22,500 Shares in Corning Incorporated (NYSE:GLW) Acquired by GKV Capital Management Co. Inc.

GKV Capital Management Co. Inc. acquired a new stake in Corning Incorporated (NYSE:GLW) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 22,500 shares of the electronics maker’s stock, valued at approximately $1,069,000.

Other large investors have also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund grew its stake in shares of Corning by 0.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 66,063 shares of the electronics maker’s stock valued at $3,139,000 after acquiring an additional 204 shares in the last quarter. Principal Securities Inc. grew its position in shares of Corning by 3.5% during the 4th quarter. Principal Securities Inc. now owns 6,170 shares of the electronics maker’s stock worth $293,000 after purchasing an additional 211 shares in the last quarter. Bogart Wealth LLC increased its holdings in shares of Corning by 18.3% during the fourth quarter. Bogart Wealth LLC now owns 1,419 shares of the electronics maker’s stock worth $67,000 after purchasing an additional 219 shares during the period. Buffington Mohr McNeal raised its position in shares of Corning by 2.1% in the fourth quarter. Buffington Mohr McNeal now owns 10,461 shares of the electronics maker’s stock valued at $497,000 after buying an additional 220 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in shares of Corning by 1.1% in the fourth quarter. Allworth Financial LP now owns 19,581 shares of the electronics maker’s stock valued at $930,000 after buying an additional 220 shares during the period. Institutional investors own 69.80% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on GLW. Hsbc Global Res upgraded Corning from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 30th. Mizuho set a $52.00 price target on Corning in a research note on Tuesday. StockNews.com downgraded shares of Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Citigroup decreased their target price on shares of Corning from $58.00 to $50.00 and set a “buy” rating on the stock in a report on Monday. Finally, HSBC raised shares of Corning from a “hold” rating to a “buy” rating and upped their price target for the stock from $51.00 to $60.00 in a report on Thursday, January 30th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Corning currently has an average rating of “Moderate Buy” and an average target price of $54.08.

Corning Trading Down 1.1 %

Shares of GLW stock opened at $41.30 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.62 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $35.38 billion, a P/E ratio of 71.21, a P/E/G ratio of 1.50 and a beta of 1.03. Corning Incorporated has a twelve month low of $30.72 and a twelve month high of $55.33. The stock’s fifty day simple moving average is $46.86 and its 200 day simple moving average is $47.71.

Corning (NYSE:GLW) last released its quarterly earnings data on Wednesday, January 29th. The electronics maker reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.01. Corning had a return on equity of 15.10% and a net margin of 3.86%. As a group, sell-side analysts predict that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, February 28th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend was Friday, February 28th. Corning’s payout ratio is 193.10%.

Insider Transactions at Corning

In related news, SVP Michael Alan Bell sold 2,209 shares of the stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $49.87, for a total transaction of $110,162.83. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Eric S. Musser sold 30,000 shares of Corning stock in a transaction on Friday, January 31st. The shares were sold at an average price of $51.92, for a total transaction of $1,557,600.00. Following the completion of the sale, the chief operating officer now directly owns 152,944 shares of the company’s stock, valued at approximately $7,940,852.48. This trade represents a 16.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.