Corning Incorporated (NYSE:GLW) Shares Bought by Jones Financial Companies Lllp

Jones Financial Companies Lllp increased its holdings in Corning Incorporated (NYSE:GLW) by 14.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 49,873 shares of the electronics maker’s stock after buying an additional 6,169 shares during the period. Jones Financial Companies Lllp’s holdings in Corning were worth $2,370,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Modera Wealth Management LLC raised its position in shares of Corning by 2.5% during the 4th quarter. Modera Wealth Management LLC now owns 20,778 shares of the electronics maker’s stock worth $987,000 after purchasing an additional 507 shares during the period. SRS Capital Advisors Inc. grew its stake in Corning by 106.1% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,389 shares of the electronics maker’s stock worth $114,000 after buying an additional 1,230 shares during the last quarter. Kinsale Capital Group Inc. increased its position in Corning by 10.5% in the fourth quarter. Kinsale Capital Group Inc. now owns 150,221 shares of the electronics maker’s stock worth $7,139,000 after buying an additional 14,253 shares during the period. Kohmann Bosshard Financial Services LLC bought a new stake in Corning in the fourth quarter valued at $89,000. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Corning by 57.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,000 shares of the electronics maker’s stock valued at $142,000 after acquiring an additional 1,095 shares during the period. Institutional investors own 69.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on GLW shares. Morgan Stanley increased their price objective on shares of Corning from $39.00 to $48.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Barclays dropped their price target on shares of Corning from $53.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Citigroup boosted their price objective on Corning from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Hsbc Global Res upgraded Corning from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 30th. Finally, StockNews.com lowered Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Four equities research 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 data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.00.

Corning Trading Up 1.3 %

Shares of GLW stock opened at $47.12 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 stock has a 50-day simple moving average of $50.15 and a 200 day simple moving average of $47.31. Corning Incorporated has a fifty-two week low of $30.72 and a fifty-two week high of $55.33. The stock has a market capitalization of $40.36 billion, a P/E ratio of 81.23, a P/E/G ratio of 1.50 and a beta of 1.03.

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

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be given a $0.28 dividend. The ex-dividend date is Friday, February 28th. This represents a $1.12 annualized dividend and a yield of 2.38%. Corning’s dividend payout ratio (DPR) is 193.10%.

Insider Buying and Selling at Corning

In related news, COO Eric S. Musser sold 30,000 shares of Corning stock in a transaction on Friday, January 31st. The stock was sold at an average price of $51.92, for a total value of $1,557,600.00. Following the transaction, the chief operating officer now directly owns 152,944 shares in the company, valued at $7,940,852.48. The trade was a 16.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Michael Alan Bell sold 2,209 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $49.87, for a total value of $110,162.83. The disclosure for this sale can be found here. 0.40% of the stock is owned by corporate insiders.

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.