8,781 Shares in Corning Incorporated (NYSE:GLW) Acquired by True Vision MN LLC

True Vision MN LLC bought a new stake in shares of Corning Incorporated (NYSE:GLW) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 8,781 shares of the electronics maker’s stock, valued at approximately $396,000.

Other institutional investors and hedge funds have also modified their holdings of the company. RPg Family Wealth Advisory LLC bought a new position in Corning in the 3rd quarter worth $40,000. CreativeOne Wealth LLC lifted its position in shares of Corning by 20.5% during the 3rd quarter. CreativeOne Wealth LLC now owns 9,944 shares of the electronics maker’s stock valued at $449,000 after buying an additional 1,689 shares in the last quarter. Bridgewater Associates LP bought a new position in shares of Corning during the 3rd quarter valued at approximately $6,939,000. Capital Counsel LLC NY purchased a new stake in Corning in the 3rd quarter worth approximately $226,000. Finally, Baldwin Investment Management LLC bought a new stake in Corning during the 3rd quarter worth approximately $226,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Insider Buying and Selling

In other news, SVP John P. Bayne, Jr. sold 5,000 shares of Corning stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $48.39, for a total value of $241,950.00. Following the transaction, the senior vice president now owns 6,700 shares of the company’s stock, valued at $324,213. The trade was a 42.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP John P. Bayne, Jr. sold 8,876 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $49.09, for a total transaction of $435,722.84. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by insiders.

Corning Trading Up 0.6 %

Corning stock traded up $0.29 during mid-day trading on Wednesday, hitting $48.29. The company’s stock had a trading volume of 88,315 shares, compared to its average volume of 5,626,338. Corning Incorporated has a one year low of $27.57 and a one year high of $51.03. The stock has a market cap of $41.35 billion, a PE ratio of 282.35, a P/E/G ratio of 1.54 and a beta of 1.03. The company has a 50 day moving average of $46.53 and a 200-day moving average of $42.28. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.05 and a current ratio of 1.66.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, October 29th. The electronics maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. Corning had a return on equity of 13.45% and a net margin of 1.24%. The business had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.72 billion. Corning’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.45 EPS. On average, research analysts anticipate that Corning Incorporated will post 1.95 EPS for the current year.

Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Friday, November 15th. Corning’s payout ratio is 658.82%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GLW. UBS Group increased their price objective on shares of Corning from $46.00 to $51.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Barclays boosted their price objective on Corning from $40.00 to $53.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. StockNews.com cut Corning from a “buy” rating to a “hold” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft boosted their price target on Corning from $49.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $58.00 price objective (up from $51.00) on shares of Corning in a report on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $50.08.

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.