Jump Financial LLC Grows Stock Holdings in Corning Incorporated (NYSE:GLW)

Jump Financial LLC grew its position in Corning Incorporated (NYSE:GLW - Free Report) by 821.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 110,886 shares of the electronics maker's stock after purchasing an additional 98,858 shares during the period. Jump Financial LLC's holdings in Corning were worth $3,376,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Harvest Investment Advisors LLC raised its position in Corning by 1.0% during the third quarter. Harvest Investment Advisors LLC now owns 36,286 shares of the electronics maker's stock valued at $1,106,000 after acquiring an additional 364 shares in the last quarter. Venture Visionary Partners LLC lifted its stake in shares of Corning by 2.0% in the 4th quarter. Venture Visionary Partners LLC now owns 19,359 shares of the electronics maker's stock valued at $589,000 after purchasing an additional 380 shares during the last quarter. Fiera Capital Corp boosted its holdings in Corning by 2.7% in the third quarter. Fiera Capital Corp now owns 14,785 shares of the electronics maker's stock worth $450,000 after purchasing an additional 385 shares in the last quarter. New World Advisors LLC boosted its holdings in Corning by 3.5% in the fourth quarter. New World Advisors LLC now owns 11,800 shares of the electronics maker's stock worth $359,000 after purchasing an additional 400 shares in the last quarter. Finally, Western Wealth Management LLC increased its position in Corning by 1.6% during the third quarter. Western Wealth Management LLC now owns 25,719 shares of the electronics maker's stock worth $784,000 after buying an additional 405 shares during the last quarter. 69.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Corning

In other Corning news, VP Martin J. Curran sold 16,416 shares of the firm's stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $33.70, for a total transaction of $553,219.20. Following the completion of the transaction, the vice president now owns 65,598 shares in the company, valued at $2,210,652.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Corning news, VP Martin J. Curran sold 16,416 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $33.70, for a total transaction of $553,219.20. Following the completion of the transaction, the vice president now directly owns 65,598 shares in the company, valued at $2,210,652.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jeffrey W. Evenson sold 103,437 shares of the business's stock in a transaction on Monday, May 6th. The shares were sold at an average price of $33.19, for a total transaction of $3,433,074.03. Following the completion of the sale, the vice president now owns 70,110 shares in the company, valued at approximately $2,326,950.90. The disclosure for this sale can be found here. Insiders have sold a total of 239,841 shares of company stock valued at $7,971,257 over the last quarter. 0.40% of the stock is owned by company insiders.

Corning Stock Performance

GLW traded down $0.03 on Friday, hitting $34.17. 2,891,733 shares of the stock traded hands, compared to its average volume of 5,006,515. The business has a fifty day moving average price of $32.51 and a two-hundred day moving average price of $30.86. The company has a current ratio of 1.67, a quick ratio of 1.02 and a debt-to-equity ratio of 0.61. Corning Incorporated has a 52 week low of $25.26 and a 52 week high of $36.01. The firm has a market capitalization of $29.27 billion, a PE ratio of 48.13, a P/E/G ratio of 1.73 and a beta of 1.07.

Corning (NYSE:GLW - Get Free Report) last issued its earnings results on Tuesday, April 30th. The electronics maker reported $0.38 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.02. Corning had a return on equity of 12.31% and a net margin of 4.96%. The business had revenue of $2.98 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same period in the prior year, the company posted $0.41 earnings per share. Corning's revenue was down 11.5% on a year-over-year basis. On average, research analysts predict that Corning Incorporated will post 1.9 EPS for the current fiscal year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, May 31st will be given a dividend of $0.28 per share. The ex-dividend date is Thursday, May 30th. This represents a $1.12 annualized dividend and a dividend yield of 3.28%. Corning's dividend payout ratio (DPR) is currently 157.75%.

Analyst Upgrades and Downgrades

GLW has been the subject of several recent analyst reports. Morgan Stanley reiterated an "overweight" rating and set a $35.00 price target on shares of Corning in a research note on Monday, April 22nd. Barclays boosted their price objective on shares of Corning from $28.00 to $35.00 and gave the stock an "equal weight" rating in a research note on Wednesday, January 31st. HSBC lowered shares of Corning from a "hold" rating to a "reduce" rating and set a $29.00 target price on the stock. in a research note on Thursday, February 1st. Susquehanna reissued a "positive" rating and set a $40.00 target price on shares of Corning in a research report on Monday, April 1st. Finally, Mizuho started coverage on Corning in a research report on Tuesday, May 7th. They issued a "neutral" rating and a $36.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $35.00.

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.