Bryn Mawr Capital Management LLC Has $1.93 Million Stock Holdings in Corning Incorporated (NYSE:GLW)

Bryn Mawr Capital Management LLC grew its stake in shares of Corning Incorporated (NYSE:GLW) by 134.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,528 shares of the electronics maker’s stock after purchasing an additional 23,257 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Corning were worth $1,926,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in GLW. Allspring Global Investments Holdings LLC boosted its holdings in Corning by 7.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 40,214 shares of the electronics maker’s stock worth $1,816,000 after acquiring an additional 2,702 shares in the last quarter. Whittier Trust Co. raised its position in shares of Corning by 4.6% during the third quarter. Whittier Trust Co. now owns 19,603 shares of the electronics maker’s stock worth $885,000 after purchasing an additional 863 shares during the period. Eastern Bank bought a new position in shares of Corning in the 3rd quarter worth $118,000. International Assets Investment Management LLC grew its position in Corning by 1,780.0% in the 3rd quarter. International Assets Investment Management LLC now owns 248,009 shares of the electronics maker’s stock valued at $11,198,000 after purchasing an additional 234,817 shares during the period. Finally, Hennion & Walsh Asset Management Inc. bought a new stake in Corning during the 3rd quarter valued at $269,000. Institutional investors own 69.80% of the company’s stock.

Insider Buying and Selling at Corning

In other news, SVP John P. Bayne, Jr. sold 8,876 shares of Corning stock in a transaction on Monday, November 25th. The stock was sold at an average price of $49.09, for a total value of $435,722.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Eric S. Musser sold 30,000 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $51.92, for a total value of $1,557,600.00. Following the sale, the chief operating officer now owns 152,944 shares in the company, valued at approximately $7,940,852.48. The trade was a 16.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,085 shares of company stock valued at $2,103,486 in the last 90 days. 0.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Hsbc Global Res raised shares of Corning from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 30th. HSBC raised shares of Corning from a “hold” rating to a “buy” rating and raised their price target for the company from $51.00 to $60.00 in a research report on Thursday, January 30th. Citigroup boosted their price objective on Corning from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Barclays dropped their target price on Corning from $53.00 to $52.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Corning from $49.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.00.

Corning Stock Performance

NYSE:GLW opened at $51.87 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.62 and a quick ratio of 1.07. The company has a market capitalization of $44.43 billion, a P/E ratio of 89.42, a P/E/G ratio of 1.53 and a beta of 1.03. Corning Incorporated has a 1 year low of $30.72 and a 1 year high of $55.33. The business has a fifty day simple moving average of $49.79 and a two-hundred day simple moving average of $46.58.

Corning (NYSE:GLW) last released its quarterly earnings data on Wednesday, January 29th. The electronics maker reported $0.57 EPS for the quarter, beating the consensus estimate of $0.56 by $0.01. Corning had a net margin of 3.86% and a return on equity of 15.10%. On average, analysts expect that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be paid a $0.28 dividend. The ex-dividend date is Friday, February 28th. This represents a $1.12 dividend on an annualized basis and a yield of 2.16%. Corning’s dividend payout ratio is 193.10%.

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.