Corning Incorporated (NYSE:GLW) Stake Raised by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. lifted its holdings in shares of Corning Incorporated (NYSE:GLW) by 16.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,111 shares of the electronics maker’s stock after buying an additional 1,577 shares during the period. Meeder Advisory Services Inc.’s holdings in Corning were worth $432,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GLW. Cape Investment Advisory Inc. raised its holdings in Corning by 800.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 900 shares of the electronics maker’s stock worth $27,000 after purchasing an additional 800 shares in the last quarter. Access Investment Management LLC bought a new stake in shares of Corning in the 1st quarter worth $28,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Corning by 347.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,060 shares of the electronics maker’s stock valued at $32,000 after buying an additional 823 shares during the period. Future Financial Wealth Managment LLC bought a new position in Corning during the first quarter valued at about $33,000. Finally, Register Financial Advisors LLC acquired a new position in Corning during the first quarter worth about $33,000. 69.80% of the stock is owned by institutional investors.

Corning Trading Up 1.5 %

Shares of NYSE:GLW opened at $42.50 on Monday. The firm has a fifty day moving average of $41.84 and a two-hundred day moving average of $37.19. The company has a quick ratio of 0.98, a current ratio of 1.57 and a debt-to-equity ratio of 0.63. Corning Incorporated has a 12-month low of $25.26 and a 12-month high of $46.39. The firm has a market capitalization of $36.37 billion, a P/E ratio of 59.86, a price-to-earnings-growth ratio of 1.62 and a beta of 1.04.

Corning (NYSE:GLW) last released its quarterly earnings data on Tuesday, July 30th. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. Corning had a return on equity of 12.69% and a net margin of 3.53%. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.55 billion. During the same quarter last year, the firm earned $0.45 earnings per share. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, equities analysts expect that Corning Incorporated will post 1.91 EPS for the current fiscal year.

Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.12 dividend on an annualized basis and a yield of 2.64%. Corning’s dividend payout ratio is currently 157.75%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on GLW shares. Susquehanna raised their price objective on shares of Corning from $40.00 to $46.00 and gave the company a “positive” rating in a research report on Wednesday, July 31st. Barclays lifted their price target on shares of Corning from $36.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft raised Corning from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a report on Wednesday, July 31st. Argus lifted their target price on Corning from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Finally, Mizuho raised Corning from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $44.00 to $47.00 in a research report on Wednesday, August 21st. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $45.62.

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.