Vontobel Swiss Wealth Advisors AG increased its stake in Corning Incorporated (NYSE:GLW) by 3.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 65,259 shares of the electronics maker’s stock after buying an additional 2,425 shares during the period. Corning accounts for about 1.2% of Vontobel Swiss Wealth Advisors AG’s holdings, making the stock its 26th largest position. Vontobel Swiss Wealth Advisors AG’s holdings in Corning were worth $1,961,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. First National Bank & Trust Co. of Newtown boosted its position in shares of Corning by 2.7% in the first quarter. First National Bank & Trust Co. of Newtown now owns 65,806 shares of the electronics maker’s stock valued at $1,777,000 after buying an additional 1,740 shares during the last quarter. Atria Investments LLC boosted its position in shares of Corning by 26.2% in the first quarter. Atria Investments LLC now owns 26,984 shares of the electronics maker’s stock valued at $729,000 after buying an additional 5,596 shares during the last quarter. BKD Wealth Advisors LLC bought a new position in shares of Corning during the first quarter valued at approximately $213,000. North American Management Corp boosted its position in shares of Corning by 6.3% in the first quarter. North American Management Corp now owns 136,394 shares of the electronics maker’s stock valued at $3,683,000 after buying an additional 8,093 shares during the last quarter. Finally, Capstone Asset Management Co. boosted its position in shares of Corning by 5.3% in the first quarter. Capstone Asset Management Co. now owns 93,093 shares of the electronics maker’s stock valued at $2,514,000 after buying an additional 4,726 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Shares of Corning Incorporated (NYSE:GLW) traded down 1.924% during midday trading on Thursday, hitting $28.795. 3,393,674 shares of the company’s stock traded hands. The company has a 50 day moving average price of $30.31 and a 200 day moving average price of $28.50. Corning Incorporated has a 1-year low of $22.14 and a 1-year high of $32.17. The firm has a market capitalization of $26.01 billion, a price-to-earnings ratio of 12.861 and a beta of 1.40.

Corning (NYSE:GLW) last announced its earnings results on Wednesday, July 26th. The electronics maker reported $0.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.02. Corning had a net margin of 24.16% and a return on equity of 11.67%. The company had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the previous year, the firm posted $0.37 earnings per share. The company’s revenue was up 6.1% on a year-over-year basis. Equities analysts anticipate that Corning Incorporated will post $1.71 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, August 31st will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Tuesday, August 29th. Corning’s dividend payout ratio is presently 27.93%.

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Several research firms recently weighed in on GLW. Drexel Hamilton reiterated a “sell” rating and set a $17.50 price objective on shares of Corning in a research note on Wednesday, July 26th. Jefferies Group LLC reiterated a “hold” rating and set a $27.50 price objective on shares of Corning in a research note on Friday, July 14th. Susquehanna Bancshares Inc reiterated a “positive” rating on shares of Corning in a research note on Thursday, July 13th. Vetr upgraded shares of Corning from a “sell” rating to a “buy” rating and set a $33.69 price objective on the stock in a research note on Wednesday, June 28th. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Corning in a research note on Thursday, July 27th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $27.81.

In other Corning news, insider Lewis A. Steverson sold 30,000 shares of the business’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $29.00, for a total value of $870,000.00. Following the completion of the transaction, the insider now directly owns 3,859 shares of the company’s stock, valued at $111,911. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Wendell P. Weeks sold 153,500 shares of the business’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $29.58, for a total transaction of $4,540,530.00. Following the completion of the transaction, the chief executive officer now directly owns 76,750 shares of the company’s stock, valued at $2,270,265. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 387,700 shares of company stock valued at $11,389,405. Insiders own 0.59% of the company’s stock.

About Corning

Corning Incorporated is engaged in manufacturing specialty glass and ceramics. Its segments include Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, Life Sciences and All Other. The Display Technologies segment manufactures glass substrates for flat panel liquid crystal displays (LCDs).

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Institutional Ownership by Quarter for Corning (NYSE:GLW)

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