Corning Incorporated (NYSE:GLW) Shares Acquired by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. increased its position in Corning Incorporated (NYSE:GLW) by 22.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 24,662 shares of the electronics maker’s stock after acquiring an additional 4,521 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Corning were worth $1,113,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of GLW. Empowered Funds LLC raised its position in shares of Corning by 35.4% in the first quarter. Empowered Funds LLC now owns 19,431 shares of the electronics maker’s stock valued at $640,000 after buying an additional 5,081 shares during the last quarter. Bleakley Financial Group LLC increased its position in Corning by 4.9% during the first quarter. Bleakley Financial Group LLC now owns 9,984 shares of the electronics maker’s stock worth $329,000 after purchasing an additional 464 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Corning by 11.2% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 109,264 shares of the electronics maker’s stock worth $3,601,000 after purchasing an additional 10,980 shares during the last quarter. Kingsview Wealth Management LLC increased its position in Corning by 5.2% during the first quarter. Kingsview Wealth Management LLC now owns 37,125 shares of the electronics maker’s stock worth $1,224,000 after purchasing an additional 1,830 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in Corning by 0.5% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 444,777 shares of the electronics maker’s stock worth $14,659,000 after purchasing an additional 2,079 shares during the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Stock Down 0.6 %

GLW stock opened at $46.49 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.62. Corning Incorporated has a fifty-two week low of $27.57 and a fifty-two week high of $51.03. The firm’s 50-day simple moving average is $45.63 and its 200 day simple moving average is $41.37. The stock has a market cap of $39.81 billion, a PE ratio of 273.47, a price-to-earnings-growth ratio of 1.51 and a beta of 1.03.

Corning (NYSE:GLW) last released its quarterly earnings data on Tuesday, October 29th. The electronics maker reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. Corning had a net margin of 1.24% and a return on equity of 13.45%. The business had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter last year, the company earned $0.45 EPS. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, sell-side analysts predict that Corning Incorporated will post 1.95 EPS for the current year.

Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, November 15th. This represents a $1.12 annualized dividend and a dividend yield of 2.41%. Corning’s dividend payout ratio (DPR) is 658.82%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. UBS Group upped their price target on shares of Corning from $46.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Morgan Stanley reiterated an “equal weight” rating and set a $39.00 price objective on shares of Corning in a research note on Friday, July 26th. Oppenheimer reiterated an “outperform” rating and set a $58.00 price objective (up from $51.00) on shares of Corning in a research note on Wednesday, October 30th. StockNews.com upgraded shares of Corning from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Corning from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $50.08.

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.