APG Asset Management N.V. Acquires 426,800 Shares of Corning Incorporated (NYSE:GLW)

APG Asset Management N.V. increased its stake in shares of Corning Incorporated (NYSE:GLW - Free Report) by 86.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 922,693 shares of the electronics maker's stock after buying an additional 426,800 shares during the period. APG Asset Management N.V. owned 0.11% of Corning worth $42,343,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of GLW. Oregon Public Employees Retirement Fund grew its position 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 purchasing an additional 204 shares in the last quarter. Principal Securities Inc. increased its stake in Corning by 3.5% during the 4th quarter. Principal Securities Inc. now owns 6,170 shares of the electronics maker's stock worth $293,000 after acquiring an additional 211 shares during the period. Bogart Wealth LLC raised its holdings in Corning by 18.3% in the 4th quarter. Bogart Wealth LLC now owns 1,419 shares of the electronics maker's stock valued at $67,000 after acquiring an additional 219 shares in the last quarter. Buffington Mohr McNeal lifted its position in shares of Corning by 2.1% during the 4th quarter. Buffington Mohr McNeal now owns 10,461 shares of the electronics maker's stock valued at $497,000 after acquiring an additional 220 shares during the period. Finally, Allworth Financial LP lifted its position in shares of Corning by 1.1% during the 4th quarter. Allworth Financial LP now owns 19,581 shares of the electronics maker's stock valued at $930,000 after acquiring an additional 220 shares during the period. Institutional investors and hedge funds own 69.80% of the company's stock.

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Analyst Ratings Changes

Several analysts recently issued reports on GLW shares. Bank of America increased their price target on shares of Corning from $65.00 to $68.00 and gave the stock a "buy" rating in a research report on Wednesday, March 19th. Barclays cut 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. Citigroup lifted their price target on Corning from $55.00 to $58.00 and gave the company a "buy" rating in a research note on Tuesday, January 21st. HSBC upgraded shares of Corning from a "hold" rating to a "buy" rating and raised their price objective for the company from $51.00 to $60.00 in a report on Thursday, January 30th. Finally, StockNews.com lowered shares of Corning from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Four investment 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $54.31.

Insider Buying and Selling at Corning

In other Corning news, SVP Michael Alan Bell sold 2,209 shares of the business's stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $49.87, for a total value of $110,162.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Eric S. Musser sold 30,000 shares of the business's stock in a transaction that occurred on Friday, January 31st. The shares were 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 $7,940,852.48. The trade was a 16.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.40% of the company's stock.

Corning Trading Up 1.1 %

Corning stock traded up $0.47 during trading hours on Monday, reaching $41.73. The stock had a trading volume of 1,233,241 shares, compared to its average volume of 6,309,147. The stock has a market cap of $35.75 billion, a PE ratio of 71.95, a PEG ratio of 1.50 and a beta of 1.03. The company has a fifty day simple moving average of $47.57 and a 200-day simple moving average of $47.81. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.62 and a quick ratio of 1.07. Corning Incorporated has a 52 week low of $30.72 and a 52 week high of $55.33.

Corning (NYSE:GLW - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The electronics maker reported $0.57 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.01. Corning had a return on equity of 15.10% and a net margin of 3.86%. Analysts forecast that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, February 28th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend was Friday, February 28th. Corning's dividend payout ratio (DPR) is presently 193.10%.

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.