West Family Investments Inc. Makes New Investment in Corning Incorporated (NYSE:GLW)

West Family Investments Inc. acquired a new position in Corning Incorporated (NYSE:GLW) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 4,485 shares of the electronics maker’s stock, valued at approximately $202,000.

A number of other institutional investors have also recently bought and sold shares of the business. City Holding Co. increased its stake in Corning by 545.5% in the third quarter. City Holding Co. now owns 710 shares of the electronics maker’s stock valued at $32,000 after acquiring an additional 600 shares during the last quarter. Cassady Schiller Wealth Management LLC acquired a new stake in shares of Corning in the 3rd quarter valued at $39,000. Global Trust Asset Management LLC increased its stake in shares of Corning by 2,250.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 940 shares of the electronics maker’s stock valued at $42,000 after purchasing an additional 900 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Corning by 90.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 994 shares of the electronics maker’s stock worth $45,000 after buying an additional 473 shares in the last quarter. Finally, Accordant Advisory Group Inc bought a new stake in shares of Corning during the 2nd quarter worth $39,000. Institutional investors own 69.80% of the company’s stock.

Corning Stock Performance

Shares of GLW opened at $47.35 on Thursday. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.62. The firm’s fifty day simple moving average is $46.08 and its two-hundred day simple moving average is $41.81. Corning Incorporated has a 12 month low of $27.57 and a 12 month high of $51.03. The stock has a market capitalization of $40.54 billion, a P/E ratio of 278.53, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03.

Corning (NYSE:GLW) last released its earnings results on Tuesday, October 29th. The electronics maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.53 by $0.01. The business had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Corning had a return on equity of 13.45% and a net margin of 1.24%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.45 earnings per share. As a group, analysts predict that Corning Incorporated will post 1.95 EPS for the current year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.12 annualized dividend and a dividend yield of 2.37%. Corning’s dividend payout ratio is currently 658.82%.

Analyst Ratings Changes

Several brokerages have commented on GLW. StockNews.com raised Corning from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Corning from $49.00 to $54.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Mizuho raised shares of Corning from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $44.00 to $47.00 in a research note on Wednesday, August 21st. Oppenheimer reiterated an “outperform” rating and set a $58.00 price target (up from $51.00) on shares of Corning in a report on Wednesday, October 30th. Finally, UBS Group boosted their price objective on Corning from $46.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.08.

Corning Profile

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.