Quantitative Systematic Strategies LLC purchased a new stake in Corning Incorporated (NYSE:GLW) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 16,091 shares of the electronics maker’s stock, valued at approximately $515,000.

Several other institutional investors have also made changes to their positions in GLW. MPS Loria Financial Planners LLC purchased a new position in shares of Corning in the 2nd quarter valued at about $112,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of Corning by 241.6% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 3,747 shares of the electronics maker’s stock valued at $112,000 after purchasing an additional 2,650 shares in the last quarter. Cable Hill Partners LLC increased its stake in shares of Corning by 1,041.3% in the 3rd quarter. Cable Hill Partners LLC now owns 5,273 shares of the electronics maker’s stock valued at $158,000 after purchasing an additional 4,811 shares in the last quarter. Bank of Nova Scotia Trust Co. purchased a new position in shares of Corning in the 3rd quarter valued at about $163,000. Finally, IHT Wealth Management LLC increased its stake in shares of Corning by 13.4% in the 2nd quarter. IHT Wealth Management LLC now owns 4,117 shares of the electronics maker’s stock valued at $165,000 after purchasing an additional 485 shares in the last quarter. Hedge funds and other institutional investors own 72.11% of the company’s stock.

Several equities analysts recently weighed in on GLW shares. Guggenheim restated a “buy” rating and issued a $35.00 price target on shares of Corning in a research note on Tuesday, October 24th. Zacks Investment Research lowered Corning from a “hold” rating to a “sell” rating in a research note on Friday, October 20th. Citigroup lifted their price target on Corning from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, October 25th. Deutsche Bank lifted their price target on Corning from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. Finally, Barclays set a $38.00 price target on Corning and gave the company a “buy” rating in a research note on Wednesday, January 10th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $31.47.

In other news, Director Deborah Rieman sold 2,083 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $32.16, for a total transaction of $66,989.28. Following the transaction, the director now directly owns 102,896 shares in the company, valued at approximately $3,309,135.36. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Vice Chairman Lawrence D. Mcrae sold 51,676 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $32.42, for a total value of $1,675,335.92. Following the transaction, the insider now owns 136,032 shares in the company, valued at $4,410,157.44. The disclosure for this sale can be found here. Insiders own 0.59% of the company’s stock.

Shares of Corning Incorporated (NYSE GLW) opened at $29.78 on Tuesday. The company has a quick ratio of 2.22, a current ratio of 2.75 and a debt-to-equity ratio of 0.35. Corning Incorporated has a twelve month low of $26.31 and a twelve month high of $35.10. The stock has a market capitalization of $27,184.12, a PE ratio of -38.18, a P/E/G ratio of 4.68 and a beta of 1.34.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, January 30th. The electronics maker reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.02. Corning had a positive return on equity of 11.62% and a negative net margin of 4.91%. The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same period in the previous year, the firm posted $0.50 EPS. Corning’s revenue was up 7.4% compared to the same quarter last year. equities research analysts anticipate that Corning Incorporated will post 1.67 earnings per share for the current year.

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About Corning

Corning Incorporated is engaged in manufacturing specialty glass and ceramics. Its segments include Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, Life Sciences and All Other. The Display Technologies segment manufactures glass substrates for flat panel liquid crystal displays (LCDs).

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Institutional Ownership by Quarter for Corning (NYSE:GLW)

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