OneDigital Investment Advisors LLC Has $1.24 Million Holdings in Corning Incorporated (NYSE:GLW)

OneDigital Investment Advisors LLC raised its holdings in Corning Incorporated (NYSE:GLW) by 13.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,496 shares of the electronics maker’s stock after buying an additional 3,204 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Corning were worth $1,241,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Corning by 0.5% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 444,777 shares of the electronics maker’s stock worth $14,659,000 after acquiring an additional 2,079 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position in Corning by 21.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 29,591 shares of the electronics maker’s stock worth $975,000 after acquiring an additional 5,151 shares during the period. Bessemer Group Inc. raised its stake in Corning by 3.1% in the 1st quarter. Bessemer Group Inc. now owns 24,655 shares of the electronics maker’s stock valued at $812,000 after acquiring an additional 743 shares during the period. Lake Street Advisors Group LLC bought a new position in shares of Corning in the first quarter worth $203,000. Finally, National Bank of Canada FI boosted its position in shares of Corning by 27.8% in the first quarter. National Bank of Canada FI now owns 570,161 shares of the electronics maker’s stock valued at $19,476,000 after acquiring an additional 123,929 shares during the period. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Price Performance

NYSE GLW opened at $46.44 on Tuesday. The stock has a market cap of $39.76 billion, a price-to-earnings ratio of 273.18, a PEG ratio of 1.49 and a beta of 1.03. Corning Incorporated has a 12 month low of $27.57 and a 12 month high of $51.03. The company’s 50 day moving average is $45.85 and its two-hundred day moving average is $41.68. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last released its quarterly earnings data on Tuesday, October 29th. The electronics maker reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.01. Corning had a net margin of 1.24% and a return on equity of 13.45%. The firm had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter last year, the business posted $0.45 earnings per share. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, research analysts anticipate that Corning Incorporated will post 1.95 earnings per share for the current year.

Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be given a $0.28 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.12 annualized dividend and a yield of 2.41%. Corning’s dividend payout ratio is currently 658.82%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on GLW shares. Susquehanna increased their price objective on Corning from $46.00 to $55.00 and gave the company a “positive” rating in a research report on Friday, September 20th. Morgan Stanley reiterated an “equal weight” rating and issued a $39.00 price objective on shares of Corning in a report on Friday, July 26th. JPMorgan Chase & Co. raised their price objective on Corning from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Mizuho upgraded Corning from a “neutral” rating to an “outperform” rating and raised their price target for the company from $44.00 to $47.00 in a report on Wednesday, August 21st. Finally, Barclays upped their price target on shares of Corning from $40.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $50.08.

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.