Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lessened its stake in shares of Corning Incorporated (NYSE:GLW) by 1.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 366,297 shares of the electronics maker’s stock after selling 6,145 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Corning were worth $10,077,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Quantitative Systematic Strategies LLC boosted its holdings in shares of Corning by 317.7% in the 2nd quarter. Quantitative Systematic Strategies LLC now owns 42,258 shares of the electronics maker’s stock valued at $1,163,000 after acquiring an additional 32,140 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Corning by 8.3% in the 2nd quarter. Arizona State Retirement System now owns 338,944 shares of the electronics maker’s stock valued at $9,324,000 after acquiring an additional 25,939 shares during the last quarter. Robotti Robert boosted its holdings in shares of Corning by 25.0% in the 2nd quarter. Robotti Robert now owns 25,040 shares of the electronics maker’s stock valued at $689,000 after acquiring an additional 5,000 shares during the last quarter. ST Germain D J Co. Inc. boosted its holdings in shares of Corning by 1.3% in the 2nd quarter. ST Germain D J Co. Inc. now owns 135,328 shares of the electronics maker’s stock valued at $3,723,000 after acquiring an additional 1,745 shares during the last quarter. Finally, Johnson Financial Group Inc. boosted its holdings in shares of Corning by 4.7% in the 2nd quarter. Johnson Financial Group Inc. now owns 112,368 shares of the electronics maker’s stock valued at $3,091,000 after acquiring an additional 5,095 shares during the last quarter. 71.12% of the stock is currently owned by institutional investors.

GLW opened at $32.72 on Friday. The company has a quick ratio of 1.58, a current ratio of 2.23 and a debt-to-equity ratio of 0.44. Corning Incorporated has a 1 year low of $26.11 and a 1 year high of $35.10. The firm has a market capitalization of $26.52 billion, a P/E ratio of 19.02, a PEG ratio of 2.31 and a beta of 1.40.

Corning (NYSE:GLW) last posted its earnings results on Wednesday, July 25th. The electronics maker reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.01. Corning had a negative net margin of 8.32% and a positive return on equity of 12.03%. The firm had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same period in the previous year, the business posted $0.42 EPS. The business’s revenue was up 10.0% compared to the same quarter last year. equities research analysts forecast that Corning Incorporated will post 1.73 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, August 31st will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Thursday, August 30th. Corning’s dividend payout ratio is currently 41.86%.

Several analysts have recently commented on the stock. Zacks Investment Research raised shares of Corning from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a report on Wednesday, August 8th. TheStreet raised shares of Corning from a “c+” rating to a “b” rating in a report on Wednesday, July 25th. ValuEngine upgraded shares of Corning from a “hold” rating to a “buy” rating in a research note on Thursday, July 26th. UBS Group boosted their target price on shares of Corning from $29.50 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, July 26th. Finally, Morgan Stanley boosted their target price on shares of Corning from $34.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, July 26th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $33.68.

In other Corning news, VP Edward A. Schlesinger sold 3,953 shares of the company’s stock in a transaction on Monday, July 30th. The shares were sold at an average price of $33.46, for a total transaction of $132,267.38. Following the completion of the transaction, the vice president now directly owns 25,991 shares in the company, valued at $869,658.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Clark S. Kinlin sold 45,298 shares of the company’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $33.15, for a total transaction of $1,501,628.70. Following the transaction, the executive vice president now owns 72,741 shares of the company’s stock, valued at $2,411,364.15. The disclosure for this sale can be found here. Over the last quarter, insiders sold 612,264 shares of company stock valued at $19,079,432. Company insiders own 0.46% of the company’s stock.

About Corning

Corning Incorporated manufactures and sells specialty glasses, ceramics, and related materials in North America, the Asia Pacific, Europe, and internationally. The company operates through five segments: Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, and Life Sciences.

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Institutional Ownership by Quarter for Corning (NYSE:GLW)

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