8,100 Shares in Corning Incorporated (NYSE:GLW) Acquired by Tributary Capital Management LLC

Tributary Capital Management LLC acquired a new stake in Corning Incorporated (NYSE:GLW - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 8,100 shares of the electronics maker's stock, valued at approximately $371,000.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Corning by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 99,903,247 shares of the electronics maker's stock worth $4,747,402,000 after acquiring an additional 916,528 shares during the period. Geode Capital Management LLC increased its stake in Corning by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 18,470,610 shares of the electronics maker's stock valued at $875,633,000 after buying an additional 533,686 shares during the last quarter. Northern Trust Corp increased its stake in Corning by 2.0% in the 4th quarter. Northern Trust Corp now owns 10,870,375 shares of the electronics maker's stock valued at $516,560,000 after buying an additional 208,826 shares during the last quarter. Norges Bank acquired a new stake in Corning in the 4th quarter valued at $490,933,000. Finally, Dimensional Fund Advisors LP increased its stake in Corning by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,800,573 shares of the electronics maker's stock valued at $465,723,000 after buying an additional 78,497 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Stock Down 0.3%

Shares of GLW stock traded down $0.16 on Friday, hitting $54.04. The stock had a trading volume of 2,502,221 shares, compared to its average volume of 5,272,083. The company has a quick ratio of 1.05, a current ratio of 1.69 and a debt-to-equity ratio of 0.62. The business has a 50 day moving average price of $50.70 and a 200 day moving average price of $48.45. The company has a market cap of $46.28 billion, a PE ratio of 103.92, a P/E/G ratio of 1.46 and a beta of 1.11. Corning Incorporated has a one year low of $37.18 and a one year high of $55.33.

Corning (NYSE:GLW - Get Free Report) last posted its earnings results on Tuesday, April 29th. The electronics maker reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.03. Corning had a return on equity of 16.47% and a net margin of 3.34%. The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.63 billion. During the same quarter in the previous year, the firm earned $0.38 earnings per share. The firm's quarterly revenue was up 12.9% compared to the same quarter last year. Research analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Friday, August 29th. Corning's payout ratio is 215.38%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Corning from $52.00 to $62.00 and gave the company an "overweight" rating in a research report on Thursday. Mizuho set a $59.00 price objective on shares of Corning and gave the company an "outperform" rating in a research report on Tuesday. Citigroup lifted their price objective on shares of Corning from $52.00 to $60.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Oppenheimer decreased their price objective on shares of Corning from $58.00 to $55.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Finally, Wolfe Research began coverage on shares of Corning in a report on Tuesday, July 8th. They set an "outperform" rating for the company. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.45.

Insider Activity

In other Corning news, SVP Stefan Becker sold 17,106 shares of the company's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $49.68, for a total value of $849,826.08. Following the completion of the sale, the senior vice president directly owned 16,117 shares in the company, valued at $800,692.56. This represents a 51.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Soumya Seetharam sold 6,505 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $50.01, for a total value of $325,315.05. Following the transaction, the senior vice president owned 25,000 shares of the company's stock, valued at approximately $1,250,250. This represents a 20.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,796 shares of company stock valued at $3,632,635 in the last three months. Company insiders own 0.40% of the company's stock.

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.