Generali Investments Management Co LLC Buys New Stake in Corning Incorporated (NYSE:GLW)

Generali Investments Management Co LLC bought a new stake in Corning Incorporated (NYSE:GLW - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 19,954 shares of the electronics maker's stock, valued at approximately $948,000.

Several other hedge funds and other institutional investors have also made changes to their positions in GLW. Amundi boosted its holdings in shares of Corning by 139.0% in the fourth quarter. Amundi now owns 3,900,808 shares of the electronics maker's stock valued at $186,186,000 after acquiring an additional 2,268,436 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Corning in the fourth quarter valued at about $92,522,000. Appaloosa LP purchased a new stake in shares of Corning in the fourth quarter valued at about $71,280,000. FMR LLC boosted 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 acquiring an additional 1,285,836 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of Corning by 3.8% in the third 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. Hedge funds and other institutional investors own 69.80% of the company's stock.

Corning Trading Down 0.4 %

Shares of NYSE:GLW traded down $0.18 during trading on Friday, reaching $48.49. The stock had a trading volume of 10,770,242 shares, compared to its average volume of 5,497,644. The business has a fifty day moving average price of $49.91 and a 200-day moving average price of $47.67. The company has a quick ratio of 1.07, a current ratio of 1.62 and a debt-to-equity ratio of 0.62. The stock has a market cap of $41.53 billion, a P/E ratio of 83.60, a PEG ratio of 1.50 and a beta of 1.03. Corning Incorporated has a fifty-two week low of $30.72 and a fifty-two week high of $55.33.

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Corning (NYSE:GLW - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The electronics maker reported $0.57 earnings per share for the quarter, beating 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, analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.31%. Corning's dividend payout ratio (DPR) is presently 193.10%.

Analyst Ratings Changes

GLW has been the topic of a number of research analyst reports. StockNews.com downgraded shares of Corning from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Citigroup boosted their price objective on shares of Corning from $55.00 to $58.00 and gave the stock a "buy" rating in a report on Tuesday, January 21st. Hsbc Global Res raised shares of Corning from a "hold" rating to a "strong-buy" rating in a report on Thursday, January 30th. Barclays decreased their price objective on shares of Corning from $53.00 to $52.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 29th. Finally, Bank of America upped their price target on shares of Corning from $65.00 to $68.00 and gave the company a "buy" rating in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Corning currently has an average rating of "Moderate Buy" and an average price target of $54.31.

Insider Buying and Selling at Corning

In other Corning news, COO Eric S. Musser sold 30,000 shares of Corning 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 transaction, the chief operating officer now owns 152,944 shares in the company, valued at $7,940,852.48. This trade represents a 16.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael Alan Bell sold 2,209 shares of Corning 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. 0.45% of the stock is owned by company insiders.

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.