Dana Investment Advisors Inc. acquired a new position in Corning Incorporated (NYSE:GLW) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 697,421 shares of the electronics maker’s stock, valued at approximately $20,958,000. Dana Investment Advisors Inc. owned about 0.08% of Corning at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. GLG Partners LP acquired a new stake in Corning during the 2nd quarter worth $102,000. Jacobus Wealth Management Inc. acquired a new stake in Corning during the 1st quarter worth $108,000. Central Bank & Trust Co. grew its holdings in Corning by 8.8% during the 2nd quarter. Central Bank & Trust Co. now owns 4,264 shares of the electronics maker’s stock worth $128,000 after acquiring an additional 345 shares during the period. Harfst & Associates Inc. grew its holdings in Corning by 44.7% during the 2nd quarter. Harfst & Associates Inc. now owns 4,791 shares of the electronics maker’s stock worth $143,000 after acquiring an additional 1,481 shares during the period. Finally, Grove Bank & Trust grew its holdings in Corning by 31.7% during the 2nd quarter. Grove Bank & Trust now owns 5,255 shares of the electronics maker’s stock worth $158,000 after acquiring an additional 1,265 shares during the period. Hedge funds and other institutional investors own 71.30% of the company’s stock.

In other news, Vice Chairman Lawrence D. Mcrae sold 48,125 shares of the stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $28.61, for a total transaction of $1,376,856.25. Following the completion of the sale, the insider now directly owns 136,079 shares in the company, valued at $3,893,220.19. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Christine M. Pambianchi sold 33,000 shares of the stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $28.56, for a total transaction of $942,480.00. Following the sale, the vice president now owns 73,145 shares of the company’s stock, valued at $2,089,021.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 127,888 shares of company stock valued at $3,653,485. 0.59% of the stock is currently owned by corporate insiders.

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Shares of Corning Incorporated (NYSE GLW) traded up 0.213% during trading on Thursday, hitting $30.535. 1,897,041 shares of the stock traded hands. The firm has a market capitalization of $27.58 billion, a price-to-earnings ratio of 13.638 and a beta of 1.38. Corning Incorporated has a 1-year low of $22.23 and a 1-year high of $32.17. The firm has a 50-day moving average of $29.17 and a 200-day moving average of $29.07.

Corning (NYSE:GLW) last posted its quarterly earnings data on Wednesday, July 26th. The electronics maker reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.02. Corning had a net margin of 24.16% and a return on equity of 11.67%. The company had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the prior year, the company posted $0.37 earnings per share. Corning’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities analysts forecast that Corning Incorporated will post $1.70 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Thursday, August 31st were given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 2.03%. The ex-dividend date was Tuesday, August 29th. Corning’s dividend payout ratio (DPR) is presently 27.93%.

A number of research firms have commented on GLW. Morgan Stanley reaffirmed an “equal weight” rating and set a $29.00 target price (up previously from $26.00) on shares of Corning in a report on Monday, June 19th. BidaskClub lowered shares of Corning from a “buy” rating to a “hold” rating in a report on Saturday, August 19th. Jefferies Group LLC reaffirmed a “hold” rating and set a $27.50 target price on shares of Corning in a report on Friday, July 14th. Susquehanna Bancshares Inc reaffirmed a “positive” rating on shares of Corning in a report on Thursday, July 13th. Finally, Goldman Sachs Group, Inc. (The) lowered shares of Corning from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $29.00 to $26.00 in a report on Tuesday, August 15th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Corning currently has a consensus rating of “Hold” and a consensus price target of $28.90.

Corning Profile

Corning Incorporated is engaged in manufacturing specialty glass and ceramics. Its segments include Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, Life Sciences and All Other. The Display Technologies segment manufactures glass substrates for flat panel liquid crystal displays (LCDs).

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Institutional Ownership by Quarter for Corning (NYSE:GLW)

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