UBS Group set a $36.00 price target on Corning (NYSE:GLW) in a research report released on Wednesday, www.stocktargetadvisor.com reports. The brokerage currently has a hold rating on the electronics maker’s stock.

GLW has been the topic of several other research reports. Zacks Investment Research cut shares of Corning from a buy rating to a hold rating in a research note on Tuesday. Morgan Stanley raised shares of Corning from an equal weight rating to an overweight rating in a research note on Thursday, May 31st. Argus boosted their price objective on shares of Corning from $36.00 to $42.00 and gave the stock a positive rating in a research note on Thursday, September 20th. TheStreet raised shares of Corning from a c+ rating to a b rating in a research note on Wednesday, July 25th. Finally, ValuEngine raised shares of Corning from a hold rating to a buy rating in a research note on Thursday, July 26th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $35.50.

Shares of Corning stock traded down $0.02 during trading on Wednesday, hitting $35.38. The company’s stock had a trading volume of 23,726 shares, compared to its average volume of 4,698,002. The company has a quick ratio of 1.58, a current ratio of 2.23 and a debt-to-equity ratio of 0.44. Corning has a 52 week low of $26.11 and a 52 week high of $36.56. The stock has a market cap of $28.76 billion, a price-to-earnings ratio of 20.59, a P/E/G ratio of 2.50 and a beta of 1.35.

Corning (NYSE:GLW) last issued its quarterly earnings data on Wednesday, July 25th. The electronics maker reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.01. Corning had a negative net margin of 8.32% and a positive return on equity of 12.03%. The company had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter in the previous year, the firm posted $0.42 earnings per share. Corning’s revenue for the quarter was up 10.0% on a year-over-year basis. equities analysts anticipate that Corning will post 1.73 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, August 31st will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, August 30th. This represents a $0.72 dividend on an annualized basis and a yield of 2.04%. Corning’s dividend payout ratio (DPR) is currently 41.86%.

In other Corning news, VP Christine M. Pambianchi sold 1,000 shares of the company’s stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $33.66, for a total transaction of $33,660.00. Following the sale, the vice president now owns 60,403 shares of the company’s stock, valued at $2,033,164.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Lawrence D. Mcrae sold 30,667 shares of the company’s stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $36.18, for a total transaction of $1,109,532.06. Following the sale, the insider now directly owns 146,049 shares in the company, valued at approximately $5,284,052.82. The disclosure for this sale can be found here. Insiders have sold 414,272 shares of company stock worth $13,759,300 in the last ninety days. Insiders own 0.46% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Institutional & Family Asset Management LLC bought a new position in shares of Corning during the 1st quarter worth about $101,000. Founders Capital Management bought a new position in shares of Corning during the 2nd quarter worth about $105,000. Private Capital Group LLC boosted its position in shares of Corning by 1,455.7% during the 1st quarter. Private Capital Group LLC now owns 3,936 shares of the electronics maker’s stock worth $110,000 after purchasing an additional 3,683 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Corning by 16,371.4% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 4,612 shares of the electronics maker’s stock worth $127,000 after purchasing an additional 4,584 shares in the last quarter. Finally, City Holding Co. bought a new position in shares of Corning during the 2nd quarter worth about $137,000. 70.32% of the stock is currently owned by institutional investors.

Corning Company Profile

Corning Incorporated manufactures and sells specialty glasses, ceramics, and related materials in North America, the Asia Pacific, Europe, and internationally. The company operates through five segments: Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, and Life Sciences.

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Analyst Recommendations for Corning (NYSE:GLW)

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