Blair William & Co. IL Has $13.89 Million Holdings in Corning Incorporated (NYSE:GLW)

Blair William & Co. IL grew its stake in Corning Incorporated (NYSE:GLW - Free Report) by 15.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 303,417 shares of the electronics maker's stock after buying an additional 40,904 shares during the period. Blair William & Co. IL's holdings in Corning were worth $13,890,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Northern Trust Corp lifted its position in shares of Corning by 2.0% in the fourth quarter. Northern Trust Corp now owns 10,870,375 shares of the electronics maker's stock worth $516,560,000 after buying an additional 208,826 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Corning by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,800,573 shares of the electronics maker's stock valued at $465,723,000 after purchasing an additional 78,497 shares during the period. Bank of New York Mellon Corp boosted its stake in Corning by 1.3% during the 1st quarter. Bank of New York Mellon Corp now owns 6,347,977 shares of the electronics maker's stock valued at $290,610,000 after purchasing an additional 80,872 shares during the period. Invesco Ltd. boosted its stake in Corning by 5.1% during the 4th quarter. Invesco Ltd. now owns 6,048,735 shares of the electronics maker's stock valued at $287,436,000 after purchasing an additional 293,713 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Corning by 6.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,285,990 shares of the electronics maker's stock valued at $251,190,000 after purchasing an additional 303,607 shares during the period. Institutional investors and hedge funds own 69.80% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on GLW. Morgan Stanley set a $56.00 target price on Corning and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Citigroup increased their target price on Corning from $52.00 to $60.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Wall Street Zen upgraded Corning from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Mizuho increased their target price on Corning from $52.00 to $59.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Finally, Susquehanna restated a "positive" rating and set a $75.00 price target (up from $60.00) on shares of Corning in a research note on Wednesday, July 30th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Corning has a consensus rating of "Moderate Buy" and a consensus target price of $63.25.

Corning Trading Up 2.2%

GLW stock opened at $63.44 on Tuesday. Corning Incorporated has a 1-year low of $37.18 and a 1-year high of $63.91. The firm has a market cap of $54.33 billion, a P/E ratio of 67.49, a P/E/G ratio of 1.59 and a beta of 1.08. The business's 50 day moving average is $53.03 and its 200-day moving average is $49.28. The company has a current ratio of 1.50, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58.

Corning (NYSE:GLW - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. Corning had a return on equity of 17.27% and a net margin of 5.77%. The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.84 billion. During the same period in the prior year, the company posted $0.47 EPS. Equities analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, August 29th. Corning's dividend payout ratio is currently 119.15%.

Insider Buying and Selling

In related news, CFO Edward A. Schlesinger sold 14,082 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $62.28, for a total transaction of $877,026.96. Following the sale, the chief financial officer directly owned 78,316 shares in the company, valued at $4,877,520.48. This represents a 15.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Avery H. Nelson III sold 36,240 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $62.26, for a total value of $2,256,302.40. Following the sale, the chief operating officer owned 64,838 shares in the company, valued at approximately $4,036,813.88. This trade represents a 35.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 137,381 shares of company stock worth $7,836,789. Insiders own 0.32% of the company's stock.

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.

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