Aull & Monroe Investment Management Corp Sells 2,888 Shares of Corning Incorporated (NYSE:GLW)

Aull & Monroe Investment Management Corp lowered its stake in shares of Corning Incorporated (NYSE:GLW) by 6.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 40,263 shares of the electronics maker’s stock after selling 2,888 shares during the quarter. Aull & Monroe Investment Management Corp’s holdings in Corning were worth $1,226,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Peoples Bank KS purchased a new stake in Corning during the third quarter valued at about $25,000. OFI Invest Asset Management purchased a new stake in shares of Corning in the third quarter worth about $25,000. Janiczek Wealth Management LLC lifted its holdings in shares of Corning by 173.6% in the third quarter. Janiczek Wealth Management LLC now owns 900 shares of the electronics maker’s stock worth $27,000 after buying an additional 571 shares in the last quarter. Pacifica Partners Inc. purchased a new stake in shares of Corning in the third quarter worth about $28,000. Finally, SRS Capital Advisors Inc. lifted its holdings in shares of Corning by 232.9% in the third quarter. SRS Capital Advisors Inc. now owns 932 shares of the electronics maker’s stock worth $28,000 after buying an additional 652 shares in the last quarter. Institutional investors own 69.80% of the company’s stock.

Corning Trading Up 0.6 %

Shares of Corning stock traded up $0.20 on Tuesday, hitting $32.39. The stock had a trading volume of 1,431,008 shares, compared to its average volume of 4,724,474. The company has a quick ratio of 1.05, a current ratio of 1.67 and a debt-to-equity ratio of 0.61. Corning Incorporated has a one year low of $25.26 and a one year high of $36.01. The stock has a market cap of $27.70 billion, a price-to-earnings ratio of 48.06, a PEG ratio of 1.85 and a beta of 1.08. The stock’s 50-day simple moving average is $32.44 and its two-hundred day simple moving average is $30.32.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, January 30th. The electronics maker reported $0.39 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.39. Corning had a net margin of 4.62% and a return on equity of 12.31%. The firm had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter last year, the business earned $0.47 earnings per share. The business’s revenue was down 12.1% on a year-over-year basis. As a group, sell-side analysts predict that Corning Incorporated will post 1.86 EPS for the current year.

Corning Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 29th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend was Wednesday, February 28th. Corning’s dividend payout ratio is 167.16%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Susquehanna reaffirmed a “positive” rating and issued a $40.00 target price on shares of Corning in a research note on Monday, April 1st. StockNews.com raised shares of Corning from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. HSBC downgraded shares of Corning from a “hold” rating to a “reduce” rating and set a $29.00 target price on the stock. in a research note on Thursday, February 1st. UBS Group raised their target price on shares of Corning from $34.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Barclays raised their target price on shares of Corning from $28.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 31st. One 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $34.00.

Insider Buying and Selling

In related news, Vice Chairman Lawrence D. Mcrae sold 77,464 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $33.24, for a total value of $2,574,903.36. Following the completion of the sale, the insider now owns 215,254 shares of the company’s stock, valued at $7,155,042.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.45% of the stock is currently owned by insiders.

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.