Cambridge Trust Co. Has $67,000 Stake in Corning Incorporated (NYSE:GLW)

Cambridge Trust Co. cut its holdings in Corning Incorporated (NYSE:GLW) by 27.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,194 shares of the electronics maker’s stock after selling 832 shares during the period. Cambridge Trust Co.’s holdings in Corning were worth $67,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Peoples Bank KS bought a new position in Corning in the 3rd quarter worth approximately $25,000. OFI Invest Asset Management acquired a new position in shares of Corning in the 3rd quarter valued at $25,000. Janiczek Wealth Management LLC raised its stake in shares of Corning by 173.6% in the 3rd quarter. Janiczek Wealth Management LLC now owns 900 shares of the electronics maker’s stock valued at $27,000 after buying an additional 571 shares in the last quarter. SRS Capital Advisors Inc. lifted its holdings in shares of Corning by 232.9% during the 3rd quarter. SRS Capital Advisors Inc. now owns 932 shares of the electronics maker’s stock worth $28,000 after acquiring an additional 652 shares during the period. Finally, Bruce G. Allen Investments LLC acquired a new stake in shares of Corning during the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Trading Up 1.2 %

Shares of NYSE GLW opened at $31.27 on Friday. Corning Incorporated has a 1-year low of $25.26 and a 1-year high of $36.01. The company has a 50-day moving average of $32.31 and a two-hundred day moving average of $30.39. The company has a market cap of $26.75 billion, a PE ratio of 46.67, a P/E/G ratio of 1.71 and a beta of 1.08. The company has a current ratio of 1.67, a quick ratio of 1.05 and a debt-to-equity ratio of 0.61.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, January 30th. The electronics maker reported $0.39 earnings per share for the quarter, hitting the consensus estimate of $0.39. The firm had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Corning had a net margin of 4.62% and a return on equity of 12.31%. Corning’s revenue was down 12.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.47 EPS. As a group, equities analysts expect that Corning Incorporated will post 1.87 earnings per share for the current fiscal year.

Corning Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 29th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 3.58%. The ex-dividend date was Wednesday, February 28th. Corning’s dividend payout ratio is 167.16%.

Insider Buying and Selling

In other news, Vice Chairman Lawrence D. Mcrae sold 77,464 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $33.24, for a total value of $2,574,903.36. Following the transaction, the insider now owns 215,254 shares of the company’s stock, valued at approximately $7,155,042.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on GLW. Barclays lifted their price objective on Corning from $28.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday, January 31st. UBS Group upped their price target on Corning from $34.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. HSBC cut Corning from a “hold” rating to a “reduce” rating and set a $29.00 price objective for the company. in a report on Thursday, February 1st. Susquehanna reaffirmed a “positive” rating and issued a $40.00 target price on shares of Corning in a report on Monday, April 1st. Finally, JPMorgan Chase & Co. increased their target price on shares of Corning from $34.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Corning currently has a consensus rating of “Hold” and an average target price of $34.56.

Corning 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.