J. W. Coons Advisors LLC Sells 10,000 Shares of Corning Incorporated (NYSE:GLW)

J. W. Coons Advisors LLC reduced its position in Corning Incorporated (NYSE:GLW) by 13.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,550 shares of the electronics maker’s stock after selling 10,000 shares during the quarter. J. W. Coons Advisors LLC’s holdings in Corning were worth $2,972,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of GLW. FMR LLC raised its stake in Corning by 52.8% in the third quarter. FMR LLC now owns 3,723,044 shares of the electronics maker’s stock valued at $168,095,000 after purchasing an additional 1,285,836 shares in the last quarter. State Street Corp raised its stake in Corning by 3.8% in the third quarter. State Street Corp now owns 33,983,090 shares of the electronics maker’s stock valued at $1,534,337,000 after purchasing an additional 1,242,718 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in Corning by 215.6% in the third quarter. Los Angeles Capital Management LLC now owns 1,677,513 shares of the electronics maker’s stock valued at $75,740,000 after purchasing an additional 1,145,955 shares in the last quarter. Pathway Financial Advisers LLC raised its stake in Corning by 4,306.9% in the third quarter. Pathway Financial Advisers LLC now owns 1,050,463 shares of the electronics maker’s stock valued at $47,428,000 after purchasing an additional 1,026,626 shares in the last quarter. Finally, Conning Inc. raised its stake in shares of Corning by 14,556.8% during the third quarter. Conning Inc. now owns 881,019 shares of the electronics maker’s stock worth $39,778,000 after acquiring an additional 875,008 shares in the last quarter. 69.80% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Corning

In other news, COO Eric S. Musser sold 30,000 shares of Corning stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $51.92, for a total value of $1,557,600.00. Following the completion of the transaction, the chief operating officer now owns 152,944 shares of the company’s stock, valued at $7,940,852.48. The trade was a 16.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael Alan Bell sold 2,209 shares of Corning stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $49.87, for a total value of $110,162.83. The disclosure for this sale can be found here. 0.40% of the stock is owned by insiders.

Corning Stock Performance

Shares of GLW stock opened at $51.46 on Monday. Corning Incorporated has a 12 month low of $30.72 and a 12 month high of $55.33. The stock has a market cap of $44.08 billion, a PE ratio of 88.72, a price-to-earnings-growth ratio of 1.50 and a beta of 1.03. The company has a current ratio of 1.62, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62. The company’s fifty day moving average price is $49.92 and its 200-day moving average price is $46.77.

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

Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Friday, February 28th. Corning’s dividend payout ratio is presently 193.11%.

Analyst Upgrades and Downgrades

Several research analysts have commented on GLW shares. Citigroup lifted their price target on shares of Corning from $55.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. JPMorgan Chase & Co. lifted their price target on shares of Corning from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Hsbc Global Res raised shares of Corning from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 30th. Morgan Stanley lifted their price target on shares of Corning from $39.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. Finally, StockNews.com raised shares of Corning from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Corning has an average rating of “Moderate Buy” and an average target price of $53.00.

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.