15,504 Shares in Corning Incorporated (NYSE:GLW) Bought by Nomura Holdings Inc.

Nomura Holdings Inc. bought a new stake in Corning Incorporated (NYSE:GLW) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,504 shares of the electronics maker’s stock, valued at approximately $472,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. HighPoint Advisor Group LLC bought a new position in shares of Corning in the 4th quarter worth approximately $614,000. Cove Private Wealth LLC bought a new position in Corning in the fourth quarter worth approximately $669,000. Wahed Invest LLC boosted its stake in shares of Corning by 8.6% during the 4th quarter. Wahed Invest LLC now owns 12,982 shares of the electronics maker’s stock worth $395,000 after acquiring an additional 1,028 shares during the last quarter. SageView Advisory Group LLC bought a new stake in shares of Corning during the 4th quarter valued at $348,000. Finally, Fisher Asset Management LLC increased its stake in shares of Corning by 60.5% in the 4th quarter. Fisher Asset Management LLC now owns 16,647 shares of the electronics maker’s stock worth $507,000 after purchasing an additional 6,276 shares in the last quarter. 69.80% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP Jeffrey W. Evenson sold 12,830 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $37.39, for a total value of $479,713.70. Following the completion of the sale, the vice president now directly owns 57,280 shares of the company’s stock, valued at approximately $2,141,699.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Lewis A. Steverson sold 29,978 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $33.05, for a total value of $990,772.90. Following the sale, the executive vice president now directly owns 31,294 shares of the company’s stock, valued at approximately $1,034,266.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jeffrey W. Evenson sold 12,830 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $37.39, for a total transaction of $479,713.70. Following the completion of the sale, the vice president now directly owns 57,280 shares of the company’s stock, valued at approximately $2,141,699.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 175,207 shares of company stock worth $5,876,067. Corporate insiders own 0.40% of the company’s stock.

Corning Price Performance

NYSE:GLW opened at $40.05 on Friday. The company has a market capitalization of $34.31 billion, a P/E ratio of 56.41, a P/E/G ratio of 1.81 and a beta of 1.08. The business’s 50-day moving average is $35.17 and its 200 day moving average is $32.76. The company has a current ratio of 1.67, a quick ratio of 1.02 and a debt-to-equity ratio of 0.61. Corning Incorporated has a 12 month low of $25.26 and a 12 month high of $40.46.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, April 30th. The electronics maker reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Corning had a return on equity of 12.31% and a net margin of 4.96%. The firm had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the prior year, the company earned $0.41 EPS. The company’s quarterly revenue was down 11.5% compared to the same quarter last year. On average, equities research analysts forecast that Corning Incorporated will post 1.9 earnings per share for the current fiscal year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, May 31st will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.80%. The ex-dividend date is Friday, May 31st. Corning’s dividend payout ratio is 157.75%.

Wall Street Analysts Forecast Growth

GLW has been the topic of several analyst reports. Morgan Stanley downgraded Corning from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $35.00 to $38.00 in a research report on Thursday, June 13th. Citigroup boosted their price objective on Corning from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Friday. StockNews.com upgraded shares of Corning from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. Fox Advisors upgraded shares of Corning from an “equal weight” rating to an “overweight” rating and set a $45.00 price target for the company in a research report on Monday, June 17th. Finally, JPMorgan Chase & Co. upgraded shares of Corning from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $37.00 to $43.00 in a research report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Corning presently has an average rating of “Hold” and an average price target of $38.67.

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.