Thompson Davis & CO. Inc. Has $389,000 Stock Holdings in Corning Incorporated (NYSE:GLW)

Thompson Davis & CO. Inc. boosted its position in Corning Incorporated (NYSE:GLW) by 26.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,177 shares of the electronics maker’s stock after buying an additional 1,702 shares during the quarter. Thompson Davis & CO. Inc.’s holdings in Corning were worth $389,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sound Income Strategies LLC raised its position in Corning by 76.7% in the 4th quarter. Sound Income Strategies LLC now owns 523 shares of the electronics maker’s stock valued at $25,000 after buying an additional 227 shares during the last quarter. Sierra Ocean LLC bought a new position in Corning in the fourth quarter valued at approximately $25,000. Asset Planning Inc bought a new position in Corning in the fourth quarter valued at approximately $29,000. Rosenberg Matthew Hamilton grew its stake in Corning by 202.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 747 shares of the electronics maker’s stock valued at $35,000 after purchasing an additional 500 shares in the last quarter. Finally, JFS Wealth Advisors LLC grew its stake in Corning by 171.8% in the fourth quarter. JFS Wealth Advisors LLC now owns 810 shares of the electronics maker’s stock valued at $38,000 after purchasing an additional 512 shares in the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GLW. UBS Group raised their price target on Corning from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Citigroup raised their price target on Corning from $55.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. JPMorgan Chase & Co. raised their price target on Corning from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. HSBC upgraded Corning from a “hold” rating to a “buy” rating and raised their price target for the company from $51.00 to $60.00 in a research note on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Corning from $49.00 to $54.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Corning currently has an average rating of “Moderate Buy” and an average target price of $53.00.

Corning Stock Performance

GLW opened at $51.46 on Friday. The business has a fifty day simple moving average of $49.85 and a 200 day simple moving average of $46.61. The company has a market capitalization of $44.08 billion, a PE ratio of 88.72, a price-to-earnings-growth ratio of 1.50 and a beta of 1.03. Corning Incorporated has a 1 year low of $30.72 and a 1 year high of $55.33. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.62 and a quick ratio of 1.07.

Corning (NYSE:GLW) last released its quarterly earnings results 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%. Research analysts expect that Corning Incorporated will post 2.33 EPS for the current year.

Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.12 annualized dividend and a yield of 2.18%. Corning’s dividend payout ratio is presently 193.11%.

Insider Buying and Selling at Corning

In other Corning news, SVP Michael Alan Bell sold 2,209 shares of Corning stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $49.87, for a total value of $110,162.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 value of $1,557,600.00. Following the completion of the transaction, the chief operating officer now directly owns 152,944 shares of the company’s stock, valued at $7,940,852.48. This represents a 16.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,085 shares of company stock valued at $2,103,486 in the last three months. Corporate insiders own 0.40% of the company’s stock.

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.