Corning Incorporated (GLW) Shares Bought by Robeco Institutional Asset Management B.V.

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Robeco Institutional Asset Management B.V. increased its stake in shares of Corning Incorporated (NYSE:GLW) by 0.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 671,158 shares of the electronics maker’s stock after purchasing an additional 2,905 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.08% of Corning worth $23,691,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd acquired a new position in Corning in the 1st quarter valued at approximately $508,000. Private Trust Co. NA increased its position in Corning by 5.3% in the 2nd quarter. Private Trust Co. NA now owns 44,584 shares of the electronics maker’s stock valued at $1,226,000 after acquiring an additional 2,235 shares during the period. Neville Rodie & Shaw Inc. acquired a new position in Corning in the 2nd quarter valued at approximately $3,943,000. CenturyLink Investment Management Co acquired a new position in Corning in the 2nd quarter valued at approximately $1,164,000. Finally, DnB Asset Management AS acquired a new position in Corning in the 2nd quarter valued at approximately $3,009,000. Institutional investors and hedge funds own 70.31% of the company’s stock.

A number of equities research analysts have recently commented on the stock. UBS Group upped their price objective on shares of Corning from $29.50 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, July 26th. Zacks Investment Research raised shares of Corning from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research note on Monday, October 22nd. Morgan Stanley upped their price objective on shares of Corning from $34.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, July 26th. Argus upped their price objective on shares of Corning from $36.00 to $42.00 and gave the company a “positive” rating in a research note on Thursday, September 20th. Finally, ValuEngine raised shares of Corning from a “hold” rating to a “buy” rating in a research note on Thursday, July 26th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Corning presently has a consensus rating of “Buy” and a consensus price target of $35.89.

In related news, CEO Wendell P. Weeks sold 237,470 shares of the stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $32.87, for a total transaction of $7,805,638.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Clark S. Kinlin sold 45,298 shares of the stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $33.15, for a total transaction of $1,501,628.70. Following the transaction, the executive vice president now directly owns 72,741 shares in the company, valued at $2,411,364.15. The disclosure for this sale can be found here. Over the last three months, insiders have sold 410,319 shares of company stock worth $13,627,033. 0.46% of the stock is owned by insiders.

NYSE:GLW opened at $30.59 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.51 and a current ratio of 2.13. Corning Incorporated has a 52 week low of $26.11 and a 52 week high of $36.56. The firm has a market capitalization of $24.56 billion, a PE ratio of 18.16, a PEG ratio of 1.97 and a beta of 1.35.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, October 23rd. The electronics maker reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.03. Corning had a negative net margin of 5.86% and a positive return on equity of 13.22%. The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same period in the prior year, the firm posted $0.40 EPS. The company’s quarterly revenue was up 15.4% on a year-over-year basis. Equities research analysts forecast that Corning Incorporated will post 1.77 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 16th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.35%. The ex-dividend date is Thursday, November 15th. Corning’s dividend payout ratio is presently 41.86%.

Corning Company Profile

Corning Incorporated manufactures and sells specialty glasses, ceramics, and related materials in North America, the Asia Pacific, Europe, and internationally. The company operates through five segments: Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, and Life Sciences.

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Institutional Ownership by Quarter for Corning (NYSE:GLW)

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