TD Waterhouse Canada Inc. Has $4.51 Million Holdings in Corning Incorporated (NYSE:GLW)

TD Waterhouse Canada Inc. lifted its position in Corning Incorporated (NYSE:GLW) by 4.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 94,796 shares of the electronics maker’s stock after acquiring an additional 4,077 shares during the period. TD Waterhouse Canada Inc.’s holdings in Corning were worth $4,505,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sound Income Strategies LLC raised its stake in shares of Corning by 76.7% in the 4th quarter. Sound Income Strategies LLC now owns 523 shares of the electronics maker’s stock valued at $25,000 after buying an additional 227 shares in the last quarter. Sierra Ocean LLC bought a new stake in Corning in the fourth quarter valued at about $25,000. Asset Planning Inc acquired a new position in Corning in the fourth quarter worth about $29,000. Mainstream Capital Management LLC bought a new position in Corning during the fourth quarter worth about $35,000. Finally, Rosenberg Matthew Hamilton boosted its holdings in Corning by 202.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 747 shares of the electronics maker’s stock valued at $35,000 after purchasing an additional 500 shares in the last quarter. 69.80% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Citigroup dropped their target price on Corning from $58.00 to $50.00 and set a “buy” rating for the company in a report on Monday, April 14th. Bank of America lifted their price objective on Corning from $65.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, March 19th. Mizuho set a $52.00 target price on shares of Corning in a report on Tuesday, April 15th. StockNews.com downgraded shares of Corning from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, Hsbc Global Res raised shares of Corning from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $53.31.

Corning Stock Up 2.6 %

NYSE GLW opened at $41.76 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.62. Corning Incorporated has a 52 week low of $31.20 and a 52 week high of $55.33. The stock has a market capitalization of $35.78 billion, a P/E ratio of 72.00, a price-to-earnings-growth ratio of 1.50 and a beta of 1.03. The stock has a fifty day moving average of $45.99 and a 200-day moving average of $47.64.

Corning (NYSE:GLW) last announced its quarterly earnings data on Wednesday, January 29th. The electronics maker reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.01. Corning had a return on equity of 15.10% and a net margin of 3.86%. On average, equities research analysts forecast that Corning Incorporated will post 2.33 EPS for the current year.

Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, February 28th were paid a $0.28 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.12 dividend on an annualized basis and a yield of 2.68%. Corning’s payout ratio is presently 193.10%.

Insiders Place Their Bets

In other news, COO Eric S. Musser sold 30,000 shares of the firm’s stock in a transaction on 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 directly owns 152,944 shares in the company, valued at $7,940,852.48. This trade represents a 16.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 value of $110,162.83. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.

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.