Corning Incorporated (NYSE:GLW) Shares Sold by Clarius Group LLC

Clarius Group LLC decreased its stake in Corning Incorporated (NYSE:GLW) by 5.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,612 shares of the electronics maker’s stock after selling 474 shares during the period. Clarius Group LLC’s holdings in Corning were worth $262,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Natixis Advisors L.P. boosted its holdings in shares of Corning by 5.9% in the 3rd quarter. Natixis Advisors L.P. now owns 101,322 shares of the electronics maker’s stock valued at $3,087,000 after buying an additional 5,616 shares in the last quarter. KMG Fiduciary Partners LLC purchased a new stake in Corning in the 4th quarter valued at $1,199,000. HB Wealth Management LLC raised its position in Corning by 24.2% in the 4th quarter. HB Wealth Management LLC now owns 9,871 shares of the electronics maker’s stock valued at $301,000 after purchasing an additional 1,926 shares during the last quarter. SG Americas Securities LLC raised its position in Corning by 59.8% in the 4th quarter. SG Americas Securities LLC now owns 108,358 shares of the electronics maker’s stock valued at $3,300,000 after purchasing an additional 40,564 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Corning by 6.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 7,883,126 shares of the electronics maker’s stock valued at $240,199,000 after purchasing an additional 490,638 shares during the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Susquehanna reiterated a “positive” rating and issued a $40.00 price target on shares of Corning in a research report on Monday, April 1st. Barclays upped their price target on shares of Corning from $28.00 to $35.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 31st. JPMorgan Chase & Co. upped their price target on shares of Corning from $34.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. UBS Group upped their price target on shares of Corning from $34.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Finally, HSBC downgraded shares of Corning from a “hold” rating to a “reduce” rating and set a $29.00 price objective for the company. in a research report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Corning presently has a consensus rating of “Hold” and a consensus target price of $34.56.

Insider Activity at Corning

In related news, Vice Chairman Lawrence D. Mcrae sold 77,464 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $33.24, for a total value of $2,574,903.36. Following the sale, the insider now directly owns 215,254 shares of the company’s stock, valued at approximately $7,155,042.96. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.45% of the stock is owned by corporate insiders.

Corning Stock Performance

Shares of GLW opened at $31.29 on Tuesday. The company has a 50-day simple moving average of $32.38 and a 200-day simple moving average of $30.37. The company has a quick ratio of 1.05, a current ratio of 1.67 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $26.76 billion, a PE ratio of 46.69, a P/E/G ratio of 1.79 and a beta of 1.08. Corning Incorporated has a 52-week low of $25.26 and a 52-week high of $36.01.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, January 30th. The electronics maker reported $0.39 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.39. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.26 billion. Corning had a net margin of 4.62% and a return on equity of 12.31%. The business’s revenue was down 12.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.47 EPS. Equities research analysts predict that Corning Incorporated will post 1.86 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 29th were paid a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.12 dividend on an annualized basis and a yield of 3.58%. Corning’s payout ratio is 167.16%.

Corning Company 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.