Bahl & Gaynor Inc. Has $107.72 Million Stake in Corning Incorporated (NYSE:GLW)

Bahl & Gaynor Inc. decreased its holdings in shares of Corning Incorporated (NYSE:GLW - Free Report) by 11.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,537,484 shares of the electronics maker's stock after selling 456,236 shares during the period. Bahl & Gaynor Inc. owned approximately 0.41% of Corning worth $107,716,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bryn Mawr Capital Management LLC acquired a new stake in shares of Corning in the 4th quarter worth approximately $339,000. Syon Capital LLC acquired a new stake in shares of Corning in the 4th quarter worth approximately $339,000. Community Bank N.A. grew its holdings in shares of Corning by 9.4% in the 4th quarter. Community Bank N.A. now owns 83,802 shares of the electronics maker's stock worth $2,552,000 after acquiring an additional 7,170 shares during the period. Alaska Permanent Fund Corp grew its holdings in Corning by 0.5% during the 4th quarter. Alaska Permanent Fund Corp now owns 83,222 shares of the electronics maker's stock valued at $2,534,000 after buying an additional 438 shares during the last quarter. Finally, Corrado Advisors LLC grew its holdings in Corning by 23.3% during the 4th quarter. Corrado Advisors LLC now owns 40,908 shares of the electronics maker's stock valued at $1,246,000 after buying an additional 7,742 shares during the last quarter. Institutional investors and hedge funds own 69.80% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on GLW shares. Barclays increased their target price on Corning from $28.00 to $35.00 and gave the company an "equal weight" rating in a report on Wednesday, January 31st. Susquehanna reiterated a "positive" rating and set a $40.00 target price on shares of Corning in a report on Monday, April 1st. Morgan Stanley reiterated an "overweight" rating and set a $35.00 target price on shares of Corning in a report on Monday, April 22nd. UBS Group increased their price target on Corning from $34.00 to $35.00 and gave the stock a "neutral" rating in a research note on Monday, April 8th. Finally, StockNews.com raised Corning from a "sell" rating to a "hold" rating in a research note on Monday, April 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Corning currently has a consensus rating of "Hold" and a consensus price target of $34.78.

Insider Buying and Selling at Corning

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 stock was sold at an average price of $33.24, for a total transaction of $2,574,903.36. Following the completion of the sale, the insider now directly owns 215,254 shares in the company, valued at $7,155,042.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.40% of the stock is currently owned by corporate insiders.

Corning Trading Down 0.1 %

Shares of GLW traded down $0.02 during trading hours on Friday, hitting $31.33. The stock had a trading volume of 3,689,954 shares, compared to its average volume of 3,969,842. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.05 and a current ratio of 1.67. The firm has a market cap of $26.80 billion, a P/E ratio of 46.76, a P/E/G ratio of 1.74 and a beta of 1.08. The company's fifty day simple moving average is $32.28 and its 200 day simple moving average is $30.46. Corning Incorporated has a 12-month low of $25.26 and a 12-month high of $36.01.

Corning (NYSE:GLW - Get Free Report) last released its quarterly earnings data on Tuesday, January 30th. The electronics maker reported $0.39 EPS for the quarter, meeting the consensus estimate of $0.39. Corning had a return on equity of 12.31% and a net margin of 4.62%. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same period last year, the company posted $0.47 earnings per share. The firm's revenue was down 12.1% compared to the same quarter last year. Equities research analysts forecast that Corning Incorporated will post 1.87 EPS for the current fiscal year.

Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 29th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend was Wednesday, February 28th. Corning's dividend payout ratio (DPR) is presently 167.16%.

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.