Corning Incorporated (NYSE:GLW) Shares Bought by Caprock Group LLC

Caprock Group LLC grew its holdings in shares of Corning Incorporated (NYSE:GLW) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 28,229 shares of the electronics maker’s stock after purchasing an additional 301 shares during the period. Caprock Group LLC’s holdings in Corning were worth $1,341,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Sound Income Strategies LLC boosted its holdings in Corning by 76.7% during the fourth quarter. Sound Income Strategies LLC now owns 523 shares of the electronics maker’s stock worth $25,000 after buying an additional 227 shares in the last quarter. City Holding Co. lifted its position in shares of Corning by 545.5% in the 3rd quarter. City Holding Co. now owns 710 shares of the electronics maker’s stock valued at $32,000 after acquiring an additional 600 shares in the last quarter. Rosenberg Matthew Hamilton boosted its stake in Corning by 202.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 747 shares of the electronics maker’s stock worth $35,000 after purchasing an additional 500 shares during the period. Cassady Schiller Wealth Management LLC purchased a new position in Corning during the 3rd quarter worth approximately $39,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in Corning during the 3rd quarter valued at $40,000. 69.80% of the stock is currently owned by institutional investors.

Insider Transactions at Corning

In other Corning news, SVP John P. Bayne, Jr. sold 5,000 shares of the 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 sale, the senior vice president now directly 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 business’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $49.87, for a total transaction of $110,162.83. The disclosure for this sale can be found here. Insiders sold a total of 16,085 shares of company stock worth $787,836 over the last three months. 0.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their price target on Corning from $49.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. StockNews.com upgraded shares of Corning from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Hsbc Global Res raised shares of Corning from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Morgan Stanley raised their price target on Corning from $39.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. Finally, Citigroup lifted their price target on Corning from $55.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Corning presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.00.

Corning Stock Performance

NYSE:GLW opened at $52.11 on Monday. The firm has a market capitalization of $44.61 billion, a PE ratio of 89.84, a PEG ratio of 1.35 and a beta of 1.04. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.62. Corning Incorporated has a 1 year low of $30.72 and a 1 year high of $55.33. The firm’s fifty day simple moving average is $48.78 and its 200 day simple moving average is $45.68.

Corning (NYSE:GLW) last posted its quarterly earnings data on Wednesday, January 29th. The electronics maker reported $0.57 EPS for the quarter, topping analysts’ consensus estimates 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 anticipate that Corning Incorporated will post 2.3 EPS for the current year.

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.