Corning Incorporated (GLW) Shares Bought by Oak Associates Ltd. OH

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Oak Associates Ltd. OH increased its holdings in shares of Corning Incorporated (NYSE:GLW) by 2.1% in the first quarter, HoldingsChannel.com reports. The firm owned 245,309 shares of the electronics maker’s stock after buying an additional 5,001 shares during the period. Oak Associates Ltd. OH’s holdings in Corning were worth $8,120,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Vectors Research Management LLC boosted its holdings in shares of Corning by 16.5% during the fourth quarter. Vectors Research Management LLC now owns 2,120 shares of the electronics maker’s stock worth $64,000 after acquiring an additional 300 shares during the period. OLD Dominion Capital Management Inc. boosted its holdings in shares of Corning by 1.3% during the fourth quarter. OLD Dominion Capital Management Inc. now owns 24,928 shares of the electronics maker’s stock worth $753,000 after acquiring an additional 324 shares during the period. Huntington National Bank boosted its holdings in shares of Corning by 1.5% during the fourth quarter. Huntington National Bank now owns 23,045 shares of the electronics maker’s stock worth $696,000 after acquiring an additional 334 shares during the period. Clifford Swan Investment Counsel LLC boosted its holdings in shares of Corning by 3.9% during the fourth quarter. Clifford Swan Investment Counsel LLC now owns 8,938 shares of the electronics maker’s stock worth $270,000 after acquiring an additional 338 shares during the period. Finally, Scotia Capital Inc. boosted its holdings in shares of Corning by 0.4% during the fourth quarter. Scotia Capital Inc. now owns 83,258 shares of the electronics maker’s stock worth $2,515,000 after acquiring an additional 343 shares during the period. Institutional investors and hedge funds own 70.97% of the company’s stock.

Shares of GLW stock opened at $29.70 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.08 and a quick ratio of 1.36. The company has a market capitalization of $23.31 billion, a P/E ratio of 16.69, a P/E/G ratio of 1.58 and a beta of 1.12. Corning Incorporated has a 1 year low of $26.23 and a 1 year high of $36.56.

Corning (NYSE:GLW) last issued its quarterly earnings results on Tuesday, April 30th. The electronics maker reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.01. The business had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.81 billion. Corning had a return on equity of 15.02% and a net margin of 18.57%. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.31 earnings per share. As a group, analysts predict that Corning Incorporated will post 1.97 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend is Thursday, May 30th. Corning’s dividend payout ratio (DPR) is currently 44.94%.

A number of equities research analysts have recently issued reports on GLW shares. Bank of America upgraded Corning from a “neutral” rating to a “buy” rating and set a $32.31 price objective for the company in a report on Wednesday, May 1st. ValuEngine upgraded Corning from a “hold” rating to a “buy” rating in a report on Tuesday, January 29th. Finally, Zacks Investment Research upgraded Corning from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $35.41.

In related news, VP David L. Morse sold 36,664 shares of the business’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $35.00, for a total value of $1,283,240.00. Following the completion of the sale, the vice president now directly owns 47,527 shares in the company, valued at $1,663,445. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.46% of the company’s stock.

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Corning Company Profile

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

Further Reading: Why are percentage gainers important?

Want to see what other hedge funds are holding GLW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corning Incorporated (NYSE:GLW).

Institutional Ownership by Quarter for Corning (NYSE:GLW)

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