Natixis Advisors LLC Increases Stock Position in Corning Incorporated (NYSE:GLW)

Natixis Advisors LLC grew its holdings in Corning Incorporated (NYSE:GLW - Free Report) by 6.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 305,920 shares of the electronics maker's stock after acquiring an additional 18,767 shares during the period. Natixis Advisors LLC's holdings in Corning were worth $14,537,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Sound Income Strategies LLC boosted its holdings in Corning by 76.7% during the fourth quarter. Sound Income Strategies LLC now owns 523 shares of the electronics maker's stock worth $25,000 after buying an additional 227 shares in the last quarter. Sierra Ocean LLC purchased a new stake in Corning during the fourth quarter worth $25,000. Asset Planning Inc purchased a new stake in Corning during the fourth quarter worth $29,000. Rosenberg Matthew Hamilton boosted its holdings in Corning by 202.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 747 shares of the electronics maker's stock worth $35,000 after buying an additional 500 shares in the last quarter. Finally, Mainstream Capital Management LLC purchased a new stake in Corning during the fourth quarter worth $35,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

Corning Price Performance

Shares of NYSE GLW traded down $0.18 during mid-day trading on Friday, reaching $48.49. The company's stock had a trading volume of 10,770,242 shares, compared to its average volume of 5,497,644. The stock has a 50-day moving average of $49.91 and a two-hundred day moving average of $47.67. The stock has a market capitalization of $41.53 billion, a P/E ratio of 83.60, 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 quick ratio of 1.07 and a current ratio of 1.62. Corning Incorporated has a 1-year low of $30.72 and a 1-year high of $55.33.

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Corning (NYSE:GLW - Get Free Report) last released its quarterly earnings data 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 net margin of 3.86% and a return on equity of 15.10%. On average, equities research analysts anticipate that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.31%. The ex-dividend date is Friday, February 28th. Corning's payout ratio is currently 193.10%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on GLW shares. Bank of America increased their price target on shares of Corning from $65.00 to $68.00 and gave the stock a "buy" rating in a report on Wednesday. Citigroup increased their price target 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 upgraded shares of Corning from a "hold" rating to a "buy" rating and upped their price objective for the stock from $51.00 to $60.00 in a research report on Thursday, January 30th. StockNews.com cut shares of Corning from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Finally, Barclays reduced their price objective on shares of Corning from $53.00 to $52.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Corning has an average rating of "Moderate Buy" and a consensus price target of $54.31.

Insider Buying and Selling

In related news, COO Eric S. Musser sold 30,000 shares of the firm's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $51.92, for a total transaction of $1,557,600.00. Following the completion of the sale, the chief operating officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael Alan Bell sold 2,209 shares of the firm's stock in a transaction dated Thursday, January 30th. The stock was 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.

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.