Corning Incorporated (NYSE:GLW) Stock Position Increased by FengHe Fund Management Pte. Ltd.

FengHe Fund Management Pte. Ltd. increased its holdings in Corning Incorporated (NYSE:GLW - Free Report) by 28.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 581,800 shares of the electronics maker's stock after purchasing an additional 127,500 shares during the quarter. Corning makes up approximately 8.2% of FengHe Fund Management Pte. Ltd.'s holdings, making the stock its 6th largest holding. FengHe Fund Management Pte. Ltd. owned about 0.07% of Corning worth $27,647,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Wellington Management Group LLP grew its stake in shares of Corning by 0.3% in the third quarter. Wellington Management Group LLP now owns 39,225,452 shares of the electronics maker's stock worth $1,771,029,000 after purchasing an additional 133,214 shares during the last quarter. State Street Corp boosted 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 valued at $1,534,337,000 after acquiring an additional 1,242,718 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Corning by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,853,076 shares of the electronics maker's stock valued at $219,116,000 after acquiring an additional 38,168 shares in the last quarter. FMR LLC boosted 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 valued at $168,095,000 after acquiring an additional 1,285,836 shares in the last quarter. Finally, Stifel Financial Corp boosted its position in Corning by 1.9% during the 3rd quarter. Stifel Financial Corp now owns 2,810,435 shares of the electronics maker's stock valued at $126,893,000 after acquiring an additional 52,667 shares in the last quarter. 69.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on GLW shares. Oppenheimer reaffirmed an "outperform" rating and set a $58.00 price objective (up from $51.00) on shares of Corning in a research report on Wednesday, October 30th. HSBC upgraded shares of Corning from a "hold" rating to a "buy" rating and lifted their target price for the company from $51.00 to $60.00 in a report on Thursday, January 30th. Barclays lowered their target price on shares of Corning from $53.00 to $52.00 and set an "equal weight" rating for the company in a report on Wednesday, January 29th. Hsbc Global Res upgraded shares of Corning from a "hold" rating to a "strong-buy" rating in a report on Thursday, January 30th. Finally, StockNews.com upgraded shares of Corning from a "hold" rating to a "buy" rating in a report on Tuesday, December 24th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $53.00.

Corning Stock Performance

NYSE:GLW traded down $0.81 during trading hours on Thursday, reaching $51.87. The company had a trading volume of 4,069,388 shares, compared to its average volume of 5,567,429. 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 Incorporated has a 52 week low of $30.72 and a 52 week high of $55.33. The firm has a market cap of $44.43 billion, a price-to-earnings ratio of 89.42, a PEG ratio of 1.53 and a beta of 1.03. The firm's 50 day moving average price is $49.79 and its 200-day moving average price is $46.58.

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

Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend is Friday, February 28th. Corning's payout ratio is 193.10%.

Insider Activity

In other news, SVP John P. Bayne, Jr. sold 8,876 shares of the business's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $49.09, for a total transaction of $435,722.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 disclosure for this sale can be found here. Insiders sold a total of 46,085 shares of company stock valued at $2,345,436 in the last 90 days. Company insiders own 0.40% of the company's stock.

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.