J.W. Cole Advisors Inc. lessened its holdings in shares of Corning Incorporated (NYSE:GLW – Free Report) by 46.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 5,532 shares of the electronics maker’s stock after selling 4,709 shares during the period. J.W. Cole Advisors Inc.’s holdings in Corning were worth $215,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in GLW. Bridgefront Capital LLC acquired a new position in shares of Corning during the fourth quarter valued at about $813,000. Wahed Invest LLC grew its holdings in shares of Corning by 8.6% during the 4th quarter. Wahed Invest LLC now owns 12,982 shares of the electronics maker’s stock worth $395,000 after purchasing an additional 1,028 shares in the last quarter. Belpointe Asset Management LLC grew its holdings in shares of Corning by 26.4% during the 4th quarter. Belpointe Asset Management LLC now owns 8,322 shares of the electronics maker’s stock worth $253,000 after purchasing an additional 1,740 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its stake in shares of Corning by 75.5% in the first quarter. Massmutual Trust Co. FSB ADV now owns 56,777 shares of the electronics maker’s stock valued at $1,871,000 after purchasing an additional 24,421 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co lifted its position in Corning by 4.7% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 70,747 shares of the electronics maker’s stock worth $2,154,000 after purchasing an additional 3,152 shares during the period. Institutional investors own 69.80% of the company’s stock.
Corning Trading Up 2.3 %
Shares of NYSE GLW opened at $44.43 on Friday. Corning Incorporated has a 1-year low of $25.26 and a 1-year high of $46.39. The company has a current ratio of 1.57, a quick ratio of 0.98 and a debt-to-equity ratio of 0.63. The company has a 50-day moving average of $41.76 and a two-hundred day moving average of $37.43. The company has a market cap of $38.02 billion, a PE ratio of 62.58, a P/E/G ratio of 1.66 and a beta of 1.04.
Corning Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be given a dividend of $0.28 per share. 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 presently 157.75%.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on GLW shares. Hsbc Global Res raised shares of Corning from a “moderate sell” rating to a “hold” rating in a report on Tuesday, July 9th. Morgan Stanley reissued an “equal weight” rating and issued a $39.00 price target on shares of Corning in a research report on Friday, July 26th. Citigroup lifted their price objective on Corning from $45.00 to $51.00 and gave the company a “buy” rating in a report on Friday, July 12th. Argus increased their target price on Corning from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Finally, Fox Advisors raised Corning from an “equal weight” rating to an “overweight” rating and set a $45.00 price target on the stock in a research note on Monday, June 17th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $45.62.
Check Out Our Latest Stock Report on GLW
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.
Featured Articles
- Five stocks we like better than Corning
- What Is WallStreetBets and What Stocks Are They Targeting?
- Edgewise Therapeutics Soars 50%: Key Reasons Behind the Surge
- Following Congress Stock Trades
- How the Fed’s Rate Cut Could Supercharge These 3 ETFs
- What Does a Stock Split Mean?
- Microsoft Stock: 3 Reasons It’s Ready to Crush Q4
Receive News & Ratings for Corning Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corning and related companies with MarketBeat.com's FREE daily email newsletter.