Robeco Institutional Asset Management B.V. Increases Holdings in Corning Incorporated (NYSE:GLW)

Robeco Institutional Asset Management B.V. grew its position in shares of Corning Incorporated (NYSE:GLW - Free Report) by 68.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 630,419 shares of the electronics maker's stock after acquiring an additional 256,205 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.07% of Corning worth $28,861,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GLW. Brighton Jones LLC grew its holdings in shares of Corning by 46.0% during 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 period. Lake Street Advisors Group LLC grew its holdings in shares of Corning by 4.5% during the 4th quarter. Lake Street Advisors Group LLC now owns 5,688 shares of the electronics maker's stock worth $270,000 after acquiring an additional 244 shares during the period. Oregon Public Employees Retirement Fund grew its holdings 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 worth $3,139,000 after acquiring an additional 204 shares during the period. NewEdge Wealth LLC grew its holdings in shares of Corning by 2.3% during the 4th quarter. NewEdge Wealth LLC now owns 33,438 shares of the electronics maker's stock worth $1,589,000 after acquiring an additional 751 shares during the period. Finally, Heritage Investors Management Corp grew its holdings in shares of Corning by 8.1% during the 4th quarter. Heritage Investors Management Corp now owns 12,498 shares of the electronics maker's stock worth $594,000 after acquiring an additional 934 shares during the period. Hedge funds and other institutional investors own 69.80% of the company's stock.

Insider Buying and Selling at Corning

In other Corning news, SVP Michael Alan Bell sold 20,262 shares of the business's stock in a transaction on 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 can be accessed through this link. Also, VP John Z. Zhang sold 8,000 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $46.91, for a total transaction of $375,280.00. Following the sale, the vice president now owns 9,610 shares of the company's stock, valued at approximately $450,805.10. This represents a 45.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,796 shares of company stock worth $3,632,635. Insiders own 0.40% of the company's stock.

Analyst Ratings Changes

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

Corning Stock Performance

GLW stock opened at $51.87 on Friday. The stock has a market capitalization of $44.42 billion, a PE ratio of 99.74, a price-to-earnings-growth ratio of 1.39 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 current ratio of 1.69, a quick ratio of 1.05 and a debt-to-equity ratio of 0.62. The stock's 50 day simple moving average is $48.09 and its 200 day simple moving average is $47.92.

Corning (NYSE:GLW - Get Free Report) last released its quarterly earnings data 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 firm's quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.38 EPS. As a group, research analysts forecast that Corning Incorporated will post 2.33 earnings per share 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 dividend of $0.28 per share. The ex-dividend date is Friday, August 29th. This represents a $1.12 dividend on an annualized basis and a yield of 2.16%. Corning's dividend payout ratio is presently 215.38%.

Corning 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.

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