Webster Bank N. A. reduced its stake in shares of Corning Incorporated (NYSE:GLW) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,204 shares of the electronics maker’s stock after selling 625 shares during the period. Webster Bank N. A.’s holdings in Corning were worth $996,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Johanson Financial Advisors Inc. purchased a new position in shares of Corning during the 4th quarter worth about $651,000. First Hawaiian Bank lifted its holdings in shares of Corning by 14.0% during the 4th quarter. First Hawaiian Bank now owns 44,033 shares of the electronics maker’s stock worth $1,282,000 after acquiring an additional 5,405 shares during the period. HNP Capital LLC purchased a new position in shares of Corning during the 4th quarter worth about $269,000. DNB Asset Management AS lifted its holdings in shares of Corning by 11.6% during the 4th quarter. DNB Asset Management AS now owns 93,743 shares of the electronics maker’s stock worth $2,729,000 after acquiring an additional 9,720 shares during the period. Finally, Allred Capital Management LLC purchased a new position in shares of Corning during the 4th quarter worth about $76,000. Institutional investors and hedge funds own 73.54% of the company’s stock.

Several research analysts recently commented on GLW shares. ValuEngine lowered shares of Corning from a “buy” rating to a “hold” rating in a report on Wednesday, December 4th. Argus set a $42.00 price target on shares of Corning and gave the company a “buy” rating in a report on Wednesday, September 18th. UBS Group cut their price target on shares of Corning from $33.00 to $30.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Deutsche Bank lowered shares of Corning from a “buy” rating to a “hold” rating and cut their price target for the company from $33.00 to $30.00 in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. set a $30.00 price target on shares of Corning and gave the company a “hold” rating in a report on Tuesday, September 17th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Corning presently has a consensus rating of “Hold” and a consensus price target of $32.55.

GLW stock opened at $30.11 on Wednesday. Corning Incorporated has a twelve month low of $26.75 and a twelve month high of $35.34. The company has a current ratio of 1.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $23.38 billion, a P/E ratio of 16.92, a PEG ratio of 2.02 and a beta of 1.14. The firm has a 50 day simple moving average of $29.03 and a 200-day simple moving average of $29.59.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, October 29th. The electronics maker reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.04. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.87 billion. Corning had a net margin of 10.41% and a return on equity of 15.19%. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.51 earnings per share. On average, research analysts predict that Corning Incorporated will post 1.74 EPS for the current year.

In other Corning news, VP Lewis A. Steverson sold 63,381 shares of Corning stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $30.19, for a total value of $1,913,472.39. Following the completion of the transaction, the vice president now owns 18,422 shares of the company’s stock, valued at $556,160.18. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Christine M. Pambianchi sold 1,000 shares of Corning stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $29.78, for a total transaction of $29,780.00. Following the completion of the transaction, the vice president now directly owns 58,036 shares of the company’s stock, valued at approximately $1,728,312.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 82,325 shares of company stock valued at $2,481,690. 0.46% of the stock is currently owned by corporate insiders.

About Corning

Corning Incorporated engages in display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses worldwide. The company's Display Technologies segment manufactures glass substrates for organic light-emitting diodes and liquid crystal displays used in televisions, notebook computers, and flat panel desktop monitors.

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Institutional Ownership by Quarter for Corning (NYSE:GLW)

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