Corning Incorporated (NYSE:GLW) Shares Purchased by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. raised its position in Corning Incorporated (NYSE:GLW) by 1.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 316,000 shares of the electronics maker’s stock after buying an additional 5,200 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Corning were worth $15,016,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Sound Income Strategies LLC boosted its holdings in Corning by 76.7% in the fourth quarter. Sound Income Strategies LLC now owns 523 shares of the electronics maker’s stock valued at $25,000 after purchasing an additional 227 shares during the last quarter. Sierra Ocean LLC purchased a new stake in Corning during the 4th quarter worth approximately $25,000. Asset Planning Inc acquired a new position in shares of Corning in the 4th quarter valued at approximately $29,000. Rosenberg Matthew Hamilton boosted its stake in shares of Corning by 202.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 747 shares of the electronics maker’s stock valued at $35,000 after buying an additional 500 shares during the last quarter. Finally, JFS Wealth Advisors LLC grew its position in shares of Corning by 171.8% during the fourth quarter. JFS Wealth Advisors LLC now owns 810 shares of the electronics maker’s stock worth $38,000 after buying an additional 512 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on GLW. Barclays cut their price target on shares of Corning from $53.00 to $52.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. HSBC upgraded shares of Corning from a “hold” rating to a “buy” rating and upped their target price for the company from $51.00 to $60.00 in a research note on Thursday, January 30th. Morgan Stanley lifted their price target on Corning from $39.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. Citigroup boosted their price objective on Corning from $55.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Finally, Hsbc Global Res raised Corning from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 30th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.00.

Corning Price Performance

Shares of GLW opened at $48.93 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.62 and a quick ratio of 1.07. The company has a market cap of $41.91 billion, a P/E ratio of 84.35, a PEG ratio of 1.50 and a beta of 1.03. Corning Incorporated has a 12 month low of $30.72 and a 12 month high of $55.33. The stock has a fifty day moving average price of $50.12 and a 200 day moving average price of $47.03.

Corning (NYSE:GLW) last released its quarterly earnings results on Wednesday, January 29th. The electronics maker reported $0.57 EPS for the quarter, topping the consensus estimate of $0.56 by $0.01. Corning had a net margin of 3.86% and a return on equity of 15.10%. On average, research analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be paid a $0.28 dividend. The ex-dividend date is Friday, February 28th. This represents a $1.12 annualized dividend and a dividend yield of 2.29%. Corning’s payout ratio is currently 193.10%.

Insider Activity

In other news, COO Eric S. Musser sold 30,000 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $51.92, for a total transaction of $1,557,600.00. Following the transaction, the chief operating officer now directly owns 152,944 shares of the company’s stock, valued at approximately $7,940,852.48. This trade represents a 16.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael Alan Bell sold 2,209 shares of Corning stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $49.87, for a total transaction of $110,162.83. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company’s stock.

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.