5,524 Shares in Corning Incorporated (NYSE:GLW) Purchased by Howard Capital Management Inc.

Howard Capital Management Inc. acquired a new stake in Corning Incorporated (NYSE:GLW) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 5,524 shares of the electronics maker’s stock, valued at approximately $215,000.

Other institutional investors also recently modified their holdings of the company. Fisher Asset Management LLC lifted its holdings in Corning by 61.5% during the 4th quarter. Fisher Asset Management LLC now owns 16,747 shares of the electronics maker’s stock worth $510,000 after buying an additional 6,376 shares in the last quarter. Natixis Advisors L.P. lifted its stake in shares of Corning by 29.6% during the fourth quarter. Natixis Advisors L.P. now owns 131,323 shares of the electronics maker’s stock valued at $3,998,000 after acquiring an additional 30,001 shares during the period. Lincoln National Corp boosted its holdings in Corning by 5.3% in the fourth quarter. Lincoln National Corp now owns 25,638 shares of the electronics maker’s stock valued at $781,000 after acquiring an additional 1,287 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Corning by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,588,198 shares of the electronics maker’s stock worth $139,711,000 after purchasing an additional 105,464 shares during the period. Finally, Principal Securities Inc. bought a new stake in Corning during the 4th quarter worth about $125,000. 69.80% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on GLW shares. Oppenheimer restated an “outperform” rating and issued a $47.00 price objective (down from $50.00) on shares of Corning in a report on Wednesday, July 31st. Fox Advisors upgraded Corning from an “equal weight” rating to an “overweight” rating and set a $45.00 price target on the stock in a research report on Monday, June 17th. Barclays upped their price objective on Corning from $36.00 to $40.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Mizuho upgraded Corning from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $44.00 to $47.00 in a report on Wednesday, August 21st. Finally, Bank of America lowered their price target on Corning from $47.00 to $46.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $45.62.

Corning Trading Down 1.7 %

NYSE GLW opened at $40.66 on Friday. The company has a market cap of $34.79 billion, a PE ratio of 57.26, a PEG ratio of 1.60 and a beta of 1.04. Corning Incorporated has a 12 month low of $25.26 and a 12 month high of $46.39. The stock has a 50 day moving average of $41.52 and a 200-day moving average of $36.80. The company has a current ratio of 1.57, a quick ratio of 0.98 and a debt-to-equity ratio of 0.63.

Corning (NYSE:GLW) last released its quarterly earnings data on Tuesday, July 30th. The electronics maker reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.55 billion. Corning had a net margin of 3.53% and a return on equity of 12.69%. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.45 earnings per share. On average, equities research analysts anticipate that Corning Incorporated will post 1.91 EPS for the current fiscal year.

Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be issued a $0.28 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.12 annualized dividend and a yield of 2.75%. Corning’s dividend payout ratio is currently 157.75%.

Corning Company 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.