Capital Advisors Inc. OK Raises Holdings in Corning Incorporated (NYSE:GLW)

Capital Advisors Inc. OK boosted its holdings in Corning Incorporated (NYSE:GLW - Free Report) by 4.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 753,241 shares of the electronics maker's stock after acquiring an additional 30,740 shares during the quarter. Capital Advisors Inc. OK owned 0.09% of Corning worth $34,483,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GLW. Norges Bank bought a new position in Corning in the 4th quarter valued at approximately $490,933,000. Polar Capital Holdings Plc bought a new position in shares of Corning during the 4th quarter valued at $124,253,000. Amundi lifted its holdings in shares of Corning by 139.0% during the 4th quarter. Amundi now owns 3,900,808 shares of the electronics maker's stock valued at $186,186,000 after buying an additional 2,268,436 shares during the period. Mariner LLC lifted its holdings in shares of Corning by 134.0% during the 4th quarter. Mariner LLC now owns 3,869,358 shares of the electronics maker's stock valued at $183,867,000 after buying an additional 2,215,840 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Corning during the 4th quarter valued at $92,522,000. 69.80% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Corning news, SVP Stefan Becker sold 17,106 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $49.68, for a total value of $849,826.08. Following the completion of the sale, the senior vice president owned 16,117 shares in the company, valued at approximately $800,692.56. This represents a 51.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP John Z. Zhang sold 8,000 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $46.91, for a total value of $375,280.00. Following the completion of the sale, the vice president owned 9,610 shares of the company's stock, valued at $450,805.10. The trade was a 45.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 75,796 shares of company stock worth $3,632,635 in the last three months. 0.40% of the stock is owned by company insiders.

Corning Stock Performance

Corning stock traded down $0.12 during trading on Wednesday, reaching $52.61. The company had a trading volume of 3,088,070 shares, compared to its average volume of 5,433,589. Corning Incorporated has a 52 week low of $37.18 and a 52 week high of $55.33. The firm's 50-day simple moving average is $49.60 and its 200 day simple moving average is $48.20. The firm has a market capitalization of $45.06 billion, a price-to-earnings ratio of 101.17, a price-to-earnings-growth ratio of 1.42 and a beta of 1.11. The company has a current ratio of 1.69, a quick ratio of 1.05 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW - Get Free Report) last announced its earnings results on Tuesday, April 29th. The electronics maker reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. Corning had a return on equity of 16.47% and a net margin of 3.34%. The company had revenue of $3.68 billion for the quarter, compared to analysts' expectations of $3.63 billion. During the same period last year, the firm earned $0.38 EPS. Corning's revenue for the quarter was up 12.9% compared to the same quarter last year. Sell-side analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be paid a $0.28 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.12 dividend on an annualized basis and a yield of 2.13%. Corning's payout ratio is presently 215.38%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Bank of America increased their price target on Corning from $65.00 to $68.00 and gave the company a "buy" rating in a report on Wednesday, March 19th. UBS Group increased their price target on Corning from $54.00 to $57.00 and gave the company a "neutral" rating in a report on Wednesday. Morgan Stanley increased their price target on Corning from $44.00 to $50.00 and gave the company an "equal weight" rating in a report on Tuesday. Oppenheimer lowered their price target on Corning from $58.00 to $55.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Finally, Wolfe Research assumed coverage on Corning in a report on Tuesday. They set an "outperform" rating on the stock. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Corning has an average rating of "Moderate Buy" and an average price target of $54.42.

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.