Elo Mutual Pension Insurance Co Has $3.80 Million Stock Holdings in Corning Incorporated (NYSE:GLW)

Elo Mutual Pension Insurance Co grew its position in Corning Incorporated (NYSE:GLW - Free Report) by 11.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 79,922 shares of the electronics maker's stock after purchasing an additional 8,086 shares during the period. Elo Mutual Pension Insurance Co's holdings in Corning were worth $3,798,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Amundi grew its position in Corning by 139.0% during the 4th quarter. Amundi now owns 3,900,808 shares of the electronics maker's stock worth $186,186,000 after acquiring an additional 2,268,436 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Corning during the fourth quarter worth $92,522,000. Appaloosa LP acquired a new stake in shares of Corning in the fourth quarter valued at $71,280,000. FMR LLC raised its holdings in shares of Corning by 52.8% in the third quarter. FMR LLC now owns 3,723,044 shares of the electronics maker's stock valued at $168,095,000 after buying an additional 1,285,836 shares during the last quarter. Finally, State Street Corp lifted its position in Corning by 3.8% during the 3rd quarter. State Street Corp now owns 33,983,090 shares of the electronics maker's stock worth $1,534,337,000 after buying an additional 1,242,718 shares in the last quarter. Institutional investors and hedge funds own 69.80% of the company's stock.

Corning Trading Down 0.8 %

Shares of NYSE GLW traded down $0.39 during midday trading on Tuesday, reaching $45.39. 4,282,079 shares of the stock were exchanged, compared to its average volume of 5,758,383. Corning Incorporated has a 12 month low of $30.72 and a 12 month high of $55.33. The company has a market capitalization of $38.89 billion, a price-to-earnings ratio of 78.12, a P/E/G ratio of 1.50 and a beta of 1.03. 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 business has a 50-day simple moving average of $49.76 and a two-hundred day simple moving average of $47.98.

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Corning (NYSE:GLW - Get Free Report) last posted its earnings results on Wednesday, January 29th. The electronics maker reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.01. Corning had a return on equity of 15.10% and a net margin of 3.86%. As a group, equities research analysts expect that Corning Incorporated will post 2.33 EPS 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 issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.12 annualized dividend and a yield of 2.47%. Corning's dividend payout ratio (DPR) is currently 193.10%.

Insider Buying and Selling at Corning

In other Corning news, SVP Michael Alan Bell sold 2,209 shares of Corning 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Eric S. Musser sold 30,000 shares of the business's stock in a transaction dated 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 completion of 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 disclosure for this sale can be found here. Insiders own 0.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GLW. Morgan Stanley boosted their target price on shares of Corning from $39.00 to $48.00 and gave the stock an "equal weight" rating in a research note on Tuesday, December 17th. Barclays reduced 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. HSBC upgraded Corning from a "hold" rating to a "buy" rating and boosted their target price for the stock from $51.00 to $60.00 in a research report on Thursday, January 30th. StockNews.com cut Corning from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Finally, Hsbc Global Res raised Corning from a "hold" rating to a "strong-buy" rating in a report on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $54.31.

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.