Nomura Asset Management Co. Ltd. Purchases 1,764 Shares of Corning Incorporated (NYSE:GLW)

Nomura Asset Management Co. Ltd. grew its position in Corning Incorporated (NYSE:GLWFree Report) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 212,720 shares of the electronics maker’s stock after acquiring an additional 1,764 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Corning were worth $6,477,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of GLW. Natixis Advisors L.P. raised its position in Corning by 5.9% in the 3rd quarter. Natixis Advisors L.P. now owns 101,322 shares of the electronics maker’s stock worth $3,087,000 after purchasing an additional 5,616 shares during the last quarter. KMG Fiduciary Partners LLC bought a new position in Corning in the 4th quarter worth approximately $1,199,000. Socha Financial Group LLC raised its position in Corning by 8.8% in the 4th quarter. Socha Financial Group LLC now owns 343,624 shares of the electronics maker’s stock worth $10,463,000 after purchasing an additional 27,772 shares during the last quarter. HB Wealth Management LLC raised its position in Corning by 24.2% in the 4th quarter. HB Wealth Management LLC now owns 9,871 shares of the electronics maker’s stock worth $301,000 after purchasing an additional 1,926 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in Corning by 59.8% in the 4th quarter. SG Americas Securities LLC now owns 108,358 shares of the electronics maker’s stock worth $3,300,000 after purchasing an additional 40,564 shares during the last quarter. Institutional investors own 69.80% of the company’s stock.

Corning Price Performance

GLW stock opened at $35.85 on Wednesday. The stock has a 50-day moving average price of $33.22 and a two-hundred day moving average price of $31.61. The stock has a market cap of $30.71 billion, a PE ratio of 50.49, a price-to-earnings-growth ratio of 1.64 and a beta of 1.07. 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 $36.80.

Corning (NYSE:GLWGet Free Report) last released its earnings results on Tuesday, April 30th. The electronics maker reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $2.98 billion during 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%. The company’s revenue was down 11.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 EPS. Equities analysts forecast that Corning Incorporated will post 1.91 EPS for the current fiscal year.

Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, May 31st will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.12%. Corning’s dividend payout ratio is 157.75%.

Analyst Ratings Changes

Several research analysts recently weighed in on GLW shares. HSBC cut shares of Corning from a “hold” rating to a “reduce” rating and set a $29.00 price objective for the company. in a research report on Thursday, February 1st. Mizuho began coverage on shares of Corning in a report on Tuesday, May 7th. They set a “neutral” rating and a $36.00 target price for the company. Susquehanna reaffirmed a “positive” rating and set a $40.00 target price on shares of Corning in a report on Monday, April 1st. StockNews.com raised shares of Corning from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Finally, UBS Group lifted their target price on shares of Corning from $34.00 to $35.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $35.00.

Check Out Our Latest Analysis on Corning

Insider Transactions at Corning

In other news, VP Jeffrey W. Evenson sold 103,437 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $33.19, for a total transaction of $3,433,074.03. Following the completion of the transaction, the vice president now directly owns 70,110 shares in the company, valued at approximately $2,326,950.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related 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 completion of the sale, the vice president now directly owns 65,598 shares in the company, valued at approximately $2,210,652.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jeffrey W. Evenson sold 103,437 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $33.19, for a total transaction of $3,433,074.03. Following the completion of the sale, the vice president now owns 70,110 shares of the company’s stock, valued at $2,326,950.90. The disclosure for this sale can be found here. Insiders sold a total of 239,841 shares of company stock worth $7,971,257 in the last three months. Insiders own 0.45% of the company’s stock.

Corning Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Corning (NYSE:GLW)

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