Gamco Investors INC. ET AL Has $13.48 Million Holdings in Corning Incorporated (NYSE:GLW)

Gamco Investors INC. ET AL grew its position in Corning Incorporated (NYSE:GLWGet Rating) by 4.7% during the 4th quarter, HoldingsChannel reports. The firm owned 361,978 shares of the electronics maker’s stock after purchasing an additional 16,217 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Corning were worth $13,476,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Blue Bell Private Wealth Management LLC acquired a new position in Corning in the 4th quarter worth $28,000. Vigilant Capital Management LLC acquired a new position in shares of Corning during the 4th quarter worth about $34,000. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Corning during the 3rd quarter worth about $36,000. Future Financial Wealth Managment LLC acquired a new position in shares of Corning during the 4th quarter worth about $37,000. Finally, Desjardins Global Asset Management Inc. acquired a new position in shares of Corning during the 4th quarter worth about $37,000. Institutional investors and hedge funds own 68.71% of the company’s stock.

In other Corning news, VP Michael Alan Bell sold 12,529 shares of the company’s stock in a transaction dated Friday, April 1st. The stock was sold at an average price of $36.24, for a total value of $454,050.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert P. France sold 2,190 shares of the company’s stock in a transaction dated Wednesday, April 20th. The stock was sold at an average price of $35.03, for a total value of $76,715.70. Following the completion of the transaction, the vice president now directly owns 30,000 shares of the company’s stock, valued at approximately $1,050,900. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by insiders.

A number of research firms have recently commented on GLW. JPMorgan Chase & Co. increased their price objective on shares of Corning from $45.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, January 27th. Susquehanna Bancshares upgraded shares of Corning from a “neutral” rating to a “positive” rating and increased their price objective for the stock from $38.00 to $50.00 in a research note on Friday, January 28th. Barclays downgraded Corning from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $53.00 to $38.00 in a research note on Wednesday, May 11th. Citigroup reduced their target price on Corning from $47.00 to $46.00 and set a “buy” rating for the company in a research note on Thursday, January 27th. Finally, Susquehanna upgraded Corning from a “neutral” rating to a “positive” rating and lifted their target price for the stock from $38.00 to $50.00 in a research note on Friday, January 28th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $46.00.

Shares of NYSE GLW opened at $33.13 on Friday. The stock has a market capitalization of $27.98 billion, a PE ratio of 26.50, a P/E/G ratio of 2.28 and a beta of 0.92. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.55 and a quick ratio of 1.04. The business has a fifty day moving average price of $35.82 and a two-hundred day moving average price of $37.63. Corning Incorporated has a fifty-two week low of $32.24 and a fifty-two week high of $44.30.

Corning (NYSE:GLWGet Rating) last announced its quarterly earnings data on Tuesday, April 26th. The electronics maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.04. Corning had a return on equity of 21.56% and a net margin of 13.05%. The firm had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.55 billion. During the same period in the previous year, the firm earned $0.45 EPS. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. On average, equities analysts expect that Corning Incorporated will post 2.36 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 29th. Stockholders of record on Tuesday, May 31st will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, May 27th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.26%. Corning’s dividend payout ratio (DPR) is currently 86.40%.

Corning Profile (Get Rating)

Corning Incorporated engages in display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses worldwide. The company's Display Technologies segment offers glass substrates for liquid crystal displays and organic light-emitting diodes used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.

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Institutional Ownership by Quarter for Corning (NYSE:GLW)

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