Ossiam Has $1.42 Million Position in Corning Incorporated (NYSE:GLW)

Ossiam raised its position in shares of Corning Incorporated (NYSE:GLW - Free Report) by 4,497.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,931 shares of the electronics maker's stock after purchasing an additional 29,280 shares during the period. Ossiam's holdings in Corning were worth $1,422,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of GLW. BI Asset Management Fondsmaeglerselskab A S grew its holdings in Corning by 95.7% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 57,768 shares of the electronics maker's stock worth $2,745,000 after buying an additional 28,249 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Corning by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,800,573 shares of the electronics maker's stock worth $465,723,000 after acquiring an additional 78,497 shares during the period. First Trust Advisors LP grew its stake in shares of Corning by 2.5% in the fourth quarter. First Trust Advisors LP now owns 1,310,923 shares of the electronics maker's stock worth $62,295,000 after purchasing an additional 31,933 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Corning by 238.6% during the fourth quarter. Canada Pension Plan Investment Board now owns 296,677 shares of the electronics maker's stock valued at $14,098,000 after purchasing an additional 209,054 shares during the period. Finally, GKV Capital Management Co. Inc. bought a new stake in shares of Corning during the fourth quarter valued at about $1,069,000. Institutional investors own 69.80% of the company's stock.

Corning Stock Up 0.7 %

NYSE GLW traded up $0.30 during trading on Friday, reaching $44.18. 3,765,308 shares of the company's stock were exchanged, compared to its average volume of 6,275,152. The firm has a market capitalization of $37.85 billion, a PE ratio of 76.17, a P/E/G 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. The company's fifty day simple moving average is $45.62 and its 200-day simple moving average is $47.58. Corning Incorporated has a fifty-two week low of $31.28 and a fifty-two week high of $55.33.

Corning (NYSE:GLW - Get Free Report) last posted its quarterly 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 return on equity of 15.10% and a net margin of 3.86%. Sell-side analysts predict that Corning Incorporated will post 2.33 EPS for the current year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, February 28th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.12 dividend on an annualized basis and a yield of 2.54%. Corning's payout ratio is currently 193.10%.

Analysts Set New Price Targets

Several research firms have commented on GLW. JPMorgan Chase & Co. lowered their target price on shares of Corning from $62.00 to $50.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. 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 research note on Thursday, January 30th. Citigroup cut their target price on Corning from $58.00 to $50.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Barclays lowered their price target on Corning from $53.00 to $52.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 29th. Finally, StockNews.com lowered 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 assigned a strong buy rating to the company. Based on data from MarketBeat, Corning currently has an average rating of "Moderate Buy" and an average price target of $53.31.

Insider Buying and Selling

In other news, COO Eric S. Musser sold 30,000 shares of the firm's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $51.92, for a total value of $1,557,600.00. Following the sale, the chief operating officer now owns 152,944 shares in the company, 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 legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Michael Alan Bell sold 2,209 shares of the 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. 0.40% of the stock is owned by insiders.

Corning 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.