Corning Incorporated (NYSE:GLW) Shares Purchased by Hilltop Holdings Inc.

Hilltop Holdings Inc. boosted its holdings in Corning Incorporated (NYSE:GLW) by 39.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,503 shares of the electronics maker’s stock after acquiring an additional 10,287 shares during the quarter. Hilltop Holdings Inc.’s holdings in Corning were worth $1,648,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in GLW. Cetera Investment Advisers increased its position in Corning by 115.0% in the 1st quarter. Cetera Investment Advisers now owns 178,087 shares of the electronics maker’s stock valued at $5,870,000 after acquiring an additional 95,245 shares during the period. Cetera Advisors LLC increased its position in shares of Corning by 126.5% during the 1st quarter. Cetera Advisors LLC now owns 53,129 shares of the electronics maker’s stock valued at $1,751,000 after purchasing an additional 29,669 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Corning by 184.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,018 shares of the electronics maker’s stock valued at $101,000 after purchasing an additional 1,958 shares during the period. GAMMA Investing LLC increased its position in shares of Corning by 46.1% during the 2nd quarter. GAMMA Investing LLC now owns 2,042 shares of the electronics maker’s stock valued at $79,000 after purchasing an additional 644 shares during the period. Finally, Kingswood Wealth Advisors LLC increased its position in shares of Corning by 22.4% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 22,652 shares of the electronics maker’s stock valued at $880,000 after purchasing an additional 4,147 shares during the period. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Trading Down 0.1 %

Corning stock opened at $49.17 on Wednesday. Corning Incorporated has a 52 week low of $28.30 and a 52 week high of $51.03. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.05 and a current ratio of 1.66. The firm has a market capitalization of $42.10 billion, a PE ratio of 289.24, a PEG ratio of 1.57 and a beta of 1.03. The business’s 50-day simple moving average is $46.95 and its 200-day simple moving average is $42.76.

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

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Friday, November 15th. Corning’s payout ratio is 658.82%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Barclays lifted their price target on Corning from $40.00 to $53.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. UBS Group raised their price objective on Corning from $46.00 to $51.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Oppenheimer reissued an “outperform” rating and set a $58.00 price objective (up from $51.00) on shares of Corning in a research note on Wednesday, October 30th. StockNews.com raised Corning from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Corning from $49.00 to $54.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $50.08.

Insider Buying and Selling at Corning

In related news, SVP John P. Bayne, Jr. sold 8,876 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $49.09, for a total transaction of $435,722.84. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP John P. Bayne, Jr. sold 5,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $48.39, for a total value of $241,950.00. Following the sale, the senior vice president now owns 6,700 shares in the company, valued at approximately $324,213. This trade represents a 42.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.45% of the company’s stock.

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.