GSA Capital Partners LLP bought a new position in shares of Corning Incorporated (NYSE:GLW) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 7,455 shares of the electronics maker’s stock, valued at approximately $223,000.

Other institutional investors have also added to or reduced their stakes in the company. Caxton Associates LP lifted its holdings in Corning by 23.6% during the 2nd quarter. Caxton Associates LP now owns 20,400 shares of the electronics maker’s stock worth $613,000 after buying an additional 3,900 shares in the last quarter. Wealthsource Partners LLC acquired a new stake in Corning during the 3rd quarter worth approximately $281,000. Princeton Capital Management Inc. lifted its holdings in Corning by 20.0% during the 3rd quarter. Princeton Capital Management Inc. now owns 214,019 shares of the electronics maker’s stock worth $6,403,000 after buying an additional 35,634 shares in the last quarter. Sei Investments Co. lifted its holdings in Corning by 22.2% during the 3rd quarter. Sei Investments Co. now owns 546,661 shares of the electronics maker’s stock worth $16,356,000 after buying an additional 99,318 shares in the last quarter. Finally, AJO LP lifted its holdings in Corning by 233.1% during the 2nd quarter. AJO LP now owns 1,462,104 shares of the electronics maker’s stock worth $43,936,000 after buying an additional 1,023,184 shares in the last quarter. Institutional investors own 72.11% of the company’s stock.

In other Corning news, CEO Wendell P. Weeks sold 248,857 shares of the firm’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $31.37, for a total transaction of $7,806,644.09. Following the transaction, the chief executive officer now directly owns 65,333 shares of the company’s stock, valued at approximately $2,049,496.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Deborah Rieman sold 2,083 shares of the firm’s stock in a transaction 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 $3,309,135.36. The disclosure for this sale can be found here. Insiders have sold a total of 348,320 shares of company stock worth $10,996,824 over the last quarter. 0.59% of the stock is owned by company insiders.

Shares of Corning Incorporated (GLW) opened at $34.66 on Friday. Corning Incorporated has a one year low of $24.13 and a one year high of $34.69. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.14 and a current ratio of 2.69. The company has a market cap of $29,339.38, a price-to-earnings ratio of 19.40, a P/E/G ratio of 2.76 and a beta of 1.33.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, October 24th. The electronics maker reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.02. Corning had a net margin of 24.98% and a return on equity of 11.53%. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.59 billion. During the same period last year, the business earned $0.42 EPS. Corning’s revenue for the quarter was up 4.0% compared to the same quarter last year. analysts predict that Corning Incorporated will post 1.7 earnings per share for the current fiscal year.

A number of equities research analysts have recently weighed in on GLW shares. Oppenheimer restated a “hold” rating on shares of Corning in a report on Wednesday, October 25th. Citigroup raised their price objective on shares of Corning from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, October 25th. Guggenheim restated a “buy” rating and issued a $35.00 price objective on shares of Corning in a report on Thursday, September 21st. ValuEngine upgraded shares of Corning from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Zacks Investment Research lowered shares of Corning from a “buy” rating to a “hold” rating in a report on Friday, December 22nd. Two analysts have rated the stock with a sell rating, ten have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Corning currently has a consensus rating of “Hold” and an average target price of $30.48.

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Corning Profile

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).

Institutional Ownership by Quarter for Corning (NYSE:GLW)

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