Kintegral Advisory LLC Has $524,000 Stock Holdings in Corning Incorporated (NYSE:GLW)

Kintegral Advisory LLC reduced its stake in Corning Incorporated (NYSE:GLW - Free Report) by 32.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,455 shares of the electronics maker's stock after selling 5,619 shares during the period. Kintegral Advisory LLC's holdings in Corning were worth $524,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. University of Texas Texas AM Investment Management Co. grew its holdings in shares of Corning by 9.7% during the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 2,422 shares of the electronics maker's stock valued at $115,000 after acquiring an additional 214 shares in the last quarter. Seeds Investor LLC grew its holdings in shares of Corning by 3.0% during the 4th quarter. Seeds Investor LLC now owns 7,708 shares of the electronics maker's stock valued at $366,000 after acquiring an additional 221 shares in the last quarter. CreativeOne Wealth LLC grew its holdings in shares of Corning by 2.4% during the 4th quarter. CreativeOne Wealth LLC now owns 10,182 shares of the electronics maker's stock valued at $484,000 after acquiring an additional 238 shares in the last quarter. Old North State Wealth Management LLC grew its holdings in shares of Corning by 0.6% during the 1st quarter. Old North State Wealth Management LLC now owns 40,107 shares of the electronics maker's stock valued at $1,836,000 after acquiring an additional 239 shares in the last quarter. Finally, Colonial Trust Co SC grew its holdings in shares of Corning by 3.8% during the 4th quarter. Colonial Trust Co SC now owns 7,138 shares of the electronics maker's stock valued at $339,000 after acquiring an additional 258 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Stock Performance

GLW stock traded up $0.37 during mid-day trading on Friday, reaching $53.09. 2,066,077 shares of the stock traded hands, compared to its average volume of 5,645,663. 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 52 week low of $37.18 and a 52 week high of $55.33. The business has a 50-day moving average of $49.10 and a two-hundred day moving average of $48.09. The firm has a market capitalization of $45.47 billion, a PE ratio of 102.10, a P/E/G ratio of 1.43 and a beta of 1.11.

Corning (NYSE:GLW - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The electronics maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $3.63 billion. During the same period in the prior year, the company earned $0.38 earnings per share. The business's quarterly 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 EPS for the current fiscal year.

Corning Announces Dividend

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 given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Friday, August 29th. Corning's dividend payout ratio is currently 215.38%.

Insiders Place Their Bets

In related news, VP John Z. Zhang sold 8,000 shares of the stock in a transaction dated Monday, May 12th. The shares were 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 in the company, valued at approximately $450,805.10. This trade represents a 45.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael Alan Bell sold 20,262 shares of the 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. Insiders have sold 75,796 shares of company stock valued at $3,632,635 in the last quarter. 0.32% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

GLW has been the topic of several research analyst reports. Bank of America boosted their price target on shares of Corning from $65.00 to $68.00 and gave the company a "buy" rating in a report on Wednesday, March 19th. Citigroup decreased their price objective on shares of Corning from $58.00 to $50.00 and set a "buy" rating for the company in a report on Monday, April 14th. Oppenheimer decreased their price objective on shares of Corning from $58.00 to $55.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. JPMorgan Chase & Co. decreased their price objective on shares of Corning from $62.00 to $50.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Finally, Mizuho set a $52.00 price objective on shares of Corning in a report on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $53.75.

Corning 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.