Corning Incorporated (NYSE:GLW) Shares Sold by Campbell Newman Asset Management Inc.

Campbell Newman Asset Management Inc. trimmed its holdings in shares of Corning Incorporated (NYSE:GLW) by 29.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 51,624 shares of the electronics maker’s stock after selling 21,428 shares during the period. Campbell Newman Asset Management Inc.’s holdings in Corning were worth $1,572,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Federated Hermes Inc. boosted its position in shares of Corning by 5.7% during the 3rd quarter. Federated Hermes Inc. now owns 6,079 shares of the electronics maker’s stock valued at $176,000 after acquiring an additional 328 shares during the last quarter. Harvest Investment Advisors LLC boosted its position in shares of Corning by 0.9% during the 2nd quarter. Harvest Investment Advisors LLC now owns 35,922 shares of the electronics maker’s stock valued at $1,259,000 after acquiring an additional 335 shares during the last quarter. Resurgent Financial Advisors LLC boosted its position in shares of Corning by 8.8% during the 2nd quarter. Resurgent Financial Advisors LLC now owns 4,157 shares of the electronics maker’s stock valued at $146,000 after acquiring an additional 337 shares during the last quarter. 1620 Investment Advisors Inc. boosted its position in shares of Corning by 2.5% during the 2nd quarter. 1620 Investment Advisors Inc. now owns 14,014 shares of the electronics maker’s stock valued at $491,000 after acquiring an additional 347 shares during the last quarter. Finally, Smith Moore & CO. boosted its position in shares of Corning by 2.5% during the 1st quarter. Smith Moore & CO. now owns 14,583 shares of the electronics maker’s stock valued at $514,000 after acquiring an additional 350 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Stock Up 0.5 %

GLW stock opened at $32.54 on Friday. The company’s 50 day moving average price is $32.38 and its 200 day moving average price is $30.33. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.05 and a current ratio of 1.67. Corning Incorporated has a fifty-two week low of $25.26 and a fifty-two week high of $36.01. The firm has a market capitalization of $27.83 billion, a price-to-earnings ratio of 48.57, a PEG ratio of 1.84 and a beta of 1.08.

Corning (NYSE:GLW) last released its earnings results on Tuesday, January 30th. The electronics maker reported $0.39 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.39. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $3.26 billion. Corning had a net margin of 4.62% and a return on equity of 12.31%. The business’s quarterly revenue was down 12.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.47 earnings per share. On average, equities research analysts anticipate that Corning Incorporated will post 1.86 EPS for the current fiscal year.

Corning Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 29th were paid a $0.28 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $1.12 annualized dividend and a yield of 3.44%. Corning’s dividend payout ratio is currently 167.16%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Susquehanna reissued a “positive” rating and set a $40.00 price target on shares of Corning in a research report on Monday, April 1st. HSBC cut shares of Corning from a “hold” rating to a “reduce” rating and set a $29.00 target price on the stock. in a research report on Thursday, February 1st. UBS Group upped their target price on shares of Corning from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, January 11th. Barclays upped their target price 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. Finally, StockNews.com raised shares of Corning from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $33.67.

Insider Buying and Selling at Corning

In other Corning news, Vice Chairman Lawrence D. Mcrae sold 77,464 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 215,254 shares in the company, valued at $7,155,042.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.40% of the stock is currently owned by insiders.

About Corning

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.