Corning Incorporated (GLW) Stake Boosted by KAMES CAPITAL plc

KAMES CAPITAL plc grew its holdings in Corning Incorporated (NYSE:GLW) by 34.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 296,619 shares of the electronics maker’s stock after purchasing an additional 75,283 shares during the period. KAMES CAPITAL plc’s holdings in Corning were worth $9,489,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Corning by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 62,101,521 shares of the electronics maker’s stock valued at $1,866,151,000 after acquiring an additional 965,976 shares in the last quarter. LSV Asset Management boosted its holdings in shares of Corning by 1.3% during the 2nd quarter. LSV Asset Management now owns 13,011,732 shares of the electronics maker’s stock valued at $391,002,000 after acquiring an additional 165,214 shares in the last quarter. Jennison Associates LLC acquired a new stake in shares of Corning during the 3rd quarter valued at $275,460,000. Dimensional Fund Advisors LP boosted its holdings in shares of Corning by 0.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 8,090,707 shares of the electronics maker’s stock valued at $242,077,000 after acquiring an additional 56,973 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Corning by 17.0% during the 3rd quarter. Janus Henderson Group PLC now owns 6,881,667 shares of the electronics maker’s stock valued at $205,899,000 after acquiring an additional 999,912 shares in the last quarter. Institutional investors own 72.11% of the company’s stock.

In other news, CEO Wendell P. Weeks sold 248,857 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $31.37, for a total value of $7,806,644.09. Following the transaction, the chief executive officer now directly owns 65,333 shares of the company’s stock, valued at approximately $2,049,496.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark S. Rogus sold 9,242 shares of the business’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $32.12, for a total value of $296,853.04. The disclosure for this sale can be found here. Insiders sold a total of 348,320 shares of company stock worth $10,996,824 over the last three months. 0.59% of the stock is owned by company insiders.

Several equities research analysts recently weighed in on GLW shares. Oppenheimer reissued a “hold” rating on shares of Corning in a report on Wednesday, October 25th. Citigroup raised their price objective on Corning from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, October 25th. Guggenheim reissued a “buy” rating and set a $35.00 price objective on shares of Corning in a report on Thursday, September 21st. ValuEngine raised Corning from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Zacks Investment Research downgraded Corning from a “buy” rating to a “hold” rating in a report on Friday, December 22nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $30.48.

Corning Incorporated (NYSE GLW) opened at $34.66 on Friday. The stock has a market capitalization of $29,339.38, a PE ratio of 14.75, a PEG ratio of 2.76 and a beta of 1.33. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.69 and a quick ratio of 2.14. Corning Incorporated has a 52 week low of $24.13 and a 52 week high of $34.69.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, October 24th. The electronics maker reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.59 billion. Corning had a return on equity of 11.53% and a net margin of 24.98%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 EPS. sell-side analysts predict that Corning Incorporated will post 1.7 earnings per share for the current fiscal year.

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Corning Profile

Corning Incorporated is engaged in manufacturing specialty glass and ceramics. Its segments include Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, Life Sciences and All Other. The Display Technologies segment manufactures glass substrates for flat panel liquid crystal displays (LCDs).

Institutional Ownership by Quarter for Corning (NYSE:GLW)

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