Corning Incorporated (NYSE:GLW) Shares Bought by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P lifted its holdings in shares of Corning Incorporated (NYSE:GLW) by 196.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,033 shares of the electronics maker’s stock after acquiring an additional 684 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Corning were worth $49,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in GLW. Northstar Advisory Group LLC lifted its stake in shares of Corning by 258.4% during the fourth quarter. Northstar Advisory Group LLC now owns 123,808 shares of the electronics maker’s stock worth $5,883,000 after purchasing an additional 89,268 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Corning by 48.4% during the 3rd quarter. Franklin Resources Inc. now owns 191,648 shares of the electronics maker’s stock valued at $8,975,000 after buying an additional 62,514 shares during the period. FMR LLC lifted its position in Corning by 52.8% during the 3rd quarter. FMR LLC now owns 3,723,044 shares of the electronics maker’s stock worth $168,095,000 after acquiring an additional 1,285,836 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Corning by 16.8% in the 4th quarter. Fifth Third Bancorp now owns 111,448 shares of the electronics maker’s stock worth $5,296,000 after acquiring an additional 16,001 shares during the period. Finally, First Financial Bank Trust Division grew its position in Corning by 27.5% in the fourth quarter. First Financial Bank Trust Division now owns 138,153 shares of the electronics maker’s stock valued at $6,565,000 after acquiring an additional 29,790 shares in the last quarter. 69.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Michael Alan Bell sold 2,209 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $49.87, for a total transaction of $110,162.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Eric S. Musser sold 30,000 shares of the company’s stock in a transaction dated 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 owns 152,944 shares of the company’s stock, valued at $7,940,852.48. This represents a 16.40 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company’s stock.

Corning Price Performance

Shares of NYSE GLW opened at $45.91 on Monday. The business has a 50 day simple moving average of $49.84 and a 200-day simple moving average of $47.95. Corning Incorporated has a twelve month low of $30.72 and a twelve month high of $55.33. The company has a market capitalization of $39.33 billion, a price-to-earnings ratio of 79.16, a price-to-earnings-growth ratio of 1.50 and a beta of 1.03. The company has a current ratio of 1.62, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last issued its earnings results on Wednesday, January 29th. The electronics maker reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.01. Corning had a net margin of 3.86% and a return on equity of 15.10%. As a group, equities research analysts expect that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, February 28th were paid a $0.28 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.12 dividend on an annualized basis and a yield of 2.44%. Corning’s payout ratio is currently 193.10%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Morgan Stanley upped their target price on shares of Corning from $39.00 to $48.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. StockNews.com cut shares of Corning from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. HSBC raised Corning from a “hold” rating to a “buy” rating and lifted their target price for the stock from $51.00 to $60.00 in a research report on Thursday, January 30th. Hsbc Global Res raised Corning from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 30th. Finally, Barclays dropped their price objective on Corning from $53.00 to $52.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $54.31.

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.