J.W. Cole Advisors Inc. Invests $1.55 Million in Corning Incorporated (NYSE:GLW)

J.W. Cole Advisors Inc. purchased a new stake in shares of Corning Incorporated (NYSE:GLW - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 33,774 shares of the electronics maker's stock, valued at approximately $1,546,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. LMR Partners LLP grew its holdings in Corning by 140.1% during the fourth quarter. LMR Partners LLP now owns 1,200,442 shares of the electronics maker's stock valued at $57,045,000 after purchasing an additional 700,442 shares during the period. Gotham Asset Management LLC bought a new position in Corning during the fourth quarter valued at $306,000. GAMMA Investing LLC grew its holdings in Corning by 29.2% during the first quarter. GAMMA Investing LLC now owns 11,358 shares of the electronics maker's stock valued at $520,000 after purchasing an additional 2,567 shares during the period. Dynamic Advisor Solutions LLC grew its holdings in Corning by 1.3% during the first quarter. Dynamic Advisor Solutions LLC now owns 22,379 shares of the electronics maker's stock valued at $1,024,000 after purchasing an additional 297 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Corning by 1.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,300,954 shares of the electronics maker's stock valued at $59,558,000 after purchasing an additional 23,781 shares during the period. 69.80% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Corning

In other Corning news, VP John Z. Zhang sold 9,610 shares of the firm's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $49.29, for a total transaction of $473,676.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Stefan Becker sold 17,106 shares of the firm's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $49.68, for a total value of $849,826.08. Following the sale, the senior vice president owned 16,117 shares in the company, valued at $800,692.56. The trade was a 51.49% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 75,796 shares of company stock valued at $3,632,635. 0.40% of the stock is currently owned by company insiders.

Corning Price Performance

Shares of GLW stock traded down $0.36 on Friday, reaching $55.37. The company's stock had a trading volume of 4,717,798 shares, compared to its average volume of 3,971,845. The company has a quick ratio of 1.05, a current ratio of 1.69 and a debt-to-equity ratio of 0.62. Corning Incorporated has a 12-month low of $37.18 and a 12-month high of $56.25. The company has a market capitalization of $47.42 billion, a P/E ratio of 106.47, a PEG ratio of 1.49 and a beta of 1.11. The stock's 50 day simple moving average is $51.45 and its 200-day simple moving average is $48.71.

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 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 the consensus estimate of $3.63 billion. During the same quarter last year, the business posted $0.38 earnings per share. The firm's revenue was up 12.9% compared to the same quarter last year. As a group, equities analysts predict that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be given a $0.28 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.02%. Corning's dividend payout ratio (DPR) is presently 215.38%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on GLW shares. Mizuho increased their price objective on Corning from $52.00 to $59.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Wolfe Research started coverage on Corning in a report on Tuesday, July 8th. They issued an "outperform" rating for the company. Oppenheimer cut their price target on Corning from $58.00 to $55.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Citigroup raised their price target on Corning from $52.00 to $60.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Finally, UBS Group raised their price target on Corning from $54.00 to $57.00 and gave the stock a "neutral" rating in a report on Wednesday, July 9th. Four 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 company has an average rating of "Moderate Buy" and an average target price of $57.73.

About Corning

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.