Corning Incorporated (NYSE:GLW) Shares Purchased by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC raised its holdings in Corning Incorporated (NYSE:GLW) by 223.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 856,878 shares of the electronics maker’s stock after buying an additional 592,187 shares during the period. Nisa Investment Advisors LLC’s holdings in Corning were worth $40,719,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of GLW. FMR LLC raised its position in shares of Corning by 52.8% during the 3rd quarter. FMR LLC now owns 3,723,044 shares of the electronics maker’s stock worth $168,095,000 after acquiring an additional 1,285,836 shares in the last quarter. State Street Corp raised its holdings in Corning by 3.8% during the third quarter. State Street Corp now owns 33,983,090 shares of the electronics maker’s stock worth $1,534,337,000 after purchasing an additional 1,242,718 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in Corning by 215.6% during the third quarter. Los Angeles Capital Management LLC now owns 1,677,513 shares of the electronics maker’s stock worth $75,740,000 after purchasing an additional 1,145,955 shares in the last quarter. Pathway Financial Advisers LLC boosted its holdings in shares of Corning by 4,306.9% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,050,463 shares of the electronics maker’s stock valued at $47,428,000 after buying an additional 1,026,626 shares in the last quarter. Finally, Shellback Capital LP purchased a new position in shares of Corning in the 2nd quarter valued at $34,483,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on GLW shares. StockNews.com raised shares of Corning from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. Barclays boosted their target price on Corning from $40.00 to $53.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft lifted their price target on Corning from $49.00 to $54.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Morgan Stanley increased their price objective on Corning from $39.00 to $48.00 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. Finally, Citigroup raised their target price on shares of Corning from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Corning has an average rating of “Moderate Buy” and a consensus target price of $51.31.

Corning Trading Up 3.5 %

NYSE GLW opened at $51.58 on Wednesday. Corning Incorporated has a 52-week low of $30.30 and a 52-week high of $52.03. The firm has a 50-day moving average price of $47.98 and a 200 day moving average price of $45.16. The stock has a market capitalization of $44.17 billion, a P/E ratio of 303.43, a P/E/G ratio of 1.35 and a beta of 1.04. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, October 29th. The electronics maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. The business had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Corning had a return on equity of 13.45% and a net margin of 1.24%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the firm earned $0.45 EPS. Equities research analysts expect that Corning Incorporated will post 1.95 EPS for the current year.

Insider Transactions at Corning

In other Corning news, SVP John P. Bayne, Jr. sold 8,876 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $49.09, for a total transaction of $435,722.84. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP John P. Bayne, Jr. sold 5,000 shares of Corning stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $48.39, for a total transaction of $241,950.00. Following the sale, the senior vice president now owns 6,700 shares of the company’s stock, valued at approximately $324,213. The trade was a 42.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.45% of the company’s stock.

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.