Corning Incorporated (NYSE:GLW) Shares Bought by Rothschild Investment Corp IL

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Rothschild Investment Corp IL boosted its stake in shares of Corning Incorporated (NYSE:GLW) by 7.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 75,854 shares of the electronics maker’s stock after buying an additional 5,270 shares during the quarter. Rothschild Investment Corp IL’s holdings in Corning were worth $2,163,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Nelson Roberts Investment Advisors LLC boosted its position in Corning by 31.7% during the second quarter. Nelson Roberts Investment Advisors LLC now owns 1,303 shares of the electronics maker’s stock worth $43,000 after acquiring an additional 314 shares during the last quarter. We Are One Seven LLC boosted its position in Corning by 1.0% during the second quarter. We Are One Seven LLC now owns 32,123 shares of the electronics maker’s stock worth $1,067,000 after acquiring an additional 322 shares during the last quarter. Flagship Harbor Advisors LLC boosted its position in Corning by 3.9% during the second quarter. Flagship Harbor Advisors LLC now owns 8,582 shares of the electronics maker’s stock worth $285,000 after acquiring an additional 322 shares during the last quarter. Trust Co. of Vermont boosted its position in Corning by 2.6% during the second quarter. Trust Co. of Vermont now owns 12,867 shares of the electronics maker’s stock worth $428,000 after acquiring an additional 324 shares during the last quarter. Finally, Greenleaf Trust boosted its position in Corning by 2.9% during the second quarter. Greenleaf Trust now owns 12,307 shares of the electronics maker’s stock worth $409,000 after acquiring an additional 345 shares during the last quarter. Institutional investors own 71.13% of the company’s stock.

In other news, insider Clark S. Kinlin sold 9,667 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $27.94, for a total value of $270,095.98. Following the transaction, the insider now owns 70,648 shares of the company’s stock, valued at approximately $1,973,905.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.46% of the company’s stock.

NYSE:GLW traded up $0.84 during trading hours on Friday, reaching $29.04. 583,437 shares of the company were exchanged, compared to its average volume of 6,259,866. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.85 and a quick ratio of 1.18. The firm has a market cap of $21.29 billion, a price-to-earnings ratio of 16.33, a PEG ratio of 1.76 and a beta of 1.16. Corning Incorporated has a 52-week low of $26.75 and a 52-week high of $35.34. The stock has a 50 day simple moving average of $28.11 and a 200 day simple moving average of $30.95.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, July 30th. The electronics maker reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.01. Corning had a net margin of 12.78% and a return on equity of 15.60%. The company had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.97 billion. During the same quarter last year, the firm posted $0.38 earnings per share. Corning’s revenue was up 7.0% on a year-over-year basis. On average, analysts predict that Corning Incorporated will post 1.71 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend is Thursday, November 14th. Corning’s dividend payout ratio is presently 44.94%.

GLW has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Corning from a “sell” rating to a “hold” rating and set a $30.00 price target on the stock in a research note on Friday, September 6th. Citigroup set a $32.00 price target on shares of Corning and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Cross Research downgraded shares of Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. S&P Equity Research downgraded shares of Corning from a “positive” rating to a “neutral” rating and cut their price target for the stock from $40.00 to $30.00 in a research note on Thursday, August 1st. They noted that the move was a valuation call. Finally, Argus set a $42.00 price target on shares of Corning and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Corning presently has an average rating of “Buy” and an average target price of $33.67.

Corning Profile

Corning Incorporated engages in display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses worldwide. The company's Display Technologies segment manufactures glass substrates for organic light-emitting diodes and liquid crystal displays used in televisions, notebook computers, and flat panel desktop monitors.

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Institutional Ownership by Quarter for Corning (NYSE:GLW)

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