Herold Advisors Inc. Sells 500 Shares of Corning Incorporated (NYSE:GLW)

Herold Advisors Inc. trimmed its holdings in shares of Corning Incorporated (NYSE:GLW) by 3.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,850 shares of the electronics maker’s stock after selling 500 shares during the period. Herold Advisors Inc.’s holdings in Corning were worth $483,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of GLW. SG Americas Securities LLC lifted its holdings in shares of Corning by 29.0% in the 3rd quarter. SG Americas Securities LLC now owns 67,794 shares of the electronics maker’s stock worth $2,066,000 after purchasing an additional 15,229 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Corning in the 3rd quarter worth $1,903,000. Koshinski Asset Management Inc. lifted its holdings in shares of Corning by 4.5% in the 3rd quarter. Koshinski Asset Management Inc. now owns 10,512 shares of the electronics maker’s stock worth $320,000 after purchasing an additional 451 shares in the last quarter. Oak Thistle LLC bought a new position in shares of Corning in the 3rd quarter worth $538,000. Finally, Czech National Bank lifted its holdings in shares of Corning by 48.1% in the 3rd quarter. Czech National Bank now owns 134,175 shares of the electronics maker’s stock worth $4,088,000 after purchasing an additional 43,601 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors.

Insider Transactions at Corning

In other news, Vice Chairman Lawrence D. Mcrae sold 77,464 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $33.24, for a total transaction of $2,574,903.36. Following the completion of the transaction, the insider now owns 215,254 shares of the company’s stock, valued at $7,155,042.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.40% of the stock is owned by insiders.

Corning Stock Performance

Corning stock traded down $0.02 during midday trading on Friday, reaching $31.33. The stock had a trading volume of 3,689,904 shares, compared to its average volume of 4,675,680. The firm’s 50-day moving average price is $32.28 and its 200 day moving average price is $30.45. Corning Incorporated has a 12 month low of $25.26 and a 12 month high of $36.01. The firm has a market capitalization of $26.80 billion, a PE ratio of 46.76, a P/E/G ratio of 1.74 and a beta of 1.08. The company has a quick ratio of 1.05, a current ratio of 1.67 and a debt-to-equity ratio of 0.61.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, January 30th. The electronics maker reported $0.39 earnings per share for the quarter, meeting the consensus estimate of $0.39. Corning had a return on equity of 12.31% and a net margin of 4.62%. The firm had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same period in the prior year, the business posted $0.47 earnings per share. The company’s revenue was down 12.1% on a year-over-year basis. As a group, research analysts predict that Corning Incorporated will post 1.87 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. Stockholders of record on Thursday, February 29th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 3.57%. The ex-dividend date was Wednesday, February 28th. Corning’s payout ratio is 167.16%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on GLW shares. StockNews.com upgraded Corning from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Susquehanna restated a “positive” rating and set a $40.00 price objective on shares of Corning in a research note on Monday, April 1st. Morgan Stanley restated an “overweight” rating and set a $35.00 price objective on shares of Corning in a research note on Monday. UBS Group raised their price objective on Corning from $34.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Finally, JPMorgan Chase & Co. raised their price objective on Corning from $34.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $34.78.

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.