Robeco Institutional Asset Management B.V. Has $17.78 Million Position in Corning Incorporated (NYSE:GLW)

Robeco Institutional Asset Management B.V. cut its holdings in shares of Corning Incorporated (NYSE:GLW) by 9.5% during the fourth quarter, Holdings Channel reports. The fund owned 374,214 shares of the electronics maker’s stock after selling 39,113 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Corning were worth $17,783,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Sound Income Strategies LLC increased its holdings in shares of Corning by 76.7% during the 4th quarter. Sound Income Strategies LLC now owns 523 shares of the electronics maker’s stock worth $25,000 after acquiring an additional 227 shares during the last quarter. City Holding Co. increased its holdings in shares of Corning by 545.5% during the 3rd quarter. City Holding Co. now owns 710 shares of the electronics maker’s stock worth $32,000 after acquiring an additional 600 shares during the last quarter. Rosenberg Matthew Hamilton increased its holdings in shares of Corning by 202.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 747 shares of the electronics maker’s stock worth $35,000 after acquiring an additional 500 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in Corning in the 4th quarter valued at $40,000. Finally, Cassady Schiller Wealth Management LLC bought a new stake in Corning in the 3rd quarter valued at $39,000. 69.80% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GLW has been the subject of several recent research reports. Hsbc Global Res upgraded Corning from a “hold” rating to a “strong-buy” rating in a research note on Thursday. JPMorgan Chase & Co. boosted their price target on Corning from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. HSBC upgraded Corning from a “hold” rating to a “buy” rating and boosted their price target for the company from $51.00 to $60.00 in a research note on Thursday. Citigroup boosted their price target on Corning from $55.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Finally, Barclays reduced their price target on Corning from $53.00 to $52.00 and set an “equal weight” rating for the company in a research note on Wednesday. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.00.

Corning Price Performance

Shares of GLW stock opened at $52.11 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 twelve month low of $30.72 and a twelve month high of $55.33. The company has a market cap of $44.61 billion, a P/E ratio of 89.84, a P/E/G ratio of 1.35 and a beta of 1.04. The business has a fifty day simple moving average of $48.71 and a 200 day simple moving average of $45.63.

Corning (NYSE:GLW) last announced its quarterly earnings data on Wednesday, January 29th. The electronics maker reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.01. Corning had a return on equity of 15.01% and a net margin of 3.86%. On average, sell-side analysts forecast that Corning Incorporated will post 2.3 EPS for the current fiscal year.

Insiders Place Their Bets

In other Corning news, SVP John P. Bayne, Jr. sold 5,000 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $48.39, for a total value of $241,950.00. Following the completion of the transaction, the senior vice president now owns 6,700 shares of the company’s stock, valued at $324,213. This represents a 42.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael Alan Bell sold 2,209 shares of the company’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $49.87, for a total value of $110,162.83. The disclosure for this sale can be found here. Insiders sold a total of 16,085 shares of company stock valued at $787,836 in the last 90 days. Corporate 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.