Boenning & Scattergood Inc. boosted its position in Corning Incorporated (NYSE:GLW) by 9.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 98,900 shares of the electronics maker’s stock after acquiring an additional 8,931 shares during the period. Boenning & Scattergood Inc.’s holdings in Corning were worth $2,879,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Pflug Koory LLC raised its stake in Corning by 47.7% in the 4th quarter. Pflug Koory LLC now owns 15,200 shares of the electronics maker’s stock valued at $442,000 after acquiring an additional 4,910 shares during the period. Bridge Creek Capital Management LLC raised its stake in Corning by 3.6% in the 4th quarter. Bridge Creek Capital Management LLC now owns 108,877 shares of the electronics maker’s stock valued at $3,169,000 after acquiring an additional 3,760 shares during the period. Corbenic Partners LLC bought a new stake in Corning in the 4th quarter valued at about $3,918,000. Johanson Financial Advisors Inc. bought a new stake in Corning in the 4th quarter valued at about $651,000. Finally, First Hawaiian Bank raised its stake in Corning by 14.0% in the 4th quarter. First Hawaiian Bank now owns 44,033 shares of the electronics maker’s stock valued at $1,282,000 after acquiring an additional 5,405 shares during the period. Institutional investors and hedge funds own 73.54% of the company’s stock.

Shares of NYSE GLW traded down $0.17 during midday trading on Wednesday, hitting $29.94. 275,450 shares of the company’s stock were exchanged, compared to its average volume of 6,108,650. Corning Incorporated has a 12-month low of $26.75 and a 12-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 cap of $23.38 billion, a price-to-earnings ratio of 16.83, a PEG ratio of 2.02 and a beta of 1.14. The business’s fifty day moving average price is $29.03 and its two-hundred day moving average price is $29.59.

Corning (NYSE:GLW) last issued its quarterly earnings data on Tuesday, October 29th. The electronics maker reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.04. Corning had a return on equity of 15.19% and a net margin of 10.41%. The company had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.87 billion. During the same quarter in the previous year, the firm earned $0.51 earnings per share. Corning’s revenue was down 2.5% on a year-over-year basis. Equities analysts expect that Corning Incorporated will post 1.74 earnings per share for the current fiscal year.

In other Corning news, VP Christine M. Pambianchi sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $29.78, for a total value of $29,780.00. Following the completion of the sale, the vice president now owns 58,036 shares in the company, valued at $1,728,312.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Hansel E. Tookes II sold 2,345 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $30.00, for a total value of $70,350.00. Following the completion of the sale, the director now owns 89,208 shares of the company’s stock, valued at approximately $2,676,240. 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 owned by insiders.

A number of brokerages recently issued reports on GLW. TheStreet upgraded Corning from a “c+” rating to a “b-” rating in a research note on Friday, November 8th. Deutsche Bank lowered Corning from a “buy” rating to a “hold” rating and reduced their target price for the company from $33.00 to $30.00 in a report on Wednesday, October 30th. JPMorgan Chase & Co. set a $30.00 target price on Corning and gave the company a “hold” rating in a report on Tuesday, September 17th. Bank of America reduced their target price on Corning from $40.00 to $36.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Finally, UBS Group cut their price objective on Corning from $33.00 to $30.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $32.55.

Corning Profile

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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