Dakota Wealth Management Has $1.87 Million Holdings in Corning Incorporated (NYSE:GLW)

Dakota Wealth Management boosted its holdings in shares of Corning Incorporated (NYSE:GLW) by 280.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,479 shares of the electronics maker’s stock after purchasing an additional 30,578 shares during the period. Dakota Wealth Management’s holdings in Corning were worth $1,873,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of GLW. Access Investment Management LLC bought a new position in shares of Corning in the first quarter valued at about $28,000. City Holding Co. raised its stake in shares of Corning by 545.5% in the third quarter. City Holding Co. now owns 710 shares of the electronics maker’s stock worth $32,000 after acquiring an additional 600 shares during the last quarter. Register Financial Advisors LLC acquired a new position in shares of Corning during the first quarter worth approximately $33,000. ESL Trust Services LLC bought a new stake in shares of Corning during the first quarter valued at approximately $33,000. Finally, Accordant Advisory Group Inc acquired a new stake in shares of Corning in the second quarter valued at approximately $39,000. Institutional investors own 69.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Oppenheimer increased their price objective on Corning from $47.00 to $51.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Deutsche Bank Aktiengesellschaft lifted their price objective on Corning from $46.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Citigroup upped their target price on shares of Corning from $45.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, July 12th. JPMorgan Chase & Co. lifted their price target on shares of Corning from $47.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Finally, Susquehanna increased their price objective on shares of Corning from $46.00 to $55.00 and gave the company a “positive” rating in a report on Friday, September 20th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $47.23.

Corning Price Performance

Shares of GLW stock opened at $46.25 on Friday. The firm has a market capitalization of $39.62 billion, a price-to-earnings ratio of 65.14, a price-to-earnings-growth ratio of 1.77 and a beta of 1.04. Corning Incorporated has a 12-month low of $26.37 and a 12-month high of $47.72. The company has a quick ratio of 0.98, a current ratio of 1.57 and a debt-to-equity ratio of 0.63. The firm has a fifty day moving average of $43.86 and a 200-day moving average of $39.78.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, July 30th. The electronics maker reported $0.47 EPS for the quarter, topping 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 company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.55 billion. During the same quarter last year, the firm posted $0.45 earnings per share. Corning’s revenue was up 3.5% compared to the same quarter last year. On average, equities research analysts forecast that Corning Incorporated will post 1.91 earnings per share for the current year.

Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Friday, November 15th. Corning’s dividend payout ratio (DPR) is presently 157.75%.

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.