OLD Dominion Capital Management Inc. lifted its stake in Corning Incorporated (NYSE:GLW) by 50.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,984 shares of the electronics maker’s stock after purchasing an additional 6,339 shares during the period. OLD Dominion Capital Management Inc.’s holdings in Corning were worth $607,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of GLW. Thrivent Financial For Lutherans grew its holdings in shares of Corning by 1.2% in the second quarter. Thrivent Financial For Lutherans now owns 34,870 shares of the electronics maker’s stock worth $1,048,000 after purchasing an additional 400 shares during the last quarter. FMR LLC grew its holdings in shares of Corning by 160.5% in the second quarter. FMR LLC now owns 1,595,315 shares of the electronics maker’s stock worth $47,939,000 after purchasing an additional 982,864 shares during the last quarter. Numeric Investors LLC grew its holdings in shares of Corning by 73.6% in the second quarter. Numeric Investors LLC now owns 1,710,000 shares of the electronics maker’s stock worth $51,386,000 after purchasing an additional 724,700 shares during the last quarter. Stifel Financial Corp grew its holdings in shares of Corning by 5.1% in the second quarter. Stifel Financial Corp now owns 707,231 shares of the electronics maker’s stock worth $21,270,000 after purchasing an additional 34,148 shares during the last quarter. Finally, Frontier Wealth Management LLC grew its holdings in shares of Corning by 17.3% in the second quarter. Frontier Wealth Management LLC now owns 37,133 shares of the electronics maker’s stock worth $1,116,000 after purchasing an additional 5,489 shares during the last quarter. Hedge funds and other institutional investors own 72.15% of the company’s stock.

In other news, CEO Wendell P. Weeks sold 248,857 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $31.37, for a total value of $7,806,644.09. Following the sale, the chief executive officer now directly owns 65,333 shares in the company, valued at approximately $2,049,496.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Lawrence D. Mcrae sold 51,676 shares of the firm’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $32.42, for a total transaction of $1,675,335.92. Following the completion of the sale, the insider now owns 136,032 shares in the company, valued at $4,410,157.44. The disclosure for this sale can be found here. Insiders sold a total of 311,858 shares of company stock worth $9,845,822 over the last 90 days. Company insiders own 0.59% of the company’s stock.

GLW has been the topic of several recent research reports. Jefferies Group reiterated a “hold” rating and set a $29.50 target price on shares of Corning in a report on Friday, October 6th. Oppenheimer reiterated a “hold” rating on shares of Corning in a report on Wednesday, October 25th. Zacks Investment Research cut shares of Corning from a “buy” rating to a “hold” rating in a report on Friday, December 22nd. Citigroup increased their target price on shares of Corning from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. Finally, Guggenheim reiterated a “buy” rating and set a $35.00 target price on shares of Corning in a report on Tuesday, October 24th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Corning currently has a consensus rating of “Hold” and an average target price of $31.05.

Corning Incorporated (GLW) traded up $0.08 during trading hours on Monday, hitting $34.46. 3,010,094 shares of the stock were exchanged, compared to its average volume of 5,475,485. Corning Incorporated has a twelve month low of $25.97 and a twelve month high of $35.10. The company has a market cap of $29,860.00, a PE ratio of 14.62, a P/E/G ratio of 2.81 and a beta of 1.33. The company has a quick ratio of 2.14, a current ratio of 2.69 and a debt-to-equity ratio of 0.26.

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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).

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Institutional Ownership by Quarter for Corning (NYSE:GLW)

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