Decatur Capital Management Inc. Has $10.10 Million Holdings in Corning Incorporated (GLW)

Decatur Capital Management Inc. decreased its holdings in shares of Corning Incorporated (NYSE:GLW) by 13.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 315,750 shares of the electronics maker’s stock after selling 49,800 shares during the quarter. Corning comprises about 2.0% of Decatur Capital Management Inc.’s portfolio, making the stock its 21st biggest holding. Decatur Capital Management Inc.’s holdings in Corning were worth $10,101,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. IHT Wealth Management LLC raised its stake in shares of Corning by 13.4% in the second quarter. IHT Wealth Management LLC now owns 4,117 shares of the electronics maker’s stock valued at $165,000 after acquiring an additional 485 shares during the last quarter. United Bank VA raised its stake in shares of Corning by 0.8% in the second quarter. United Bank VA now owns 70,570 shares of the electronics maker’s stock valued at $2,121,000 after acquiring an additional 583 shares during the last quarter. Sentry Investment Management LLC raised its stake in shares of Corning by 1.1% in the second quarter. Sentry Investment Management LLC now owns 72,401 shares of the electronics maker’s stock valued at $2,176,000 after acquiring an additional 767 shares during the last quarter. Colony Group LLC raised its stake in shares of Corning by 0.5% in the second quarter. Colony Group LLC now owns 142,560 shares of the electronics maker’s stock valued at $4,284,000 after acquiring an additional 771 shares during the last quarter. Finally, BKD Wealth Advisors LLC raised its stake in shares of Corning by 9.2% in the fourth quarter. BKD Wealth Advisors LLC now owns 17,415 shares of the electronics maker’s stock valued at $557,000 after acquiring an additional 1,464 shares during the last quarter. Hedge funds and other institutional investors own 72.11% of the company’s stock.

Shares of Corning Incorporated (NYSE GLW) opened at $28.45 on Friday. The company has a quick ratio of 2.22, a current ratio of 2.75 and a debt-to-equity ratio of 0.35. The firm has a market cap of $24,720.00, a P/E ratio of -36.01, a P/E/G ratio of 4.46 and a beta of 1.34. Corning Incorporated has a fifty-two week low of $26.31 and a fifty-two week high of $35.10.

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

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Wednesday, February 28th will be issued a $0.18 dividend. The ex-dividend date is Tuesday, February 27th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.53%. This is a positive change from Corning’s previous quarterly dividend of $0.16. Corning’s dividend payout ratio (DPR) is currently -78.48%.

In other Corning news, Vice Chairman Lawrence D. Mcrae sold 51,676 shares of Corning stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $32.42, for a total transaction of $1,675,335.92. Following the completion of the sale, the insider now owns 136,032 shares of the company’s stock, valued at approximately $4,410,157.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Deborah Rieman sold 2,083 shares of Corning stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $32.16, for a total transaction of $66,989.28. Following the sale, the director now directly owns 102,896 shares of the company’s stock, valued at approximately $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 research analysts have recently issued reports on GLW shares. Oppenheimer reiterated a “hold” rating on shares of Corning in a research note on Wednesday, October 25th. Citigroup lifted their target price on shares of Corning from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, October 25th. ValuEngine upgraded shares of Corning from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Zacks Investment Research cut shares of Corning from a “buy” rating to a “hold” rating in a research note on Friday, December 22nd. Finally, Deutsche Bank lifted their target price on shares of Corning from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average 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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