Corning Incorporated (NYSE:GLW) Shares Purchased by Hanseatic Management Services Inc.

Hanseatic Management Services Inc. grew its position in Corning Incorporated (NYSE:GLW) by 38.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 8,060 shares of the electronics maker’s stock after acquiring an additional 2,241 shares during the quarter. Hanseatic Management Services Inc.’s holdings in Corning were worth $364,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of GLW. Price T Rowe Associates Inc. MD increased its holdings in shares of Corning by 35.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,200,828 shares of the electronics maker’s stock valued at $566,941,000 after purchasing an additional 4,464,893 shares during the period. Natixis grew its holdings in Corning by 2,405.2% during the first quarter. Natixis now owns 1,807,801 shares of the electronics maker’s stock worth $59,585,000 after acquiring an additional 1,735,638 shares during the period. Pathway Financial Advisers LLC lifted its holdings in Corning by 4,306.9% in the third quarter. Pathway Financial Advisers LLC now owns 1,050,463 shares of the electronics maker’s stock valued at $47,428,000 after acquiring an additional 1,026,626 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Corning by 10,626.4% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,013,000 shares of the electronics maker’s stock worth $33,388,000 after purchasing an additional 1,003,556 shares during the period. Finally, Shellback Capital LP purchased a new position in shares of Corning in the 2nd quarter valued at about $34,483,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Price Performance

Shares of NYSE GLW opened at $48.24 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.66 and a quick ratio of 1.05. Corning Incorporated has a 1-year low of $26.94 and a 1-year high of $51.03. The company has a market capitalization of $41.30 billion, a price-to-earnings ratio of 283.76, a PEG ratio of 1.51 and a beta of 1.03. The business has a 50-day moving average of $44.83 and a 200-day moving average of $40.75.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, October 29th. The electronics maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.01. The company had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.72 billion. Corning had a return on equity of 13.45% and a net margin of 1.24%. Corning’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 EPS. On average, equities analysts anticipate that Corning Incorporated will post 1.95 EPS for the current fiscal year.

Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.32%. The ex-dividend date is Friday, November 15th. Corning’s dividend payout ratio is currently 658.82%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Corning from $49.00 to $54.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Citigroup lifted their price target on Corning from $45.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Oppenheimer restated an “outperform” rating and set a $58.00 target price (up from $51.00) on shares of Corning in a report on Wednesday, October 30th. Barclays upped their price target on shares of Corning from $40.00 to $53.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. lifted their price objective on Corning from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Corning presently has an average rating of “Moderate Buy” and an average price target of $50.08.

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.