Stephens Inc. AR grew its position in Corning Incorporated (NYSE:GLW) by 3.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 72,922 shares of the electronics maker’s stock after buying an additional 2,601 shares during the period. Stephens Inc. AR’s holdings in Corning were worth $2,191,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in GLW. BlackRock Inc. boosted its holdings in shares of Corning by 1,930.0% in the 1st quarter. BlackRock Inc. now owns 56,841,179 shares of the electronics maker’s stock valued at $1,534,712,000 after buying an additional 54,041,176 shares in the last quarter. Janus Capital Management LLC boosted its holdings in shares of Corning by 60.3% in the 1st quarter. Janus Capital Management LLC now owns 5,657,868 shares of the electronics maker’s stock valued at $152,763,000 after buying an additional 2,127,260 shares in the last quarter. Gotham Asset Management LLC boosted its holdings in shares of Corning by 17,844.0% in the 1st quarter. Gotham Asset Management LLC now owns 1,717,781 shares of the electronics maker’s stock valued at $46,380,000 after buying an additional 1,708,208 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Corning by 127.9% in the 1st quarter. SG Americas Securities LLC now owns 329,209 shares of the electronics maker’s stock valued at $8,889,000 after buying an additional 1,510,245 shares in the last quarter. Finally, CIBC World Markets Inc. boosted its holdings in shares of Corning by 575.1% in the 1st quarter. CIBC World Markets Inc. now owns 1,711,673 shares of the electronics maker’s stock valued at $46,215,000 after buying an additional 1,458,114 shares in the last quarter. Institutional investors and hedge funds own 71.30% of the company’s stock.

Shares of Corning Incorporated (GLW) opened at 30.03 on Thursday. The stock has a market cap of $27.12 billion, a price-to-earnings ratio of 13.41 and a beta of 1.40. The company has a 50-day moving average of $28.89 and a 200 day moving average of $28.87. Corning Incorporated has a one year low of $22.23 and a one year high of $32.17.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, August 31st will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 2.06%. The ex-dividend date is Tuesday, August 29th. Corning’s payout ratio is 27.93%.

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In other Corning news, 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 value of $942,480.00. Following the completion of the transaction, the vice president now owns 73,145 shares in the company, valued at $2,089,021.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Clark S. Kinlin sold 46,763 shares of the stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $28.53, for a total value of $1,334,148.39. Following the completion of the transaction, the insider now owns 72,039 shares of the company’s stock, valued at approximately $2,055,272.67. The disclosure for this sale can be found here. Insiders sold 127,888 shares of company stock valued at $3,653,485 in the last quarter. 0.59% of the stock is currently owned by company insiders.

A number of analysts have recently weighed in on the stock. Drexel Hamilton restated a “sell” rating and issued a $17.50 price target on shares of Corning in a report on Wednesday, July 26th. Jefferies Group LLC restated a “hold” rating and issued a $27.50 price target on shares of Corning in a report on Friday, July 14th. Susquehanna Bancshares Inc restated a “positive” rating on shares of Corning in a report on Thursday, July 13th. Vetr upgraded shares of Corning from a “sell” rating to a “buy” rating and set a $33.69 price target on the stock in a report on Wednesday, June 28th. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Corning in a report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Corning has a consensus rating of “Hold” and a consensus target price of $28.21.

About Corning

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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