Nomura Asset Management Co. Ltd. Has $16.08 Million Stock Holdings in Corning Incorporated (NYSE:GLW)

Nomura Asset Management Co. Ltd. increased its stake in Corning Incorporated (NYSE:GLW - Free Report) by 38.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 338,475 shares of the electronics maker's stock after buying an additional 94,837 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in Corning were worth $16,084,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quest Partners LLC acquired a new position in shares of Corning during the 3rd quarter worth about $106,000. FMR LLC increased its position in Corning by 52.8% during the third quarter. FMR LLC now owns 3,723,044 shares of the electronics maker's stock worth $168,095,000 after buying an additional 1,285,836 shares during the last quarter. Bridgewater Associates LP bought a new stake in Corning in the third quarter valued at approximately $6,939,000. CreativeOne Wealth LLC lifted its position in shares of Corning by 20.5% in the third quarter. CreativeOne Wealth LLC now owns 9,944 shares of the electronics maker's stock valued at $449,000 after buying an additional 1,689 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in shares of Corning by 13.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 27,824 shares of the electronics maker's stock worth $1,256,000 after acquiring an additional 3,400 shares during the period. 69.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on GLW shares. Hsbc Global Res raised Corning from a "hold" rating to a "strong-buy" rating in a report on Thursday, January 30th. Bank of America raised their target price on shares of Corning from $65.00 to $68.00 and gave the stock a "buy" rating in a research note on Wednesday, March 19th. Morgan Stanley increased their price target on shares of Corning from $39.00 to $48.00 and gave the company an "equal weight" rating in a report on Tuesday, December 17th. HSBC upgraded Corning from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $51.00 to $60.00 in a report on Thursday, January 30th. Finally, Barclays lowered their target price on Corning from $53.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Corning has a consensus rating of "Moderate Buy" and an average price target of $54.31.

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Corning Price Performance

Shares of Corning stock traded down $0.26 on Tuesday, reaching $45.53. 6,700,113 shares of the stock were exchanged, compared to its average volume of 5,767,063. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.62. The firm has a market cap of $39.00 billion, a PE ratio of 78.49, a P/E/G ratio of 1.50 and a beta of 1.03. The firm's 50 day moving average is $49.76 and its 200-day moving average is $47.98. Corning Incorporated has a one year low of $30.72 and a one year high of $55.33.

Corning (NYSE:GLW - Get Free Report) last issued its earnings results 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 return on equity of 15.10% and a net margin of 3.86%. As a group, analysts anticipate that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, February 28th were issued 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 2.46%. Corning's dividend payout ratio (DPR) is currently 193.10%.

Insider Activity

In other Corning news, COO Eric S. Musser sold 30,000 shares of the company's stock in a transaction dated 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 owns 152,944 shares in the company, valued at approximately $7,940,852.48. The trade was a 16.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Michael Alan Bell sold 2,209 shares of the business's stock in a transaction that occurred on 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. 0.40% of the stock is currently owned by corporate insiders.

Corning 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.