Mather Group LLC. Increases Stock Position in Corning Incorporated (NYSE:GLW)

Mather Group LLC. raised its position in Corning Incorporated (NYSE:GLW) by 17.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,630 shares of the electronics maker’s stock after buying an additional 398 shares during the period. Mather Group LLC.’s holdings in Corning were worth $119,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Access Investment Management LLC purchased a new position in Corning during the first quarter worth approximately $28,000. Future Financial Wealth Managment LLC acquired a new stake in Corning in the 1st quarter valued at $33,000. Register Financial Advisors LLC purchased a new stake in Corning in the 1st quarter worth $33,000. ESL Trust Services LLC acquired a new position in Corning during the first quarter worth $33,000. Finally, Riverview Trust Co purchased a new position in Corning during the first quarter valued at $35,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Trading Up 1.0 %

GLW opened at $46.46 on Friday. The stock has a market capitalization of $39.80 billion, a PE ratio of 65.44, a P/E/G ratio of 1.72 and a beta of 1.04. Corning Incorporated has a one year low of $25.26 and a one year high of $47.45. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.98 and a current ratio of 1.57. The business’s 50 day moving average price is $42.34 and its 200 day moving average price is $38.85.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, July 30th. The electronics maker reported $0.47 EPS for the quarter, beating the consensus estimate of $0.46 by $0.01. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.55 billion. Corning had a return on equity of 12.69% and a net margin of 3.53%. The company’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.45 EPS. As a group, equities research analysts expect that Corning Incorporated will post 1.91 EPS for the current year.

Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Friday, November 15th. Corning’s dividend payout ratio is presently 157.75%.

Analyst Ratings Changes

GLW has been the subject of a number of research reports. Hsbc Global Res raised shares of Corning from a “moderate sell” rating to a “hold” rating in a research note on Tuesday, July 9th. Morgan Stanley reissued an “equal weight” rating and set a $39.00 target price on shares of Corning in a report on Friday, July 26th. Susquehanna lifted their price target on Corning from $46.00 to $55.00 and gave the stock a “positive” rating in a research note on Friday, September 20th. Deutsche Bank Aktiengesellschaft increased their price objective on Corning from $46.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, UBS Group lifted their target price on shares of Corning from $38.00 to $44.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 9th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.23.

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.