21,931 Shares in Corning Incorporated (NYSE:GLW) Acquired by Jackson Square Capital LLC

Jackson Square Capital LLC purchased a new position in shares of Corning Incorporated (NYSE:GLW) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 21,931 shares of the electronics maker’s stock, valued at approximately $990,000.

A number of other large investors have also bought and sold shares of the business. MBB Public Markets I LLC lifted its holdings in Corning by 806.7% during the 2nd quarter. MBB Public Markets I LLC now owns 64,965 shares of the electronics maker’s stock worth $2,524,000 after buying an additional 57,800 shares in the last quarter. Dark Forest Capital Management LP bought a new stake in shares of Corning in the 2nd quarter valued at $511,000. National Pension Service increased its position in shares of Corning by 11.3% in the 3rd quarter. National Pension Service now owns 1,508,868 shares of the electronics maker’s stock valued at $68,125,000 after buying an additional 152,922 shares in the last quarter. Raymond James & Associates increased its position in shares of Corning by 2.6% in the 2nd quarter. Raymond James & Associates now owns 1,664,540 shares of the electronics maker’s stock valued at $64,667,000 after buying an additional 42,818 shares in the last quarter. Finally, Empowered Funds LLC increased its position in shares of Corning by 35.4% in the 1st quarter. Empowered Funds LLC now owns 19,431 shares of the electronics maker’s stock valued at $640,000 after buying an additional 5,081 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors.

Corning Trading Up 2.0 %

Shares of GLW stock opened at $48.24 on Thursday. The firm has a 50 day moving average price of $44.83 and a two-hundred day moving average price of $40.75. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $41.30 billion, a PE ratio of 283.76, a price-to-earnings-growth ratio of 1.51 and a beta of 1.03. Corning Incorporated has a 12-month low of $26.94 and a 12-month high of $51.03.

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

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be given a $0.28 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.32%. Corning’s payout ratio is 658.82%.

Analysts Set New Price Targets

GLW has been the subject of a number of research reports. Oppenheimer reiterated an “outperform” rating and set a $58.00 target price (up previously from $51.00) on shares of Corning in a report on Wednesday, October 30th. UBS Group increased their target price on Corning from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Susquehanna increased their target price on Corning from $46.00 to $55.00 and gave the stock a “positive” rating in a report on Friday, September 20th. Citigroup raised their price objective on Corning from $45.00 to $51.00 and gave the company a “buy” rating in a report on Friday, July 12th. Finally, Barclays raised their price objective on Corning from $40.00 to $53.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $50.08.

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.