Neville Rodie & Shaw Inc. decreased its stake in shares of Corning Incorporated (NYSE:GLW) by 3.1% during the first quarter, Holdings Channel reports. The institutional investor owned 158,695 shares of the electronics maker’s stock after selling 5,025 shares during the period. Neville Rodie & Shaw Inc.’s holdings in Corning were worth $4,285,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. ING Groep NV bought a new position in Corning during the fourth quarter valued at about $482,000. Aberdeen Asset Management PLC UK boosted its position in Corning by 95.0% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 1,560,619 shares of the electronics maker’s stock valued at $37,876,000 after buying an additional 760,227 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its position in Corning by 146.6% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 52,822 shares of the electronics maker’s stock valued at $1,282,000 after buying an additional 31,405 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its position in Corning by 30.6% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 31,467 shares of the electronics maker’s stock valued at $764,000 after buying an additional 7,380 shares in the last quarter. Finally, Cipher Capital LP bought a new position in Corning during the fourth quarter valued at about $215,000. Institutional investors and hedge funds own 73.62% of the company’s stock.

Institutional Ownership by Quarter for Corning (NYSE:GLW)

Corning Incorporated (NYSE:GLW) opened at 29.41 on Friday. The stock has a 50 day moving average of $29.19 and a 200 day moving average of $26.95. The company has a market cap of $27.06 billion, a PE ratio of 7.80 and a beta of 1.37. Corning Incorporated has a 52 week low of $18.88 and a 52 week high of $29.90. Corning also was the recipient of some unusual options trading on Thursday. Stock investors bought 20,779 call options on the company. This represents an increase of approximately 404% compared to the typical daily volume of 4,120 call options.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, April 25th. The electronics maker reported $0.39 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.04. The firm had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.37 billion. Corning had a return on equity of 11.25% and a net margin of 42.69%. Corning’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.28 earnings per share. Equities research analysts predict that Corning Incorporated will post $1.73 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Wednesday, May 31st will be given a $0.155 dividend. The ex-dividend date of this dividend is Friday, May 26th. This represents a $0.62 dividend on an annualized basis and a yield of 2.11%. Corning’s dividend payout ratio is currently 16.89%.

COPYRIGHT VIOLATION NOTICE: “Corning Incorporated (GLW) Stake Lowered by Neville Rodie & Shaw Inc.” was published by Watch List News and is the sole property of of Watch List News. If you are accessing this piece of content on another publication, it was stolen and reposted in violation of United States and international trademark & copyright laws. The correct version of this piece of content can be read at https://www.watchlistnews.com/corning-incorporated-glw-stake-lowered-by-neville-rodie-shaw-inc/1371783.html.

GLW has been the topic of several research analyst reports. Goldman Sachs Group, Inc. (The) cut shares of Corning from a “buy” rating to a “neutral” rating and set a $29.00 target price on the stock. in a research note on Tuesday, March 14th. Susquehanna Bancshares Inc restated a “positive” rating and set a $31.00 target price (down previously from $32.00) on shares of Corning in a research note on Tuesday, March 21st. Citigroup Inc. cut shares of Corning from a “buy” rating to a “neutral” rating and upped their target price for the company from $28.00 to $29.00 in a research note on Friday, March 31st. Stifel Nicolaus restated a “hold” rating and set a $26.00 target price on shares of Corning in a research note on Wednesday, April 12th. Finally, Zacks Investment Research upgraded shares of Corning from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Friday, April 21st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $27.13.

In other Corning news, CEO Wendell P. Weeks sold 41,075 shares of the business’s stock in a transaction that occurred on Wednesday, April 26th. The stock was sold at an average price of $28.46, for a total value of $1,168,994.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Clark S. Kinlin sold 40,717 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $29.62, for a total value of $1,206,037.54. Following the completion of the transaction, the insider now directly owns 72,707 shares of the company’s stock, valued at $2,153,581.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 457,433 shares of company stock worth $13,393,083. 0.59% of the stock is owned by insiders.

About Corning

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).

Want to see what other hedge funds are holding GLW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corning Incorporated (NYSE:GLW).

Receive News & Ratings for Corning Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corning Incorporated and related companies with Analyst Ratings Network's FREE daily email newsletter.