Corning Incorporated (NYSE:GLW) Stock Holdings Decreased by Buckingham Capital Management Inc.

Buckingham Capital Management Inc. lowered its stake in Corning Incorporated (NYSE:GLW) by 12.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 46,519 shares of the electronics maker’s stock after selling 6,494 shares during the period. Buckingham Capital Management Inc.’s holdings in Corning were worth $2,211,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of GLW. Wellington Management Group LLP grew its position in shares of Corning by 0.3% during the 3rd quarter. Wellington Management Group LLP now owns 39,225,452 shares of the electronics maker’s stock valued at $1,771,029,000 after buying an additional 133,214 shares during the last quarter. State Street Corp grew its position in shares of Corning by 3.8% during the 3rd quarter. State Street Corp now owns 33,983,090 shares of the electronics maker’s stock valued at $1,534,337,000 after buying an additional 1,242,718 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Corning by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,853,076 shares of the electronics maker’s stock valued at $219,116,000 after buying an additional 38,168 shares during the last quarter. FMR LLC grew its position in shares of Corning by 52.8% during the 3rd quarter. FMR LLC now owns 3,723,044 shares of the electronics maker’s stock valued at $168,095,000 after buying an additional 1,285,836 shares during the last quarter. Finally, Stifel Financial Corp grew its position in shares of Corning by 1.9% during the 3rd quarter. Stifel Financial Corp now owns 2,810,435 shares of the electronics maker’s stock valued at $126,893,000 after buying an additional 52,667 shares during the last quarter. Institutional investors own 69.80% of the company’s stock.

Corning Trading Up 0.9 %

Shares of NYSE:GLW opened at $52.58 on Tuesday. The company has a 50 day moving average of $49.52 and a 200-day moving average of $46.30. The firm has a market cap of $45.02 billion, a P/E ratio of 90.66, a P/E/G ratio of 1.55 and a beta of 1.03. Corning Incorporated has a twelve month low of $30.72 and a twelve month high of $55.33. The company has a current ratio of 1.62, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last released its earnings results on Wednesday, January 29th. The electronics maker reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.01. Corning had a net margin of 3.86% and a return on equity of 15.10%. As a group, analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.13%. Corning’s dividend payout ratio is currently 193.11%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GLW. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Corning from $49.00 to $54.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their target price on shares of Corning from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. UBS Group boosted their target price on shares of Corning from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. HSBC raised shares of Corning from a “hold” rating to a “buy” rating and boosted their target price for the company from $51.00 to $60.00 in a research note on Thursday, January 30th. Finally, Morgan Stanley boosted their target price on shares of Corning from $39.00 to $48.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Corning currently has an average rating of “Moderate Buy” and a consensus price target of $53.00.

Insider Activity

In other Corning news, SVP John P. Bayne, Jr. sold 8,876 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $49.09, for a total value of $435,722.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Michael Alan Bell sold 2,209 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $49.87, for a total transaction of $110,162.83. The disclosure for this sale can be found here. Insiders have sold 46,085 shares of company stock worth $2,345,436 over the last 90 days. 0.40% of the stock is owned by company insiders.

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.