LS Investment Advisors LLC decreased its position in shares of Corning Incorporated (NYSE:GLW) by 11.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 22,088 shares of the electronics maker’s stock after selling 2,861 shares during the quarter. LS Investment Advisors LLC’s holdings in Corning were worth $707,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of GLW. Benjamin F. Edwards & Company Inc. grew its position in shares of Corning by 241.6% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 3,747 shares of the electronics maker’s stock worth $112,000 after buying an additional 2,650 shares in the last quarter. Motco grew its position in shares of Corning by 150.4% during the 4th quarter. Motco now owns 3,538 shares of the electronics maker’s stock worth $113,000 after buying an additional 2,125 shares in the last quarter. Cable Hill Partners LLC grew its position in shares of Corning by 1,041.3% during the 3rd quarter. Cable Hill Partners LLC now owns 5,273 shares of the electronics maker’s stock worth $158,000 after buying an additional 4,811 shares in the last quarter. Bank of Nova Scotia Trust Co. bought a new position in shares of Corning during the 3rd quarter worth $163,000. Finally, Resources Investment Advisors Inc. grew its position in shares of Corning by 611.0% during the 4th quarter. Resources Investment Advisors Inc. now owns 5,190 shares of the electronics maker’s stock worth $166,000 after buying an additional 4,460 shares in the last quarter. 71.82% of the stock is currently owned by institutional investors and hedge funds.

Shares of Corning Incorporated (GLW) opened at $29.52 on Thursday. Corning Incorporated has a 12-month low of $26.32 and a 12-month high of $35.10. The firm has a market capitalization of $25,411.24, a PE ratio of 16.90, a P/E/G ratio of 4.37 and a beta of 1.34. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.22 and a current ratio of 2.75.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, January 30th. The electronics maker reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. Corning had a positive return on equity of 11.62% and a negative net margin of 4.91%. The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same period last year, the business posted $0.50 earnings per share. The firm’s revenue was up 7.4% compared to the same quarter last year. equities analysts expect that Corning Incorporated will post 1.67 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Wednesday, February 28th will be paid a $0.18 dividend. The ex-dividend date is Tuesday, February 27th. This is a boost from Corning’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a yield of 2.44%. Corning’s dividend payout ratio (DPR) is -79.49%.

In other Corning news, Vice Chairman Lawrence D. Mcrae sold 51,676 shares of the stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $32.42, for a total value of $1,675,335.92. Following the completion of the sale, the insider now directly owns 136,032 shares in the company, valued at $4,410,157.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Deborah Rieman sold 2,083 shares of the stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $32.16, for a total value of $66,989.28. Following the completion of the sale, the director now owns 102,896 shares of the company’s stock, valued at $3,309,135.36. The disclosure for this sale can be found here. Company insiders own 0.59% of the company’s stock.

A number of equities analysts have recently issued reports on the company. ValuEngine raised Corning from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Oppenheimer reaffirmed a “hold” rating on shares of Corning in a research report on Wednesday, January 31st. Guggenheim reaffirmed a “buy” rating on shares of Corning in a research report on Tuesday, January 30th. Citigroup raised their price objective on Corning from $33.00 to $35.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. Finally, Barclays set a $38.00 price objective on Corning and gave the company a “buy” rating in a research report on Wednesday, January 10th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $31.47.

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Corning Company Profile

Corning Incorporated is engaged in manufacturing specialty glass and ceramics. Its segments include Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, Life Sciences and All Other. The Display Technologies segment manufactures glass substrates for flat panel liquid crystal displays (LCDs).

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Institutional Ownership by Quarter for Corning (NYSE:GLW)

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