Marshall Wace LLP Has $77.30 Million Position in Corning Incorporated (NYSE:GLW)

Marshall Wace LLP raised its holdings in Corning Incorporated (NYSE:GLW - Free Report) by 80.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,626,646 shares of the electronics maker's stock after buying an additional 723,622 shares during the quarter. Marshall Wace LLP owned 0.19% of Corning worth $77,298,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Oregon Public Employees Retirement Fund raised its stake in Corning by 0.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 66,063 shares of the electronics maker's stock valued at $3,139,000 after purchasing an additional 204 shares during the last quarter. Principal Securities Inc. raised its stake in shares of Corning by 3.5% in the fourth quarter. Principal Securities Inc. now owns 6,170 shares of the electronics maker's stock valued at $293,000 after purchasing an additional 211 shares in the last quarter. Bogart Wealth LLC boosted its stake in Corning by 18.3% during the fourth quarter. Bogart Wealth LLC now owns 1,419 shares of the electronics maker's stock worth $67,000 after buying an additional 219 shares in the last quarter. Buffington Mohr McNeal raised its stake in shares of Corning by 2.1% in the 4th quarter. Buffington Mohr McNeal now owns 10,461 shares of the electronics maker's stock valued at $497,000 after buying an additional 220 shares in the last quarter. Finally, Allworth Financial LP boosted 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 in the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Corning news, SVP Michael Alan Bell sold 2,209 shares of the stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $49.87, for a total value of $110,162.83. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Eric S. Musser sold 30,000 shares of the firm's stock in a transaction on Friday, January 31st. The stock was 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 directly owns 152,944 shares in the company, valued at $7,940,852.48. The trade was a 16.40 % decrease in their position. The disclosure for this sale can be found here. 0.40% of the stock is owned by insiders.

Corning Trading Up 2.6 %

Shares of GLW traded up $1.05 on Tuesday, reaching $41.75. 1,049,994 shares of the company's stock were exchanged, compared to its average volume of 5,925,057. Corning Incorporated has a 12 month low of $31.20 and a 12 month high of $55.33. The stock has a market capitalization of $35.77 billion, a P/E ratio of 71.99, a price-to-earnings-growth 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 business has a 50 day moving average price of $46.19 and a two-hundred day moving average price of $47.66.

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 (EPS) 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%. Research analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on GLW shares. JPMorgan Chase & Co. decreased their price objective on Corning from $62.00 to $50.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Barclays cut their price objective on Corning from $53.00 to $52.00 and set an "equal weight" rating for the company in a report on Wednesday, January 29th. HSBC upgraded shares of Corning from a "hold" rating to a "buy" rating and increased their target price for the stock from $51.00 to $60.00 in a research report on Thursday, January 30th. StockNews.com lowered shares of 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 investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $53.31.

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.