Corning Incorporated (NYSE:GLW) Shares Sold by V Square Quantitative Management LLC

V Square Quantitative Management LLC cut its stake in Corning Incorporated (NYSE:GLW) by 7.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,144 shares of the electronics maker’s stock after selling 766 shares during the period. V Square Quantitative Management LLC’s holdings in Corning were worth $435,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of GLW. Northstar Advisory Group LLC grew its holdings in shares of Corning by 258.4% during the fourth quarter. Northstar Advisory Group LLC now owns 123,808 shares of the electronics maker’s stock valued at $5,883,000 after buying an additional 89,268 shares during the last quarter. Franklin Resources Inc. lifted its position in Corning by 48.4% during the 3rd quarter. Franklin Resources Inc. now owns 191,648 shares of the electronics maker’s stock worth $8,975,000 after acquiring an additional 62,514 shares during the period. FMR LLC grew its stake in 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 purchasing an additional 1,285,836 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of Corning by 16.8% in the fourth quarter. Fifth Third Bancorp now owns 111,448 shares of the electronics maker’s stock valued at $5,296,000 after purchasing an additional 16,001 shares during the period. Finally, First Financial Bank Trust Division raised its stake in shares of Corning by 27.5% in the fourth quarter. First Financial Bank Trust Division now owns 138,153 shares of the electronics maker’s stock worth $6,565,000 after purchasing an additional 29,790 shares during the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. StockNews.com upgraded Corning from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. UBS Group upped their price objective on shares of Corning from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. HSBC raised shares of Corning from a “hold” rating to a “buy” rating and raised their target price for the stock from $51.00 to $60.00 in a report on Thursday, January 30th. Morgan Stanley upped their price target on shares of Corning from $39.00 to $48.00 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Corning from $49.00 to $54.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Three investment 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 company’s stock. According to data from MarketBeat.com, Corning has a consensus rating of “Moderate Buy” and a consensus price target of $53.00.

Insider Activity at Corning

In other Corning news, SVP Michael Alan Bell sold 2,209 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $49.87, for a total value of $110,162.83. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP John P. Bayne, Jr. sold 5,000 shares of Corning stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $48.39, for a total transaction of $241,950.00. Following the sale, the senior vice president now directly owns 6,700 shares in the company, valued at approximately $324,213. This trade represents a 42.74 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,085 shares of company stock valued at $2,345,436. 0.40% of the stock is owned by corporate insiders.

Corning Stock Performance

Shares of GLW stock opened at $52.58 on Friday. The company has a market capitalization 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 12-month low of $30.72 and a 12-month high of $55.33. The business’s 50 day moving average is $49.52 and its two-hundred day moving average is $46.23. 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 quarterly earnings results on Wednesday, January 29th. The electronics maker reported $0.57 earnings per share (EPS) for the quarter, beating 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%. Analysts expect that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, February 28th. This represents a $1.12 annualized dividend and a dividend yield of 2.13%. Corning’s dividend payout ratio (DPR) is presently 193.11%.

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.