EP Wealth Advisors LLC Has $771,000 Stock Position in Corning Incorporated (NYSE:GLW)

EP Wealth Advisors LLC boosted its stake in Corning Incorporated (NYSE:GLW) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,218 shares of the electronics maker’s stock after purchasing an additional 772 shares during the quarter. EP Wealth Advisors LLC’s holdings in Corning were worth $771,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Oregon Public Employees Retirement Fund lifted its holdings in shares of Corning by 0.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 66,063 shares of the electronics maker’s stock worth $3,139,000 after acquiring an additional 204 shares during the period. Principal Securities Inc. boosted its holdings in shares of Corning by 3.5% in the 4th quarter. Principal Securities Inc. now owns 6,170 shares of the electronics maker’s stock valued at $293,000 after purchasing an additional 211 shares in the last quarter. Bogart Wealth LLC increased its stake in shares of Corning by 18.3% in the 4th quarter. Bogart Wealth LLC now owns 1,419 shares of the electronics maker’s stock valued at $67,000 after purchasing an additional 219 shares during the last quarter. Buffington Mohr McNeal raised its holdings in shares of Corning by 2.1% during the 4th quarter. Buffington Mohr McNeal now owns 10,461 shares of the electronics maker’s stock worth $497,000 after buying an additional 220 shares in the last quarter. Finally, Allworth Financial LP lifted its position in shares of Corning by 1.1% during the 4th quarter. Allworth Financial LP now owns 19,581 shares of the electronics maker’s stock worth $930,000 after buying an additional 220 shares during the last quarter. Institutional investors own 69.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. StockNews.com cut shares of Corning from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Mizuho set a $52.00 target price on shares of Corning in a research report on Tuesday, April 15th. JPMorgan Chase & Co. lowered their price target on shares of Corning from $62.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Barclays cut their price objective on Corning from $53.00 to $52.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Finally, Bank of America increased their target price on Corning from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.08.

Corning Trading Up 0.1 %

NYSE:GLW opened at $45.08 on Friday. Corning Incorporated has a 52 week low of $34.15 and a 52 week high of $55.33. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.62. The firm’s fifty day moving average is $44.42 and its 200-day moving average is $47.49. The firm has a market cap of $38.61 billion, a P/E ratio of 77.73, a P/E/G ratio of 1.50 and a beta of 1.09.

Corning (NYSE:GLW) last issued its quarterly earnings results on Tuesday, April 29th. The electronics maker reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.63 billion. Corning had a return on equity of 15.10% and a net margin of 3.86%. The business’s revenue was up 12.9% compared to the same quarter last year. During the same period last year, the business posted $0.38 EPS. Equities analysts expect that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Friday, May 30th. Corning’s dividend payout ratio (DPR) is presently 215.38%.

Insiders Place Their Bets

In related news, SVP Michael Alan Bell sold 20,262 shares of the stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $44.06, for a total transaction of $892,743.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.40% of the company’s stock.

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.