Bank of New Hampshire Has $393,000 Stock Position in Corning Incorporated (NYSE:GLW)

Bank of New Hampshire lowered its holdings in shares of Corning Incorporated (NYSE:GLW) by 12.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,930 shares of the electronics maker’s stock after selling 1,745 shares during the quarter. Bank of New Hampshire’s holdings in Corning were worth $393,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Banque Cantonale Vaudoise raised its holdings in shares of Corning by 176.2% during the first quarter. Banque Cantonale Vaudoise now owns 46,407 shares of the electronics maker’s stock worth $1,530,000 after acquiring an additional 29,608 shares during the period. Founders Capital Management lifted its holdings in shares of Corning by 42.4% in the first quarter. Founders Capital Management now owns 154,068 shares of the electronics maker’s stock valued at $5,078,000 after purchasing an additional 45,912 shares in the last quarter. Czech National Bank boosted its position in shares of Corning by 0.5% during the first quarter. Czech National Bank now owns 135,105 shares of the electronics maker’s stock worth $4,453,000 after buying an additional 620 shares during the period. Green Alpha Advisors LLC grew its holdings in shares of Corning by 5.3% during the first quarter. Green Alpha Advisors LLC now owns 35,196 shares of the electronics maker’s stock worth $1,160,000 after buying an additional 1,781 shares in the last quarter. Finally, Alaska Permanent Fund Corp lifted its stake in Corning by 0.4% in the 1st quarter. Alaska Permanent Fund Corp now owns 83,551 shares of the electronics maker’s stock valued at $2,754,000 after acquiring an additional 329 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GLW. Susquehanna restated a “positive” rating and set a $40.00 target price on shares of Corning in a report on Monday, April 1st. Fox Advisors raised Corning from an “equal weight” rating to an “overweight” rating and set a $45.00 target price on the stock in a research report on Monday, June 17th. JPMorgan Chase & Co. upgraded Corning from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $37.00 to $43.00 in a report on Thursday, May 30th. Morgan Stanley downgraded Corning from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $35.00 to $38.00 in a research note on Thursday, June 13th. Finally, Mizuho upped their price objective on Corning from $36.00 to $42.00 and gave the stock a “neutral” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Corning has a consensus rating of “Hold” and an average price target of $38.67.

Corning Price Performance

Shares of NYSE GLW opened at $40.05 on Friday. The firm has a market cap of $34.31 billion, a P/E ratio of 56.41, a price-to-earnings-growth ratio of 1.81 and a beta of 1.08. The business’s 50 day moving average is $35.17 and its 200-day moving average is $32.76. The company has a current ratio of 1.67, a quick ratio of 1.02 and a debt-to-equity ratio of 0.61. Corning Incorporated has a 1-year low of $25.26 and a 1-year high of $40.46.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, April 30th. The electronics maker reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. The firm had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $3.12 billion. Corning had a return on equity of 12.31% and a net margin of 4.96%. During the same quarter last year, the business earned $0.41 EPS. The company’s quarterly revenue was down 11.5% compared to the same quarter last year. Equities research analysts predict that Corning Incorporated will post 1.9 earnings per share for the current year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.28 per share. The ex-dividend date is Friday, May 31st. This represents a $1.12 annualized dividend and a dividend yield of 2.80%. Corning’s dividend payout ratio is presently 157.75%.

Insider Activity

In other Corning news, VP Martin J. Curran sold 16,416 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $33.70, for a total transaction of $553,219.20. Following the transaction, the vice president now owns 65,598 shares in the company, valued at approximately $2,210,652.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Corning news, VP Martin J. Curran sold 16,416 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $33.70, for a total value of $553,219.20. Following the transaction, the vice president now directly owns 65,598 shares of the company’s stock, valued at approximately $2,210,652.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Jeffrey W. Evenson sold 103,437 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $33.19, for a total transaction of $3,433,074.03. Following the sale, the vice president now directly owns 70,110 shares of the company’s stock, valued at approximately $2,326,950.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 175,207 shares of company stock worth $5,876,067. Corporate insiders own 0.40% of the company’s stock.

About Corning

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.