4,450 Shares in Corning Incorporated (NYSE:GLW) Acquired by Armstrong Henry H Associates Inc.

Armstrong Henry H Associates Inc. acquired a new stake in shares of Corning Incorporated (NYSE:GLW) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 4,450 shares of the electronics maker’s stock, valued at approximately $201,000.

Other large investors have also made changes to their positions in the company. Access Investment Management LLC acquired a new stake in Corning during the 1st quarter worth about $28,000. Future Financial Wealth Managment LLC acquired a new position in Corning in the first quarter valued at approximately $33,000. Register Financial Advisors LLC acquired a new stake in shares of Corning during the 1st quarter worth approximately $33,000. ESL Trust Services LLC acquired a new position in shares of Corning in the 1st quarter valued at $33,000. Finally, Accordant Advisory Group Inc purchased a new stake in Corning during the second quarter worth $39,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Fox Advisors upgraded Corning from an “equal weight” rating to an “overweight” rating and set a $45.00 target price on the stock in a research report on Monday, June 17th. Argus upped their target price on Corning from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Mizuho raised shares of Corning from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $44.00 to $47.00 in a research note on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft upgraded shares of Corning from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research report on Wednesday, July 31st. Finally, Susquehanna boosted their target price on shares of Corning from $46.00 to $55.00 and gave the stock a “positive” rating in a research note on Friday, September 20th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Corning has a consensus rating of “Moderate Buy” and an average price target of $47.00.

Corning Stock Performance

NYSE GLW opened at $44.92 on Thursday. Corning Incorporated has a fifty-two week low of $25.26 and a fifty-two week high of $46.39. The firm has a market capitalization of $38.48 billion, a P/E ratio of 63.26, a price-to-earnings-growth ratio of 1.73 and a beta of 1.04. The stock’s fifty day moving average is $41.73 and its two-hundred day moving average is $38.23. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.98 and a current ratio of 1.57.

Corning (NYSE:GLW) last released its quarterly earnings data on Tuesday, July 30th. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.01. Corning had a net margin of 3.53% and a return on equity of 12.69%. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.55 billion. During the same period last year, the business earned $0.45 earnings per share. Corning’s revenue was up 3.5% compared to the same quarter last year. On average, research analysts anticipate that Corning Incorporated will post 1.91 earnings per share for the current year.

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.