Yousif Capital Management LLC Sells 1,978 Shares of Corning Incorporated (NYSE:GLW)

Yousif Capital Management LLC reduced its stake in Corning Incorporated (NYSE:GLW) by 2.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,858 shares of the electronics maker’s stock after selling 1,978 shares during the period. Yousif Capital Management LLC’s holdings in Corning were worth $4,698,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Sound Income Strategies LLC grew its stake in Corning by 76.7% in the fourth quarter. Sound Income Strategies LLC now owns 523 shares of the electronics maker’s stock worth $25,000 after purchasing an additional 227 shares in the last quarter. Rosenberg Matthew Hamilton lifted its holdings in shares of Corning by 202.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 747 shares of the electronics maker’s stock worth $35,000 after buying an additional 500 shares during the period. Cassady Schiller Wealth Management LLC bought a new position in shares of Corning during the 3rd quarter worth $39,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Corning during the third quarter valued at $40,000. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of Corning in the fourth quarter valued at about $40,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GLW has been the topic of a number of research reports. Oppenheimer reissued an “outperform” rating and set a $58.00 target price (up previously from $51.00) on shares of Corning in a research report on Wednesday, October 30th. StockNews.com raised shares of Corning from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Corning from $49.00 to $54.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. HSBC raised Corning from a “hold” rating to a “buy” rating and increased their target price for the company from $51.00 to $60.00 in a research report on Thursday, January 30th. Finally, Citigroup upped their price objective on Corning from $55.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Corning presently has an average rating of “Moderate Buy” and an average target price of $53.00.

Insider Buying and Selling

In other news, SVP John P. Bayne, Jr. sold 5,000 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $48.39, for a total value of $241,950.00. Following the transaction, the senior vice president now directly owns 6,700 shares of the company’s stock, valued at approximately $324,213. This represents a 42.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the chief operating officer now directly owns 152,944 shares of the company’s stock, valued at $7,940,852.48. This trade represents a 16.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,085 shares of company stock worth $2,345,436 in the last 90 days. Insiders own 0.45% of the company’s stock.

Corning Price Performance

Shares of GLW stock opened at $52.99 on Friday. The firm has a market capitalization of $45.37 billion, a price-to-earnings ratio of 91.36, a PEG ratio of 1.51 and a beta of 1.03. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.62. The stock’s 50-day simple moving average is $49.13 and its 200-day simple moving average is $45.88. Corning Incorporated has a fifty-two week low of $30.72 and a fifty-two week high of $55.33.

Corning (NYSE:GLW) last issued its quarterly earnings results 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, equities analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

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.