Robecosam AG lifted its position in shares of Corning Incorporated (NYSE:GLW) by 18.0% in the 4th quarter, Holdings Channel reports. The firm owned 590,000 shares of the electronics maker’s stock after purchasing an additional 90,000 shares during the period. Corning comprises about 1.3% of Robecosam AG’s holdings, making the stock its 24th largest position. Robecosam AG’s holdings in Corning were worth $19,057,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in GLW. Raymond James Financial Services Advisors Inc. lifted its position in shares of Corning by 6.9% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 183,622 shares of the electronics maker’s stock worth $5,494,000 after purchasing an additional 11,848 shares during the last quarter. Victory Capital Management Inc. lifted its position in Corning by 398.5% in the third quarter. Victory Capital Management Inc. now owns 79,072 shares of the electronics maker’s stock valued at $2,366,000 after acquiring an additional 63,211 shares during the last quarter. HL Financial Services LLC lifted its position in Corning by 40.0% in the third quarter. HL Financial Services LLC now owns 76,563 shares of the electronics maker’s stock valued at $2,291,000 after acquiring an additional 21,891 shares during the last quarter. Sei Investments Co. lifted its position in Corning by 22.2% in the third quarter. Sei Investments Co. now owns 546,661 shares of the electronics maker’s stock valued at $16,356,000 after acquiring an additional 99,318 shares during the last quarter. Finally, HM Payson & Co. purchased a new stake in Corning in the third quarter valued at $204,000. 72.94% of the stock is owned by institutional investors and hedge funds.
In other news, Director Deborah Rieman sold 2,083 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $32.16, for a total transaction of $66,989.28. Following the transaction, the director now directly owns 102,896 shares in the company, valued at $3,309,135.36. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Lawrence D. Mcrae sold 51,676 shares of the business’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $32.42, for a total transaction of $1,675,335.92. Following the transaction, the insider now owns 136,032 shares in the company, valued at $4,410,157.44. The disclosure for this sale can be found here. Insiders own 0.59% of the company’s stock.
Corning (NYSE:GLW) last issued its quarterly earnings results on Tuesday, January 30th. The electronics maker reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. Corning had a negative net margin of 4.91% and a positive return on equity of 11.63%. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same period in the previous year, the business posted $0.50 earnings per share. The business’s revenue was up 7.4% compared to the same quarter last year. sell-side analysts anticipate that Corning Incorporated will post 1.67 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Wednesday, February 28th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.41%. This is a positive change from Corning’s previous quarterly dividend of $0.16. The ex-dividend date is Tuesday, February 27th. Corning’s payout ratio is -92.31%.
GLW has been the subject of a number of research reports. Oppenheimer reissued a “hold” rating on shares of Corning in a research report on Wednesday, January 31st. ValuEngine raised shares of Corning from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Guggenheim reissued a “buy” rating on shares of Corning in a research report on Tuesday, January 30th. Zacks Investment Research cut shares of Corning from a “buy” rating to a “hold” rating in a research report on Friday, December 22nd. Finally, Barclays set a $38.00 price target on shares of Corning and gave the company a “buy” rating in a research report on Wednesday, January 10th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $31.22.
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Corning Incorporated is engaged in manufacturing specialty glass and ceramics. Its segments include Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, Life Sciences and All Other. The Display Technologies segment manufactures glass substrates for flat panel liquid crystal displays (LCDs).
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