in the 1st quarter valued at approximately $33,000. Finally, ESL Trust Services LLC acquired a new stake in Corning in the 1st quarter worth approximately $33,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on GLW shares. Deutsche Bank Aktiengesellschaft upgraded Corning from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a report on Wednesday, July 31st. UBS Group raised their target price on shares of Corning from $38.00 to $44.00 and gave the company a “neutral” rating in a research note on Tuesday, July 9th. Bank of America cut their target price on shares of Corning from $47.00 to $46.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. JPMorgan Chase & Co. raised their price target on Corning from $47.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Finally, Hsbc Global Res upgraded Corning from a “moderate sell” rating to a “hold” rating in a research note on Tuesday, July 9th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $45.62.

Corning Trading Up 0.8 %

Corning stock opened at $40.97 on Tuesday. Corning Incorporated has a 12 month low of $25.26 and a 12 month high of $46.39. The stock has a market cap of $35.06 billion, a price-to-earnings ratio of 57.70, a price-to-earnings-growth ratio of 1.57 and a beta of 1.04. The business has a 50 day moving average price of $41.57 and a two-hundred day moving average price of $36.92. The company has a quick ratio of 0.98, a current ratio of 1.57 and a debt-to-equity ratio of 0.63.

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

Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Friday, August 30th. Corning’s payout ratio is 157.75%.

Corning Company 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.