Rathbone Brothers plc raised its holdings in shares of Corning Incorporated (NYSE:GLW) by 6.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 77,739 shares of the electronics maker’s stock after purchasing an additional 4,500 shares during the quarter. Rathbone Brothers plc’s holdings in Corning were worth $2,744,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of GLW. GHP Investment Advisors Inc. lifted its holdings in Corning by 2.5% during the 2nd quarter. GHP Investment Advisors Inc. now owns 63,656 shares of the electronics maker’s stock worth $1,751,000 after buying an additional 1,550 shares during the last quarter. IFP Advisors Inc lifted its holdings in Corning by 6.4% during the 2nd quarter. IFP Advisors Inc now owns 25,922 shares of the electronics maker’s stock worth $713,000 after buying an additional 1,551 shares during the last quarter. Whittier Trust Co. lifted its holdings in Corning by 21.7% during the 2nd quarter. Whittier Trust Co. now owns 8,829 shares of the electronics maker’s stock worth $243,000 after buying an additional 1,575 shares during the last quarter. Chicago Partners Investment Group LLC lifted its holdings in Corning by 5.5% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 32,433 shares of the electronics maker’s stock worth $892,000 after buying an additional 1,691 shares during the last quarter. Finally, Bessemer Group Inc. lifted its holdings in Corning by 8.8% during the 2nd quarter. Bessemer Group Inc. now owns 21,257 shares of the electronics maker’s stock worth $585,000 after buying an additional 1,714 shares during the last quarter. Hedge funds and other institutional investors own 70.38% of the company’s stock.

In related news, VP Christine M. Pambianchi sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $33.66, for a total value of $33,660.00. Following the sale, the vice president now owns 60,403 shares of the company’s stock, valued at approximately $2,033,164.98. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Christine M. Pambianchi sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $33.42, for a total value of $334,200.00. Following the completion of the sale, the vice president now directly owns 50,403 shares in the company, valued at approximately $1,684,468.26. The disclosure for this sale can be found here. In the last three months, insiders sold 414,272 shares of company stock worth $13,759,300. Company insiders own 0.46% of the company’s stock.

Shares of NYSE GLW opened at $32.13 on Friday. The company has a market capitalization of $28.59 billion, a P/E ratio of 18.68, a P/E/G ratio of 2.49 and a beta of 1.35. Corning Incorporated has a 12-month low of $26.11 and a 12-month high of $36.56. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.58 and a current ratio of 2.23.

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

The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 16th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend is Thursday, November 15th. Corning’s dividend payout ratio (DPR) is 41.86%.

A number of research firms have commented on GLW. Goldman Sachs Group raised Corning from a “sell” rating to a “neutral” rating and set a $29.00 target price on the stock in a report on Wednesday, June 20th. Guggenheim reaffirmed a “buy” rating on shares of Corning in a report on Wednesday, July 25th. Zacks Investment Research raised Corning from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a report on Wednesday, August 8th. Morgan Stanley increased their target price on Corning from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, July 26th. Finally, Citigroup raised Corning from a “neutral” rating to a “buy” rating and increased their target price for the stock from $32.50 to $40.00 in a report on Friday, September 14th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $36.10.

Corning Profile

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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