Corning Incorporated (NYSE:GLW) Position Lessened by Robinson Value Management Ltd.

Robinson Value Management Ltd. decreased its position in shares of Corning Incorporated (NYSE:GLW) by 2.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 92,512 shares of the electronics maker’s stock after selling 2,450 shares during the quarter. Corning comprises 2.9% of Robinson Value Management Ltd.’s holdings, making the stock its 5th biggest position. Robinson Value Management Ltd.’s holdings in Corning were worth $4,396,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Northstar Advisory Group LLC raised its stake in Corning by 258.4% during the fourth quarter. Northstar Advisory Group LLC now owns 123,808 shares of the electronics maker’s stock worth $5,883,000 after purchasing an additional 89,268 shares during the period. Franklin Resources Inc. raised its stake in Corning by 48.4% during the third quarter. Franklin Resources Inc. now owns 191,648 shares of the electronics maker’s stock worth $8,975,000 after purchasing an additional 62,514 shares during the period. FMR LLC raised its stake in Corning by 52.8% during the third quarter. FMR LLC now owns 3,723,044 shares of the electronics maker’s stock worth $168,095,000 after purchasing an additional 1,285,836 shares during the period. Fifth Third Bancorp raised its stake in shares of Corning by 16.8% in the 4th quarter. Fifth Third Bancorp now owns 111,448 shares of the electronics maker’s stock valued at $5,296,000 after acquiring an additional 16,001 shares during the period. Finally, First Financial Bank Trust Division raised its stake in shares of Corning by 27.5% in the 4th quarter. First Financial Bank Trust Division now owns 138,153 shares of the electronics maker’s stock valued at $6,565,000 after acquiring an additional 29,790 shares during the period. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Barclays cut their target price on shares of Corning from $53.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. HSBC raised shares of Corning from a “hold” rating to a “buy” rating and raised their target price for the company from $51.00 to $60.00 in a research note on Thursday, January 30th. StockNews.com raised shares of Corning from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Oppenheimer reaffirmed an “outperform” rating and set a $58.00 price target (up from $51.00) on shares of Corning in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. raised their price target on shares of Corning from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Three investment 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 data from MarketBeat.com, Corning has an average rating of “Moderate Buy” and an average target price of $53.00.

Corning Trading Down 1.2 %

Corning stock opened at $52.99 on Friday. The firm’s 50-day moving average is $49.22 and its 200-day moving average is $45.93. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.62. Corning Incorporated has a 1 year low of $30.72 and a 1 year high of $55.33. The company has a market cap of $45.37 billion, a P/E ratio of 91.36, a PEG ratio of 1.55 and a beta of 1.03.

Corning (NYSE:GLW) last posted its quarterly earnings results on Wednesday, January 29th. The electronics maker reported $0.57 earnings per share (EPS) for the quarter, topping 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 earnings per share for the current year.

Insider Activity at Corning

In other Corning news, SVP Michael Alan Bell sold 2,209 shares of the business’s 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 filing with the SEC, which is available through the SEC website. Also, COO Eric S. Musser sold 30,000 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $51.92, for a total transaction of $1,557,600.00. Following the sale, the chief operating officer now owns 152,944 shares in the company, valued at $7,940,852.48. This trade represents a 16.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 46,085 shares of company stock worth $2,345,436 in the last ninety days. 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.