Aptus Capital Advisors LLC Has $347,000 Stock Holdings in Corning Incorporated (NYSE:GLW)

Aptus Capital Advisors LLC raised its holdings in Corning Incorporated (NYSE:GLW) by 16.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,696 shares of the electronics maker’s stock after acquiring an additional 1,115 shares during the quarter. Aptus Capital Advisors LLC’s holdings in Corning were worth $347,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in GLW. City Holding Co. lifted its stake in Corning by 545.5% in the third quarter. City Holding Co. now owns 710 shares of the electronics maker’s stock valued at $32,000 after acquiring an additional 600 shares during the last quarter. ESL Trust Services LLC acquired a new stake in Corning in the first quarter valued at approximately $33,000. Accordant Advisory Group Inc acquired a new stake in Corning in the second quarter valued at approximately $39,000. Global Trust Asset Management LLC raised its position in shares of Corning by 2,250.0% in the third quarter. Global Trust Asset Management LLC now owns 940 shares of the electronics maker’s stock valued at $42,000 after purchasing an additional 900 shares during the period. Finally, Future Financial Wealth Managment LLC bought a new position in shares of Corning in the third quarter valued at approximately $45,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Trading Down 0.6 %

Shares of Corning stock opened at $46.49 on Friday. The firm has a market capitalization of $39.81 billion, a PE ratio of 273.47, a price-to-earnings-growth ratio of 1.51 and a beta of 1.03. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.66 and a quick ratio of 1.05. The company’s fifty day moving average price is $45.63 and its two-hundred day moving average price is $41.37. Corning Incorporated has a 52-week low of $27.57 and a 52-week high of $51.03.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, October 29th. The electronics maker reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.01. The firm had revenue of $3.39 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.45 EPS. On average, analysts expect that Corning Incorporated will post 1.95 EPS for the current year.

Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be paid a $0.28 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.12 annualized dividend and a dividend yield of 2.41%. Corning’s dividend payout ratio is presently 658.82%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GLW shares. Bank of America lifted their price target on shares of Corning from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Oppenheimer reissued an “outperform” rating and issued a $58.00 price target (up previously from $51.00) on shares of Corning in a research report on Wednesday, October 30th. Morgan Stanley reissued an “equal weight” rating and issued a $39.00 price target on shares of Corning in a research report on Friday, July 26th. StockNews.com raised shares of Corning from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Corning from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Corning has an average rating of “Moderate Buy” and an average target price of $50.08.

Corning 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.