Corning Incorporated (NYSE:GLW) Shares Acquired by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC raised its stake in shares of Corning Incorporated (NYSE:GLW) by 3.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 417,631 shares of the electronics maker’s stock after purchasing an additional 12,945 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Corning were worth $19,846,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Magnus Financial Group LLC purchased a new stake in shares of Corning during the 4th quarter worth about $308,000. Viking Fund Management LLC grew its stake in Corning by 8.7% during the fourth quarter. Viking Fund Management LLC now owns 250,000 shares of the electronics maker’s stock worth $11,880,000 after buying an additional 20,000 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Corning by 223.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 856,878 shares of the electronics maker’s stock worth $40,719,000 after acquiring an additional 592,187 shares in the last quarter. Simon Quick Advisors LLC raised its stake in shares of Corning by 34.2% in the 4th quarter. Simon Quick Advisors LLC now owns 6,113 shares of the electronics maker’s stock valued at $290,000 after acquiring an additional 1,558 shares during the period. Finally, Sheets Smith Wealth Management acquired a new stake in Corning in the 4th quarter valued at $207,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Corning Stock Up 0.5 %

Shares of NYSE:GLW opened at $54.22 on Friday. Corning Incorporated has a 1-year low of $30.51 and a 1-year high of $54.53. The company’s fifty day moving average is $48.47 and its two-hundred day moving average is $45.48. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.05 and a current ratio of 1.66. The stock has a market capitalization of $46.43 billion, a price-to-earnings ratio of 318.96, a price-to-earnings-growth ratio of 1.46 and a beta of 1.04.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, October 29th. The electronics maker reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. The firm had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Corning had a net margin of 1.24% and a return on equity of 13.45%. Corning’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the company posted $0.45 earnings per share. Equities analysts anticipate that Corning Incorporated will post 1.95 EPS for the current year.

Insider Buying and Selling

In other Corning news, SVP John P. Bayne, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president now owns 6,700 shares in the company, valued at approximately $324,213. This trade represents a 42.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John P. Bayne, Jr. sold 8,876 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was 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. 0.40% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently commented on GLW shares. Morgan Stanley boosted their price target on Corning from $39.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. JPMorgan Chase & Co. upped their target price on shares of Corning from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. StockNews.com raised shares of Corning from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Barclays upped their price objective on shares of Corning from $40.00 to $53.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $58.00 target price (up from $51.00) on shares of Corning in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Corning presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.31.

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.