Corning Incorporated (NYSE:GLW) Stock Position Raised by Natixis Advisors LLC

Natixis Advisors LLC boosted its holdings in shares of Corning Incorporated (NYSE:GLW) by 10.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 287,153 shares of the electronics maker’s stock after acquiring an additional 26,364 shares during the quarter. Natixis Advisors LLC’s holdings in Corning were worth $12,965,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Corning by 35.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,200,828 shares of the electronics maker’s stock valued at $566,941,000 after buying an additional 4,464,893 shares during the last quarter. Los Angeles Capital Management LLC increased its position in Corning by 215.6% during the third quarter. Los Angeles Capital Management LLC now owns 1,677,513 shares of the electronics maker’s stock worth $75,740,000 after buying an additional 1,145,955 shares during the last quarter. Pathway Financial Advisers LLC lifted its position in shares of Corning by 4,306.9% in the third quarter. Pathway Financial Advisers LLC now owns 1,050,463 shares of the electronics maker’s stock worth $47,428,000 after buying an additional 1,026,626 shares during the last quarter. Shellback Capital LP acquired a new stake in shares of Corning in the second quarter worth about $34,483,000. Finally, Conning Inc. boosted its stake in shares of Corning by 14,556.8% during the 3rd quarter. Conning Inc. now owns 881,019 shares of the electronics maker’s stock worth $39,778,000 after acquiring an additional 875,008 shares in the last quarter. 69.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Mizuho upgraded shares of Corning from a “neutral” rating to an “outperform” rating and upped their price target for the company from $44.00 to $47.00 in a report on Wednesday, August 21st. Bank of America increased their target price on shares of Corning from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Barclays boosted their price target on Corning from $40.00 to $53.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Corning from $49.00 to $54.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Oppenheimer reissued an “outperform” rating and issued a $58.00 target price (up previously from $51.00) on shares of Corning in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $50.08.

Corning Price Performance

Corning stock opened at $47.35 on Thursday. The business’s 50-day simple moving average is $46.08 and its 200 day simple moving average is $41.81. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.62. The stock has a market cap of $40.54 billion, a price-to-earnings ratio of 278.53, a P/E/G ratio of 1.49 and a beta of 1.03. Corning Incorporated has a 12-month low of $27.57 and a 12-month high of $51.03.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, October 29th. The electronics maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. Corning had a net margin of 1.24% and a return on equity of 13.45%. The company had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the previous year, the company posted $0.45 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, research analysts anticipate that Corning Incorporated will post 1.95 earnings per share for the current year.

Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend is Friday, November 15th. Corning’s dividend payout ratio is currently 658.82%.

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.