Mercer Global Advisors Inc. ADV Reduces Stock Holdings in Corning Incorporated (NYSE:GLW)

Mercer Global Advisors Inc. ADV decreased its position in shares of Corning Incorporated (NYSE:GLW - Free Report) by 7.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 155,316 shares of the electronics maker's stock after selling 12,506 shares during the quarter. Mercer Global Advisors Inc. ADV's holdings in Corning were worth $7,381,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Sound Income Strategies LLC raised its stake in shares of Corning by 76.7% during the 4th quarter. Sound Income Strategies LLC now owns 523 shares of the electronics maker's stock valued at $25,000 after purchasing an additional 227 shares during the period. Sierra Ocean LLC bought a new position in shares of Corning in the fourth quarter valued at approximately $25,000. Asset Planning Inc purchased a new position in Corning during the fourth quarter valued at approximately $29,000. Mainstream Capital Management LLC bought a new stake in Corning during the 4th quarter worth approximately $35,000. Finally, Rosenberg Matthew Hamilton grew its position in shares of Corning by 202.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 747 shares of the electronics maker's stock valued at $35,000 after purchasing an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 69.80% of the company's stock.

Insider Buying and Selling at Corning

In other Corning news, SVP Michael Alan Bell sold 20,262 shares of the stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $44.06, for a total value of $892,743.72. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.40% of the company's stock.

Analysts Set New Price Targets

GLW has been the subject of a number of research analyst reports. Oppenheimer dropped their price target on Corning from $58.00 to $55.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Barclays lowered their price objective on shares of Corning from $53.00 to $52.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 29th. Bank of America upped their target price on shares of Corning from $65.00 to $68.00 and gave the stock a "buy" rating in a research report on Wednesday, March 19th. Mizuho set a $52.00 price target on Corning in a research report on Tuesday, April 15th. Finally, HSBC raised shares of Corning from a "hold" rating to a "buy" rating and raised their price target for the stock from $51.00 to $60.00 in a report on Thursday, January 30th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Corning currently has an average rating of "Moderate Buy" and a consensus price target of $53.08.

Corning Price Performance

GLW traded down $0.57 on Tuesday, reaching $44.84. 2,473,638 shares of the company's stock were exchanged, compared to its average volume of 5,941,330. Corning Incorporated has a twelve month low of $33.30 and a twelve month high of $55.33. The stock has a market cap of $38.42 billion, a PE ratio of 77.32, a P/E/G ratio of 1.50 and a beta of 1.09. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.62 and a quick ratio of 1.07. The stock's fifty day moving average price is $44.70 and its 200-day moving average price is $47.55.

Corning (NYSE:GLW - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The electronics maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. Corning had a return on equity of 15.10% and a net margin of 3.86%. The business 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 EPS. The company's quarterly revenue was up 12.9% compared to the same quarter last year. Sell-side analysts expect that Corning Incorporated will post 2.33 EPS for the current year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be given a $0.28 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.12 dividend on an annualized basis and a yield of 2.50%. Corning's payout ratio is currently 215.38%.

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.