Robeco Schweiz AG Buys New Stake in Corning Incorporated (NYSE:GLW)

Robeco Schweiz AG acquired a new stake in Corning Incorporated (NYSE:GLW - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 225,500 shares of the electronics maker's stock, valued at approximately $10,323,000.

Several other large investors also recently bought and sold shares of GLW. Vermillion Wealth Management Inc. acquired a new stake in shares of Corning during the fourth quarter worth about $29,000. Putney Financial Group LLC acquired a new stake in shares of Corning during the fourth quarter worth about $30,000. Transce3nd LLC acquired a new stake in shares of Corning during the fourth quarter worth about $39,000. ORG Partners LLC boosted its stake in shares of Corning by 115.8% during the first quarter. ORG Partners LLC now owns 887 shares of the electronics maker's stock worth $40,000 after buying an additional 476 shares during the period. Finally, VSM Wealth Advisory LLC acquired a new stake in shares of Corning during the fourth quarter worth about $43,000. Institutional investors and hedge funds own 69.80% of the company's stock.

Corning Trading Down 1.3%

NYSE GLW traded down $0.68 during mid-day trading on Friday, reaching $51.58. 4,098,107 shares of the stock were exchanged, compared to its average volume of 5,374,598. Corning Incorporated has a 1-year low of $37.18 and a 1-year high of $55.33. The business's fifty day simple moving average is $49.87 and its 200 day simple moving average is $48.26. The stock has a market capitalization of $44.17 billion, a PE ratio of 99.19, a PEG ratio of 1.41 and a beta of 1.11. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.05 and a current ratio of 1.69.

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, topping analysts' consensus estimates of $0.51 by $0.03. Corning had a net margin of 3.34% and a return on equity of 16.47%. The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.63 billion. During the same quarter last year, the business earned $0.38 earnings per share. Corning's revenue was up 12.9% compared to the same quarter last year. On average, research analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be issued a $0.28 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.17%. Corning's dividend payout ratio (DPR) is presently 215.38%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on GLW shares. Citigroup increased their target price on shares of Corning from $52.00 to $60.00 and gave the stock a "buy" rating in a research note on Friday. Morgan Stanley raised their price objective on shares of Corning from $44.00 to $50.00 and gave the company an "equal weight" rating in a research report on Tuesday. Mizuho set a $52.00 price objective on shares of Corning in a research report on Tuesday, April 15th. Wolfe Research began coverage on shares of Corning in a research report on Tuesday. They issued an "outperform" rating for the company. Finally, UBS Group raised their price objective on shares of Corning from $54.00 to $57.00 and gave the company a "neutral" rating in a research report on Wednesday. Four 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. Based on data from MarketBeat, Corning currently has an average rating of "Moderate Buy" and an average price target of $55.73.

Insider Buying and Selling

In other Corning news, SVP Soumya Seetharam sold 14,313 shares of Corning stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $50.01, for a total value of $715,793.13. Following the transaction, the senior vice president owned 31,505 shares in the company, valued at $1,575,565.05. This trade represents a 31.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP John Z. Zhang sold 8,000 shares of Corning 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 completion of the transaction, the vice president owned 9,610 shares in the company, valued at approximately $450,805.10. This trade represents a 45.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,796 shares of company stock worth $3,632,635 over the last 90 days. Company insiders own 0.40% of the company's stock.

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.