Thompson Siegel & Walmsley LLC Invests $202,000 in Corning Incorporated (NYSE:GLW)

Thompson Siegel & Walmsley LLC bought a new position in Corning Incorporated (NYSE:GLW) in the 4th quarter, Holdings Channel.com reports. The fund bought 4,255 shares of the electronics maker’s stock, valued at approximately $202,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sound Income Strategies LLC increased its position in shares of Corning by 76.7% in the 4th quarter. Sound Income Strategies LLC now owns 523 shares of the electronics maker’s stock worth $25,000 after purchasing an additional 227 shares during the last quarter. Sierra Ocean LLC acquired a new position in shares of Corning in the 4th quarter valued at about $25,000. Asset Planning Inc acquired a new position in shares of Corning in the 4th quarter valued at about $29,000. Rosenberg Matthew Hamilton boosted its holdings in shares of Corning by 202.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 747 shares of the electronics maker’s stock valued at $35,000 after buying an additional 500 shares during the period. Finally, Mainstream Capital Management LLC acquired a new position in shares of Corning in the 4th quarter valued at about $35,000. Institutional investors own 69.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Morgan Stanley lifted 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. Citigroup lifted their price target on shares of Corning from $55.00 to $58.00 and gave the company 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. StockNews.com lowered shares of Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, HSBC raised shares of Corning from a “hold” rating to a “buy” rating and boosted their target price for the company from $51.00 to $60.00 in a research note on Thursday, January 30th. 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. According to MarketBeat.com, Corning has a consensus rating of “Moderate Buy” and an average target price of $53.00.

Corning Trading Up 2.8 %

Shares of NYSE:GLW opened at $46.86 on Friday. The company has a 50 day moving average of $49.88 and a 200-day moving average of $47.43. The firm has a market cap of $40.13 billion, a P/E ratio of 80.79, a P/E/G ratio of 1.50 and a beta of 1.03. Corning Incorporated has a twelve month low of $30.72 and a twelve month high of $55.33. The company has a current ratio of 1.62, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last issued its quarterly earnings results on Wednesday, January 29th. The electronics maker reported $0.57 earnings per share for the quarter, topping 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 firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Friday, February 28th. Corning’s dividend payout ratio is presently 193.10%.

Insider Activity at Corning

In other news, SVP Michael Alan Bell sold 2,209 shares of the business’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $49.87, for a total transaction of $110,162.83. The sale 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 business’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. This trade represents a 16.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.

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.