Corning Incorporated (NYSE:GLW) Shares Bought by Rational Advisors LLC

Rational Advisors LLC increased its position in Corning Incorporated (NYSE:GLW) by 42.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,063 shares of the electronics maker’s stock after buying an additional 1,506 shares during the period. Rational Advisors LLC’s holdings in Corning were worth $241,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of GLW. FMR LLC lifted its stake in shares of Corning by 52.8% during the 3rd quarter. FMR LLC now owns 3,723,044 shares of the electronics maker’s stock worth $168,095,000 after purchasing an additional 1,285,836 shares during the period. State Street Corp increased its stake in Corning by 3.8% in the third quarter. State Street Corp now owns 33,983,090 shares of the electronics maker’s stock valued at $1,534,337,000 after purchasing an additional 1,242,718 shares during the last quarter. Los Angeles Capital Management LLC lifted 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 period. Pathway Financial Advisers LLC boosted its stake in Corning by 4,306.9% in the 3rd 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. Finally, Conning Inc. grew its holdings in Corning by 14,556.8% in the 3rd quarter. Conning Inc. now owns 881,019 shares of the electronics maker’s stock valued at $39,778,000 after buying an additional 875,008 shares during the period. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Insider Buying and Selling at Corning

In related news, SVP John P. Bayne, Jr. sold 8,876 shares of Corning stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $49.09, for a total value of $435,722.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael Alan Bell sold 2,209 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $49.87, for a total value of $110,162.83. The disclosure for this sale can be found here. Insiders sold a total of 46,085 shares of company stock worth $2,345,436 in the last 90 days. 0.40% of the stock is owned by corporate insiders.

Corning Stock Up 0.9 %

Shares of NYSE:GLW opened at $52.58 on Monday. The company has a market capitalization of $45.02 billion, a price-to-earnings ratio of 90.66, a price-to-earnings-growth ratio of 1.55 and a beta of 1.03. The company has a 50 day moving average of $49.52 and a two-hundred day moving average of $46.26. Corning Incorporated has a 52-week low of $30.72 and a 52-week high of $55.33. The company has a quick ratio of 1.07, a current ratio of 1.62 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last released its quarterly earnings results on Wednesday, January 29th. The electronics maker reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.01. Corning had a net margin of 3.86% and a return on equity of 15.10%. As a group, analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Friday, February 28th. Corning’s dividend payout ratio is currently 193.11%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on GLW shares. Hsbc Global Res upgraded shares of Corning from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Corning from $49.00 to $54.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Barclays cut their target price on Corning from $53.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. UBS Group boosted their price target on Corning from $46.00 to $51.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, StockNews.com upgraded Corning from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $53.00.

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.