Motley Fool Asset Management LLC Sells 1,436 Shares of Corning Incorporated (NYSE:GLW)

Motley Fool Asset Management LLC lowered its holdings in shares of Corning Incorporated (NYSE:GLW) by 9.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,827 shares of the electronics maker’s stock after selling 1,436 shares during the period. Motley Fool Asset Management LLC’s holdings in Corning were worth $421,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Peoples Bank KS bought a new position in shares of Corning during the third quarter valued at $25,000. OFI Invest Asset Management bought a new stake in Corning during the 3rd quarter valued at about $25,000. SRS Capital Advisors Inc. raised its holdings in Corning by 232.9% in the third quarter. SRS Capital Advisors Inc. now owns 932 shares of the electronics maker’s stock worth $28,000 after buying an additional 652 shares during the last quarter. Bruce G. Allen Investments LLC bought a new position in shares of Corning in the fourth quarter worth approximately $31,000. Finally, Emfo LLC purchased a new stake in shares of Corning during the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Insiders Place Their Bets

In other news, Vice Chairman Lawrence D. Mcrae sold 77,464 shares of the stock in a transaction 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 completion of the sale, the insider now directly owns 215,254 shares of the company’s stock, valued at $7,155,042.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.40% of the stock is owned by company insiders.

Corning Stock Down 0.1 %

GLW opened at $31.33 on Friday. Corning Incorporated has a 1-year low of $25.26 and a 1-year high of $36.01. The firm’s 50 day simple moving average is $32.28 and its two-hundred day simple moving average is $30.45. The company has a current ratio of 1.67, a quick ratio of 1.05 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $26.80 billion, a PE ratio of 46.76, a PEG ratio of 1.74 and a beta of 1.08.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, January 30th. The electronics maker reported $0.39 EPS for the quarter, hitting analysts’ consensus estimates of $0.39. The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Corning had a return on equity of 12.31% and a net margin of 4.62%. Corning’s revenue for the quarter was down 12.1% compared to the same quarter last year. During the same period last year, the firm earned $0.47 EPS. As a group, equities analysts forecast that Corning Incorporated will post 1.87 EPS for the current year.

Corning Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 29th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 3.57%. The ex-dividend date was Wednesday, February 28th. Corning’s dividend payout ratio is 167.16%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on GLW shares. Susquehanna restated a “positive” rating and issued a $40.00 price objective on shares of Corning in a report on Monday, April 1st. HSBC cut Corning from a “hold” rating to a “reduce” rating and set a $29.00 price target for the company. in a research note on Thursday, February 1st. JPMorgan Chase & Co. increased their price objective on Corning from $34.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. StockNews.com raised Corning from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. Finally, 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 note on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Corning presently has an average rating of “Hold” and an average target price of $34.78.

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.