Corning Incorporated (NYSE:GLW) Shares Acquired by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. boosted its position in shares of Corning Incorporated (NYSE:GLW - Free Report) by 6.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 347,937 shares of the electronics maker's stock after acquiring an additional 20,350 shares during the period. Asset Management One Co. Ltd.'s holdings in Corning were worth $15,929,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in Corning by 46.0% in the 4th quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker's stock worth $319,000 after acquiring an additional 2,114 shares during the last quarter. Sigma Planning Corp raised its stake in Corning by 19.3% during the fourth quarter. Sigma Planning Corp now owns 12,589 shares of the electronics maker's stock valued at $598,000 after purchasing an additional 2,037 shares in the last quarter. Lake Street Advisors Group LLC lifted its position in Corning by 4.5% during the fourth quarter. Lake Street Advisors Group LLC now owns 5,688 shares of the electronics maker's stock valued at $270,000 after purchasing an additional 244 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Corning by 0.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 66,063 shares of the electronics maker's stock valued at $3,139,000 after buying an additional 204 shares in the last quarter. Finally, NewEdge Wealth LLC lifted its holdings in shares of Corning by 2.3% in the 4th quarter. NewEdge Wealth LLC now owns 33,438 shares of the electronics maker's stock valued at $1,589,000 after acquiring an additional 751 shares during the last quarter. Hedge funds and other institutional investors own 69.80% of the company's stock.

Corning Stock Up 1.8%

NYSE:GLW traded up $0.92 during trading hours on Monday, reaching $52.74. The company's stock had a trading volume of 5,413,880 shares, compared to its average volume of 5,646,077. The company has a market capitalization of $45.17 billion, a P/E ratio of 101.42, a price-to-earnings-growth ratio of 1.40 and a beta of 1.11. Corning Incorporated has a 12 month low of $37.18 and a 12 month high of $55.33. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.05 and a current ratio of 1.69. The stock has a 50 day moving average price of $48.33 and a two-hundred day moving average price of $47.95.

Corning (NYSE:GLW - Get Free Report) last announced its earnings results on Tuesday, April 29th. The electronics maker reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.03. The business had revenue of $3.68 billion for the quarter, compared to analysts' expectations of $3.63 billion. Corning had a return on equity of 16.47% and a net margin of 3.34%. The business's revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.38 EPS. Equities analysts predict that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.12 annualized dividend and a yield of 2.12%. Corning's dividend payout ratio (DPR) is presently 215.38%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GLW. Citigroup reduced their price objective on Corning from $58.00 to $50.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Bank of America boosted their target price on Corning from $65.00 to $68.00 and gave the company a "buy" rating in a research report on Wednesday, March 19th. JPMorgan Chase & Co. dropped their price objective on shares of Corning from $62.00 to $50.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Oppenheimer lowered their target price on shares of Corning from $58.00 to $55.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Finally, Mizuho set a $52.00 target price on Corning in a research note on Tuesday, April 15th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $53.75.

Insiders Place Their Bets

In other news, VP John Z. Zhang sold 9,610 shares of the firm's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $49.29, for a total value of $473,676.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Stefan Becker sold 17,106 shares of the business's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $49.68, for a total value of $849,826.08. Following the transaction, the senior vice president owned 16,117 shares in the company, valued at approximately $800,692.56. This trade represents a 51.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 75,796 shares of company stock valued at $3,632,635 in the last three months. 0.32% of the stock is currently owned by insiders.

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.