Caisse DE Depot ET Placement DU Quebec Has $27.99 Million Position in Corning Incorporated (NYSE:GLW)

Caisse DE Depot ET Placement DU Quebec lowered its stake in Corning Incorporated (NYSE:GLW - Free Report) by 18.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 589,000 shares of the electronics maker's stock after selling 136,751 shares during the period. Caisse DE Depot ET Placement DU Quebec owned approximately 0.07% of Corning worth $27,989,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Oregon Public Employees Retirement Fund raised its position in shares of Corning by 0.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 66,063 shares of the electronics maker's stock worth $3,139,000 after purchasing an additional 204 shares during the period. Principal Securities Inc. raised its holdings in Corning by 3.5% during the 4th quarter. Principal Securities Inc. now owns 6,170 shares of the electronics maker's stock worth $293,000 after buying an additional 211 shares during the period. Bogart Wealth LLC lifted its stake in 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 buying an additional 219 shares in the last quarter. Buffington Mohr McNeal lifted its stake in 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 buying an additional 220 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of Corning by 1.1% in the fourth quarter. Allworth Financial LP now owns 19,581 shares of the electronics maker's stock worth $930,000 after buying an additional 220 shares during the period. 69.80% of the stock is owned by institutional investors.

Insider Transactions at Corning

In related news, SVP Michael Alan Bell sold 20,262 shares of the business's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $44.06, for a total value of $892,743.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

GLW has been the topic of a number of recent analyst reports. StockNews.com lowered shares of Corning from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Barclays cut their target price on shares of Corning from $53.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 29th. Citigroup decreased their target price on Corning from $58.00 to $50.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Mizuho set a $52.00 price target on Corning in a report on Tuesday, April 15th. Finally, Bank of America increased their price objective on Corning from $65.00 to $68.00 and gave the stock a "buy" rating in a research note on Wednesday, March 19th. Four equities research 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. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $53.08.

Corning Stock Down 0.8 %

Shares of NYSE GLW traded down $0.35 during trading hours on Monday, hitting $45.41. The stock had a trading volume of 3,135,276 shares, compared to its average volume of 5,959,280. The company has a market capitalization of $38.91 billion, a P/E ratio of 78.29, a P/E/G ratio of 1.50 and a beta of 1.09. The firm's 50-day moving average price is $44.70 and its two-hundred day moving average price is $47.55. 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 $32.92 and a 52 week high of $55.33.

Corning (NYSE:GLW - Get Free Report) last posted its earnings results on Tuesday, April 29th. The electronics maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. Corning had a net margin of 3.86% and a return on equity of 15.10%. The company had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same period in the previous year, the firm posted $0.38 earnings per share. The company's revenue for the quarter was up 12.9% compared to the same quarter last year. Analysts anticipate that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be given a $0.28 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.47%. Corning's dividend payout ratio is currently 215.38%.

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.