Thompson Davis & CO. Inc. Has $389,000 Stock Position in Corning Incorporated (NYSE:GLW)

Thompson Davis & CO. Inc. lifted its holdings in shares of Corning Incorporated (NYSE:GLW) by 26.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,177 shares of the electronics maker’s stock after buying an additional 1,702 shares during the period. Thompson Davis & CO. Inc.’s holdings in Corning were worth $389,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Deseret Mutual Benefit Administrators grew its position in Corning by 3.7% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 6,226 shares of the electronics maker’s stock worth $296,000 after acquiring an additional 221 shares during the last quarter. Allianz Asset Management GmbH grew its position in Corning by 66.7% during the 4th quarter. Allianz Asset Management GmbH now owns 611,982 shares of the electronics maker’s stock worth $29,081,000 after acquiring an additional 244,788 shares during the last quarter. Aspen Investment Management Inc grew its position in Corning by 388.2% during the 4th quarter. Aspen Investment Management Inc now owns 23,873 shares of the electronics maker’s stock worth $1,134,000 after acquiring an additional 18,983 shares during the last quarter. ING Groep NV grew its position in Corning by 12.0% during the 4th quarter. ING Groep NV now owns 282,420 shares of the electronics maker’s stock worth $13,421,000 after acquiring an additional 30,322 shares during the last quarter. Finally, Boston Financial Mangement LLC bought a new stake in Corning during the 4th quarter worth $386,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insider Buying and Selling

In other Corning news, SVP Michael Alan Bell sold 2,209 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $49.87, for a total transaction of $110,162.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Eric S. Musser sold 30,000 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $51.92, for a total value of $1,557,600.00. Following the completion of the transaction, the chief operating officer now directly owns 152,944 shares of the company’s stock, valued at $7,940,852.48. The trade was a 16.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,085 shares of company stock valued at $2,103,486. 0.40% of the stock is owned by company insiders.

Corning Stock Down 0.8 %

Shares of Corning stock opened at $51.46 on Friday. Corning Incorporated has a one year low of $30.72 and a one year high of $55.33. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.62 and a quick ratio of 1.07. The stock’s 50-day moving average is $49.85 and its 200 day moving average is $46.61. The firm has a market cap of $44.08 billion, a price-to-earnings ratio of 88.72, a PEG ratio of 1.50 and a beta of 1.03.

Corning (NYSE:GLW) last announced its earnings results on Wednesday, January 29th. The electronics maker reported $0.57 EPS for the quarter, beating the consensus estimate of $0.56 by $0.01. Corning had a return on equity of 15.10% and a net margin of 3.86%. Equities research analysts anticipate that Corning Incorporated will post 2.33 EPS for the current year.

Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Friday, February 28th. Corning’s dividend payout ratio (DPR) is currently 193.11%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GLW. UBS Group boosted their price objective on Corning from $46.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Citigroup boosted their price objective on Corning from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Oppenheimer reiterated 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. Hsbc Global Res upgraded Corning from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 30th. Finally, HSBC upgraded Corning from a “hold” rating to a “buy” rating and upped their price target for the company from $51.00 to $60.00 in a research report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Corning currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.00.

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.