Skandinaviska Enskilda Banken AB publ Has $9.09 Million Stock Position in Corning Incorporated (NYSE:GLW)

Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Corning Incorporated (NYSE:GLW) by 8.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 192,069 shares of the electronics maker’s stock after buying an additional 15,538 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Corning were worth $9,093,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of GLW. Sigma Planning Corp raised its holdings in Corning by 6.0% during the 3rd quarter. Sigma Planning Corp now owns 10,552 shares of the electronics maker’s stock worth $476,000 after buying an additional 594 shares during the period. Venturi Wealth Management LLC raised its holdings in shares of Corning by 90.8% in the third quarter. Venturi Wealth Management LLC now owns 994 shares of the electronics maker’s stock valued at $45,000 after purchasing an additional 473 shares during the last quarter. GSA Capital Partners LLP raised its holdings in shares of Corning by 2.6% in the third quarter. GSA Capital Partners LLP now owns 10,665 shares of the electronics maker’s stock valued at $482,000 after purchasing an additional 274 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Corning by 0.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,936,928 shares of the electronics maker’s stock valued at $87,452,000 after purchasing an additional 10,311 shares during the last quarter. Finally, Aptus Capital Advisors LLC raised its holdings in shares of Corning by 16.9% in the third quarter. Aptus Capital Advisors LLC now owns 7,696 shares of the electronics maker’s stock valued at $347,000 after purchasing an additional 1,115 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Trading Up 2.8 %

GLW stock opened at $46.86 on Friday. 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 company has a fifty day moving average price of $49.88 and a two-hundred day moving average price of $47.43. Corning Incorporated has a one year low of $30.72 and a one year high of $55.33. The stock has a market cap of $40.13 billion, a price-to-earnings ratio of 80.79, a price-to-earnings-growth ratio of 1.50 and a beta of 1.03.

Corning (NYSE:GLW) last released its quarterly earnings data on Wednesday, January 29th. The electronics maker reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.01. Corning had a net margin of 3.86% and a return on equity of 15.10%. Equities analysts anticipate that Corning Incorporated will post 2.33 EPS for the current year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be given a $0.28 dividend. The ex-dividend date is Friday, February 28th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.39%. Corning’s payout ratio is presently 193.10%.

Insider Activity at Corning

In related news, COO Eric S. Musser sold 30,000 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $51.92, for a total value of $1,557,600.00. Following the transaction, the chief operating officer now directly owns 152,944 shares in the company, valued at approximately $7,940,852.48. This represents a 16.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Michael Alan Bell sold 2,209 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $49.87, for a total transaction of $110,162.83. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on GLW shares. HSBC upgraded shares of Corning from a “hold” rating to a “buy” rating and lifted their price objective for the company from $51.00 to $60.00 in a report on Thursday, January 30th. Citigroup lifted their price objective on shares of Corning from $55.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. StockNews.com downgraded shares of Corning from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Hsbc Global Res upgraded shares of Corning from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 30th. Finally, Morgan Stanley raised their target price on shares of Corning from $39.00 to $48.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. 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’s stock. Based on data from MarketBeat, Corning presently has a consensus rating of “Moderate Buy” and an average price target of $53.00.

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.