Bahl & Gaynor Inc. boosted its position in shares of Corning Incorporated (NYSE:GLW) by 490.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 136,350 shares of the electronics maker’s stock after purchasing an additional 113,274 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Corning were worth $2,800,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. NWK Group Inc. purchased a new position in shares of Corning in the 4th quarter valued at $29,000. Robecosam AG increased its holdings in shares of Corning by 6.3% in the 4th quarter. Robecosam AG now owns 850,000 shares of the electronics maker’s stock valued at $29,000 after acquiring an additional 50,000 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in shares of Corning by 700.0% in the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,400 shares of the electronics maker’s stock valued at $29,000 after acquiring an additional 1,225 shares during the period. Whitnell & Co. grew its stake in Corning by 42.7% during the 4th quarter. Whitnell & Co. now owns 1,427 shares of the electronics maker’s stock worth $42,000 after buying an additional 427 shares during the last quarter. Finally, FinTrust Capital Advisors LLC grew its stake in Corning by 41.6% during the 1st quarter. FinTrust Capital Advisors LLC now owns 2,102 shares of the electronics maker’s stock worth $43,000 after buying an additional 618 shares during the last quarter. Institutional investors own 73.18% of the company’s stock.

NYSE GLW traded down $0.11 during trading hours on Friday, reaching $25.70. The company’s stock had a trading volume of 46,990 shares, compared to its average volume of 7,811,159. The firm has a market capitalization of $19.64 billion, a price-to-earnings ratio of 80.64, a P/E/G ratio of 13.47 and a beta of 1.09. Corning Incorporated has a 1-year low of $17.44 and a 1-year high of $34.26. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.18 and a quick ratio of 1.44. The company’s 50-day moving average is $23.79 and its two-hundred day moving average is $24.97.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. Corning had a return on equity of 13.01% and a net margin of 3.29%. The company had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter in the prior year, the firm posted $0.40 EPS. Corning’s quarterly revenue was down 15.0% compared to the same quarter last year. Equities analysts forecast that Corning Incorporated will post 1.03 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, May 28th. This represents a $0.88 annualized dividend and a yield of 3.42%. Corning’s dividend payout ratio (DPR) is currently 50.00%.

Several brokerages recently weighed in on GLW. Susquehanna Bancshares restated a “hold” rating and set a $22.00 target price on shares of Corning in a research note on Tuesday, April 28th. Barclays cut Corning from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $26.00 to $22.00 in a research report on Wednesday, April 29th. Oppenheimer reissued a “hold” rating on shares of Corning in a report on Tuesday, April 28th. Morgan Stanley boosted their price objective on Corning from $24.00 to $26.00 and gave the company an “equal weight” rating in a report on Wednesday, June 10th. Finally, ValuEngine cut Corning from a “buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Corning has a consensus rating of “Hold” and a consensus price target of $29.73.

About Corning

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.

See Also: What is meant by holder of record?

Want to see what other hedge funds are holding GLW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corning Incorporated (NYSE:GLW).

Institutional Ownership by Quarter for Corning (NYSE:GLW)

Receive News & Ratings for Corning Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corning and related companies with MarketBeat.com's FREE daily email newsletter.