Hudson Value Partners LLC Increases Position in Corning Incorporated (NYSE:GLW)

Hudson Value Partners LLC raised its stake in shares of Corning Incorporated (NYSE:GLW) by 5.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,552 shares of the electronics maker’s stock after purchasing an additional 5,699 shares during the quarter. Corning comprises 2.0% of Hudson Value Partners LLC’s holdings, making the stock its 18th biggest position. Hudson Value Partners LLC’s holdings in Corning were worth $5,082,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. City Holding Co. lifted its holdings in shares of Corning by 545.5% during the third quarter. City Holding Co. now owns 710 shares of the electronics maker’s stock worth $32,000 after purchasing an additional 600 shares during the period. Global Trust Asset Management LLC raised its position in Corning by 2,250.0% during the 3rd quarter. Global Trust Asset Management LLC now owns 940 shares of the electronics maker’s stock worth $42,000 after buying an additional 900 shares during the last quarter. ESL Trust Services LLC acquired a new stake in Corning during the 1st quarter valued at approximately $33,000. Accordant Advisory Group Inc acquired a new stake in Corning during the 2nd quarter valued at approximately $39,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of Corning in the 3rd quarter valued at $45,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. StockNews.com upgraded Corning from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Bank of America lifted their price target on Corning from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Susquehanna upped their price objective on Corning from $46.00 to $55.00 and gave the stock a “positive” rating in a research report on Friday, September 20th. Oppenheimer reaffirmed an “outperform” rating and set a $58.00 target price (up from $51.00) on shares of Corning in a report on Wednesday, October 30th. Finally, Citigroup boosted their target price on shares of Corning from $45.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $50.08.

Corning Stock Down 0.0 %

Shares of GLW opened at $48.23 on Friday. The stock has a 50 day moving average price of $44.83 and a 200 day moving average price of $40.75. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.05 and a current ratio of 1.66. The stock has a market capitalization of $41.29 billion, a price-to-earnings ratio of 283.68, a PEG ratio of 1.54 and a beta of 1.03. Corning Incorporated has a one year low of $26.94 and a one year high of $51.03.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, October 29th. The electronics maker reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. The business had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Corning had a net margin of 1.24% and a return on equity of 13.45%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.45 earnings per share. Equities research analysts forecast that Corning Incorporated will post 1.95 earnings per share for the current fiscal year.

Corning Announces Dividend

The business 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 dividend payout ratio (DPR) is presently 658.82%.

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.