Corning Incorporated (NYSE:GLW) Shares Bought by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. grew its holdings in Corning Incorporated (NYSE:GLW) by 1.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 316,000 shares of the electronics maker’s stock after purchasing an additional 5,200 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Corning were worth $15,016,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of GLW. Oregon Public Employees Retirement Fund lifted its stake in Corning by 0.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 66,063 shares of the electronics maker’s stock valued at $3,139,000 after buying an additional 204 shares in the last quarter. Principal Securities Inc. lifted its position in shares of Corning by 3.5% in the fourth quarter. Principal Securities Inc. now owns 6,170 shares of the electronics maker’s stock valued at $293,000 after acquiring an additional 211 shares in the last quarter. Bogart Wealth LLC boosted its stake in shares of Corning by 18.3% during the fourth quarter. Bogart Wealth LLC now owns 1,419 shares of the electronics maker’s stock valued at $67,000 after acquiring an additional 219 shares during the last quarter. Buffington Mohr McNeal boosted its stake in shares of Corning by 2.1% during the fourth quarter. Buffington Mohr McNeal now owns 10,461 shares of the electronics maker’s stock valued at $497,000 after acquiring an additional 220 shares during the last quarter. Finally, Allworth Financial LP increased its position in Corning by 1.1% during the 4th quarter. Allworth Financial LP now owns 19,581 shares of the electronics maker’s stock worth $930,000 after purchasing an additional 220 shares in the last quarter. 69.80% of the stock is owned by hedge funds and other institutional investors.

Corning Price Performance

GLW stock opened at $48.93 on Friday. The stock has a 50-day moving average price of $50.12 and a two-hundred day moving average price of $47.03. The company has a market cap of $41.91 billion, a PE ratio of 84.35, a price-to-earnings-growth ratio of 1.50 and a beta of 1.03. The company has a current ratio of 1.62, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62. Corning Incorporated has a 12-month low of $30.72 and a 12-month high of $55.33.

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

Corning Dividend Announcement

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 paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Friday, February 28th. Corning’s dividend payout ratio is presently 193.10%.

Insider Activity

In other Corning news, SVP Michael Alan Bell sold 2,209 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $49.87, for a total value of $110,162.83. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Eric S. Musser sold 30,000 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was 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 owns 152,944 shares in the company, valued at approximately $7,940,852.48. This represents a 16.40 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

GLW has been the topic of a number of recent research reports. StockNews.com lowered shares of Corning from a “buy” rating to a “hold” rating in a report on Tuesday. Hsbc Global Res raised shares of Corning from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 30th. Barclays lowered their target price on shares of Corning from $53.00 to $52.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Morgan Stanley increased their price target on Corning from $39.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. Finally, HSBC upgraded Corning from a “hold” rating to a “buy” rating and raised their price objective for the stock from $51.00 to $60.00 in a report on Thursday, January 30th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Corning has an average 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.