Corning Incorporated (NYSE:GLW) Shares Purchased by Fidelis Capital Partners LLC

Fidelis Capital Partners LLC lifted its stake in Corning Incorporated (NYSE:GLW - Free Report) by 91.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 15,583 shares of the electronics maker's stock after acquiring an additional 7,452 shares during the quarter. Fidelis Capital Partners LLC's holdings in Corning were worth $688,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. LMR Partners LLP lifted its holdings in Corning by 140.1% during the 4th quarter. LMR Partners LLP now owns 1,200,442 shares of the electronics maker's stock worth $57,045,000 after buying an additional 700,442 shares in the last quarter. Assetmark Inc. lifted its holdings in Corning by 101.5% during the 4th quarter. Assetmark Inc. now owns 1,076 shares of the electronics maker's stock worth $51,000 after buying an additional 542 shares in the last quarter. Gotham Asset Management LLC acquired a new stake in Corning during the 4th quarter worth approximately $306,000. GAMMA Investing LLC lifted its holdings in Corning by 29.2% during the 1st quarter. GAMMA Investing LLC now owns 11,358 shares of the electronics maker's stock worth $520,000 after buying an additional 2,567 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC lifted its holdings in Corning by 1.3% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 22,379 shares of the electronics maker's stock worth $1,024,000 after buying an additional 297 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GLW. Citigroup raised their price objective on shares of Corning from $52.00 to $60.00 and gave the company a "buy" rating in a report on Friday. Bank of America raised their price objective on shares of Corning from $65.00 to $68.00 and gave the company a "buy" rating in a report on Wednesday, March 19th. UBS Group raised their price objective on shares of Corning from $54.00 to $57.00 and gave the company a "neutral" rating in a report on Wednesday. Oppenheimer reduced their price objective on shares of 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 shares of Corning in a report on Tuesday. They issued an "outperform" rating on the stock. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $55.73.

Corning Trading Down 1.3%

Shares of Corning stock opened at $51.58 on Friday. Corning Incorporated has a 1 year low of $37.18 and a 1 year high of $55.33. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.05 and a current ratio of 1.69. The company has a market capitalization of $44.17 billion, a P/E ratio of 99.19, a PEG ratio of 1.41 and a beta of 1.11. The company's fifty day moving average is $49.87 and its two-hundred day moving average is $48.26.

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

Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Friday, August 29th. Corning's payout ratio is 215.38%.

Insiders Place Their Bets

In other news, VP John Z. Zhang sold 9,610 shares of Corning stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $49.29, for a total value of $473,676.90. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Michael Alan Bell sold 20,262 shares of Corning stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $44.06, for a total transaction of $892,743.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,796 shares of company stock valued at $3,632,635. Corporate insiders own 0.40% 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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