V Square Quantitative Management LLC Sells 766 Shares of Corning Incorporated (NYSE:GLW)

V Square Quantitative Management LLC decreased its holdings in Corning Incorporated (NYSE:GLW) by 7.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,144 shares of the electronics maker’s stock after selling 766 shares during the period. V Square Quantitative Management LLC’s holdings in Corning were worth $435,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Sound Income Strategies LLC raised its holdings in Corning by 76.7% during the 4th quarter. Sound Income Strategies LLC now owns 523 shares of the electronics maker’s stock valued at $25,000 after buying an additional 227 shares during the period. Rosenberg Matthew Hamilton increased its position in Corning by 202.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 747 shares of the electronics maker’s stock valued at $35,000 after acquiring an additional 500 shares during the last quarter. Cassady Schiller Wealth Management LLC bought a new position in Corning during the third quarter valued at $39,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Corning in the third quarter valued at $40,000. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of Corning in the 4th quarter worth about $40,000. 69.80% of the stock is owned by institutional investors.

Corning Stock Up 0.9 %

Shares of Corning stock opened at $52.58 on Friday. Corning Incorporated has a 1 year low of $30.72 and a 1 year high of $55.33. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.62 and a quick ratio of 1.07. The stock has a market cap of $45.02 billion, a price-to-earnings ratio of 90.66, a PEG ratio of 1.55 and a beta of 1.03. The firm’s 50-day moving average is $49.52 and its two-hundred day moving average is $46.23.

Corning (NYSE:GLW) last released its quarterly earnings data on Wednesday, January 29th. The electronics maker reported $0.57 earnings per share (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%. As a group, research analysts expect that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

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 2.13%. The ex-dividend date of this dividend is Friday, February 28th. Corning’s payout ratio is 193.11%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Morgan Stanley increased their price objective on shares of Corning from $39.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Oppenheimer reiterated an “outperform” rating and issued a $58.00 price target (up from $51.00) on shares of Corning in a report on Wednesday, October 30th. HSBC upgraded Corning from a “hold” rating to a “buy” rating and boosted their price objective for the company from $51.00 to $60.00 in a report on Thursday, January 30th. StockNews.com upgraded Corning from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Finally, Citigroup boosted their target price on shares of Corning from $55.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Corning has an average rating of “Moderate Buy” and a consensus price target of $53.00.

Insider Buying and Selling

In other Corning news, SVP Michael Alan Bell sold 2,209 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $49.87, for a total transaction of $110,162.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Eric S. Musser sold 30,000 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $51.92, for a total transaction of $1,557,600.00. Following the completion of the sale, the chief operating officer now owns 152,944 shares in the company, valued at $7,940,852.48. This represents a 16.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,085 shares of company stock worth $2,345,436 in the last three months. 0.40% of the stock is owned by insiders.

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.