Axa S.A. Purchases 334,775 Shares of Corning Incorporated (NYSE:GLW)

AXA S.A. boosted its position in Corning Incorporated (NYSE:GLW - Free Report) by 618.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 388,878 shares of the electronics maker's stock after buying an additional 334,775 shares during the quarter. AXA S.A.'s holdings in Corning were worth $18,479,000 as of its most recent filing with the SEC.

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

Corning Stock Up 0.1 %

NYSE:GLW traded up $0.03 during trading hours on Friday, reaching $45.08. The company had a trading volume of 2,571,251 shares, compared to its average volume of 5,921,265. The business's 50-day simple moving average is $44.45 and its two-hundred day simple moving average is $47.50. Corning Incorporated has a twelve month low of $33.94 and a twelve month high of $55.33. The firm has a market cap of $38.61 billion, a price-to-earnings ratio of 77.73, a P/E/G ratio of 1.50 and a beta of 1.09. The company has a quick ratio of 1.07, a current ratio of 1.62 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The electronics maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.03. Corning had a return on equity of 15.10% and a net margin of 3.86%. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.63 billion. During the same quarter in the prior year, the company earned $0.38 earnings per share. The company's quarterly revenue was up 12.9% on a year-over-year basis. On average, equities analysts expect that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, May 30th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.12 annualized dividend and a dividend yield of 2.48%. Corning's dividend payout ratio is currently 215.38%.

Insider Transactions at Corning

In other Corning news, SVP Michael Alan Bell sold 20,262 shares of the stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $44.06, for a total transaction of $892,743.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.40% of the company's stock.

Wall Street Analyst Weigh In

GLW has been the topic of a number of recent analyst reports. HSBC raised shares of Corning from a "hold" rating to a "buy" rating and lifted their price objective for the company from $51.00 to $60.00 in a research note on Thursday, January 30th. Bank of America increased their target price on shares of Corning from $65.00 to $68.00 and gave the stock a "buy" rating in a report on Wednesday, March 19th. StockNews.com downgraded shares of Corning from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Citigroup decreased their target price on shares of Corning from $58.00 to $50.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Oppenheimer dropped their price target on Corning from $58.00 to $55.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Four 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. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $53.08.

About Corning

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.