Rathbone Brothers plc grew its stake in Corning Incorporated (NYSE:GLW) by 2.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 83,489 shares of the electronics maker’s stock after acquiring an additional 2,250 shares during the quarter. Rathbone Brothers plc’s holdings in Corning were worth $2,763,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Oregon Public Employees Retirement Fund boosted its stake in shares of Corning by 3,727.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,633,848 shares of the electronics maker’s stock valued at $319,000 after buying an additional 9,382,148 shares during the period. Norges Bank acquired a new position in shares of Corning in the fourth quarter worth $237,310,000. Millennium Management LLC raised its holdings in shares of Corning by 2,813.1% in the fourth quarter. Millennium Management LLC now owns 3,329,159 shares of the electronics maker’s stock worth $100,574,000 after acquiring an additional 3,214,878 shares during the last quarter. FMR LLC raised its holdings in shares of Corning by 80.6% in the fourth quarter. FMR LLC now owns 6,653,290 shares of the electronics maker’s stock worth $200,997,000 after acquiring an additional 2,969,394 shares during the last quarter. Finally, Two Sigma Advisers LP raised its holdings in shares of Corning by 8,775.8% in the fourth quarter. Two Sigma Advisers LP now owns 2,306,385 shares of the electronics maker’s stock worth $69,676,000 after acquiring an additional 2,280,400 shares during the last quarter. 70.97% of the stock is owned by institutional investors and hedge funds.

Several equities analysts recently commented on the company. Zacks Investment Research upgraded Corning from a “sell” rating to a “hold” rating in a research note on Thursday, May 2nd. ValuEngine lowered Corning from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. Finally, Bank of America upgraded Corning from a “neutral” rating to a “buy” rating and set a $32.31 target price for the company in a research note on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $35.41.

Corning stock traded down $0.66 during trading on Thursday, hitting $29.70. The company’s stock had a trading volume of 102,864 shares, compared to its average volume of 5,626,727. The firm has a market capitalization of $23.83 billion, a P/E ratio of 17.06, a PEG ratio of 1.58 and a beta of 1.12. Corning Incorporated has a 1-year low of $26.23 and a 1-year high of $36.56. The company has a current ratio of 2.08, a quick ratio of 1.36 and a debt-to-equity ratio of 0.53.

Corning (NYSE:GLW) last released its earnings results on Tuesday, April 30th. The electronics maker reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.01. The firm had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.81 billion. Corning had a return on equity of 15.02% and a net margin of 18.57%. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.31 earnings per share. As a group, equities analysts predict that Corning Incorporated will post 1.97 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.80 annualized dividend and a yield of 2.69%. Corning’s dividend payout ratio is presently 44.94%.

In other Corning news, VP David L. Morse sold 36,664 shares of the company’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $35.00, for a total transaction of $1,283,240.00. Following the completion of the sale, the vice president now directly owns 47,527 shares in the company, valued at $1,663,445. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

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About Corning

Corning Incorporated engages in display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses worldwide. The company's Display Technologies segment manufactures glass substrates for organic light-emitting diodes and liquid crystal displays used in televisions, notebook computers, and flat panel desktop monitors.

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Institutional Ownership by Quarter for Corning (NYSE:GLW)

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