Generali Investments Management Co LLC Buys Shares of 19,954 Corning Incorporated (NYSE:GLW)

Generali Investments Management Co LLC bought a new stake in Corning Incorporated (NYSE:GLW) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 19,954 shares of the electronics maker’s stock, valued at approximately $948,000.

Other institutional investors also recently made changes to their positions in the company. Amundi raised its position in shares of Corning by 139.0% during the 4th quarter. Amundi now owns 3,900,808 shares of the electronics maker’s stock valued at $186,186,000 after acquiring an additional 2,268,436 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Corning during the 4th quarter valued at approximately $92,522,000. Appaloosa LP acquired a new stake in shares of Corning during the 4th quarter valued at approximately $71,280,000. FMR LLC raised its position in shares of Corning by 52.8% during the 3rd quarter. FMR LLC now owns 3,723,044 shares of the electronics maker’s stock valued at $168,095,000 after acquiring an additional 1,285,836 shares in the last quarter. Finally, State Street Corp raised its position in shares of Corning by 3.8% during the 3rd quarter. State Street Corp now owns 33,983,090 shares of the electronics maker’s stock valued at $1,534,337,000 after acquiring an additional 1,242,718 shares in the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Corning

In related news, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $1,557,600.00. Following the transaction, the chief operating officer now directly owns 152,944 shares of the company’s stock, valued at $7,940,852.48. This represents a 16.40 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on GLW shares. Hsbc Global Res raised Corning from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 30th. Morgan Stanley upped their price objective on Corning from $39.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. Barclays lowered their price objective on Corning from $53.00 to $52.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. StockNews.com downgraded Corning from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Citigroup upped their price objective on Corning from $55.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $53.00.

Corning Trading Up 0.9 %

NYSE:GLW opened at $47.27 on Wednesday. Corning Incorporated has a 1 year low of $30.72 and a 1 year high of $55.33. The stock has a market cap of $40.49 billion, a price-to-earnings ratio of 81.49, a PEG ratio of 1.50 and a beta of 1.03. The business has a fifty day moving average of $49.84 and a 200-day moving average of $47.57. 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 (NYSE:GLW) last released its quarterly earnings results 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 return on equity of 15.10% and a net margin of 3.86%. Equities analysts predict that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Dividend Announcement

The company 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. The ex-dividend date is Friday, February 28th. This represents a $1.12 annualized dividend and a yield of 2.37%. Corning’s dividend payout ratio is currently 193.10%.

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.