Corning Incorporated (NYSE:GLW) Shares Purchased by Hunter Associates Investment Management LLC

Hunter Associates Investment Management LLC increased its holdings in Corning Incorporated (NYSE:GLW) by 11.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 74,845 shares of the electronics maker’s stock after purchasing an additional 7,860 shares during the quarter. Hunter Associates Investment Management LLC’s holdings in Corning were worth $3,563,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Sound Income Strategies LLC lifted its position 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 valued at $25,000 after buying an additional 227 shares in the last quarter. City Holding Co. lifted its holdings in Corning by 545.5% during the third quarter. City Holding Co. now owns 710 shares of the electronics maker’s stock valued at $32,000 after purchasing an additional 600 shares in the last quarter. Rosenberg Matthew Hamilton grew its position in shares of Corning by 202.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 747 shares of the electronics maker’s stock valued at $35,000 after purchasing an additional 500 shares during the period. Union Bancaire Privee UBP SA acquired a new position in shares of Corning during the 4th quarter worth about $40,000. Finally, Cassady Schiller Wealth Management LLC purchased a new position in Corning in the 3rd quarter valued at about $39,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Corning Trading Up 0.3 %

Shares of GLW stock opened at $49.93 on Friday. Corning Incorporated has a 1-year low of $30.72 and a 1-year high of $55.33. The firm has a market cap of $42.75 billion, a PE ratio of 86.08, a price-to-earnings-growth ratio of 1.35 and a beta of 1.04. The company has a 50-day moving average of $48.67 and a two-hundred day moving average of $45.60. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.66 and a quick ratio of 1.05.

Corning (NYSE:GLW) last posted its quarterly earnings data 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 15.01%. On average, analysts predict that Corning Incorporated will post 2.3 EPS for the current year.

Wall Street Analysts Forecast Growth

GLW has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their target price on Corning from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. UBS Group increased their price objective on Corning from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Oppenheimer reaffirmed an “outperform” rating and set a $58.00 target price (up previously from $51.00) on shares of Corning in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Corning from $49.00 to $54.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, HSBC upgraded Corning from a “hold” rating to a “buy” rating and boosted their target price for the stock from $51.00 to $60.00 in a report on Thursday. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $53.00.

Insider Activity at Corning

In other Corning news, SVP John P. Bayne, Jr. sold 5,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were 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 in the company, valued at $324,213. The trade was a 42.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP John P. Bayne, Jr. sold 8,876 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $49.09, for a total value of $435,722.84. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.

About Corning

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.