J. W. Coons Advisors LLC Has $2.21 Million Position in Corning Incorporated (NYSE:GLW)

J. W. Coons Advisors LLC lessened its holdings in shares of Corning Incorporated (NYSE:GLWFree Report) by 2.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 72,550 shares of the electronics maker’s stock after selling 1,800 shares during the period. J. W. Coons Advisors LLC’s holdings in Corning were worth $2,209,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in GLW. Charles Schwab Investment Management Inc. boosted its position in shares of Corning by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,482,734 shares of the electronics maker’s stock valued at $136,589,000 after acquiring an additional 54,244 shares during the period. Van ECK Associates Corp grew its position in Corning by 87.8% in the 3rd quarter. Van ECK Associates Corp now owns 96,254 shares of the electronics maker’s stock worth $2,933,000 after purchasing an additional 45,001 shares during the last quarter. Pathstone Family Office LLC lifted its stake in shares of Corning by 63.4% in the third quarter. Pathstone Family Office LLC now owns 87,484 shares of the electronics maker’s stock valued at $2,666,000 after buying an additional 33,945 shares during the period. HighTower Advisors LLC lifted its stake in shares of Corning by 42.6% in the third quarter. HighTower Advisors LLC now owns 568,710 shares of the electronics maker’s stock valued at $17,315,000 after buying an additional 169,966 shares during the period. Finally, Canada Pension Plan Investment Board grew its position in Corning by 352,000.0% during the third quarter. Canada Pension Plan Investment Board now owns 35,210 shares of the electronics maker’s stock worth $1,073,000 after buying an additional 35,200 shares in the last quarter. Institutional investors own 69.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Morgan Stanley reiterated an “overweight” rating and issued a $35.00 price objective on shares of Corning in a research report on Monday, April 22nd. StockNews.com upgraded shares of Corning from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. Mizuho started coverage on shares of Corning in a report on Tuesday, May 7th. They issued a “neutral” rating and a $36.00 price target on the stock. Susquehanna reaffirmed a “positive” rating and set a $40.00 price objective on shares of Corning in a report on Monday, April 1st. Finally, UBS Group upped their target price on shares of Corning from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $35.90.

Check Out Our Latest Report on Corning

Corning Price Performance

NYSE:GLW opened at $36.93 on Friday. The firm has a market cap of $31.63 billion, a PE ratio of 52.01, a price-to-earnings-growth ratio of 1.70 and a beta of 1.08. The company’s 50-day moving average price is $33.90 and its two-hundred day moving average price is $32.04. The company has a quick ratio of 1.02, a current ratio of 1.67 and a debt-to-equity ratio of 0.61. Corning Incorporated has a 12 month low of $25.26 and a 12 month high of $37.52.

Corning (NYSE:GLWGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The electronics maker reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Corning had a return on equity of 12.31% and a net margin of 4.96%. The business had revenue of $2.98 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same period in the prior year, the company earned $0.41 EPS. Corning’s revenue for the quarter was down 11.5% on a year-over-year basis. On average, equities analysts anticipate that Corning Incorporated will post 1.9 EPS for the current fiscal year.

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, May 31st will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.03%. Corning’s dividend payout ratio (DPR) is presently 157.75%.

Insider Activity at Corning

In other Corning news, VP Jeffrey W. Evenson sold 12,830 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $37.39, for a total value of $479,713.70. Following the completion of the sale, the vice president now owns 57,280 shares in the company, valued at approximately $2,141,699.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Corning news, VP Jeffrey W. Evenson sold 12,830 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $37.39, for a total value of $479,713.70. Following the transaction, the vice president now directly owns 57,280 shares in the company, valued at approximately $2,141,699.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Martin J. Curran sold 16,416 shares of Corning stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $33.70, for a total value of $553,219.20. Following the completion of the sale, the vice president now directly owns 65,598 shares of the company’s stock, valued at $2,210,652.60. The disclosure for this sale can be found here. Insiders sold 252,671 shares of company stock valued at $8,450,971 over the last ninety days. 0.40% of the stock is owned by insiders.

Corning Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Corning (NYSE:GLW)

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