Rosenberg Matthew Hamilton Acquires 500 Shares of Corning Incorporated (NYSE:GLW)

Rosenberg Matthew Hamilton lifted its stake in shares of Corning Incorporated (NYSE:GLW) by 202.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 747 shares of the electronics maker’s stock after buying an additional 500 shares during the quarter. Rosenberg Matthew Hamilton’s holdings in Corning were worth $35,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. West Oak Capital LLC grew its holdings in Corning by 0.4% in the third quarter. West Oak Capital LLC now owns 51,565 shares of the electronics maker’s stock worth $2,328,000 after purchasing an additional 215 shares during the period. Lake Street Advisors Group LLC grew its stake in shares of Corning by 4.5% in the 3rd quarter. Lake Street Advisors Group LLC now owns 5,444 shares of the electronics maker’s stock valued at $246,000 after buying an additional 232 shares during the period. SteelPeak Wealth LLC increased its position in Corning by 3.3% in the 3rd quarter. SteelPeak Wealth LLC now owns 7,481 shares of the electronics maker’s stock valued at $338,000 after buying an additional 239 shares in the last quarter. Brown Lisle Cummings Inc. raised its stake in Corning by 1.5% during the 3rd quarter. Brown Lisle Cummings Inc. now owns 17,050 shares of the electronics maker’s stock worth $770,000 after buying an additional 250 shares during the period. Finally, Allworth Financial LP boosted its holdings in Corning by 1.3% in the third quarter. Allworth Financial LP now owns 19,361 shares of the electronics maker’s stock worth $874,000 after acquiring an additional 251 shares in the last quarter. Institutional investors own 69.80% of the company’s stock.

Insider Activity at Corning

In related news, 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 value 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP John P. Bayne, Jr. sold 8,876 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $49.09, for a total value of $435,722.84. The disclosure for this sale can be found here. 0.40% of the stock is owned by company insiders.

Corning Price Performance

Shares of NYSE GLW opened at $48.87 on Thursday. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $41.84 billion, a PE ratio of 287.47, a PEG ratio of 1.54 and a beta of 1.04. The stock’s 50 day moving average price is $47.91 and its 200-day moving average price is $44.85. Corning Incorporated has a twelve month low of $29.71 and a twelve month high of $51.03.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, October 29th. The electronics maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. The firm had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.72 billion. Corning had a return on equity of 13.45% and a net margin of 1.24%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.45 EPS. On average, equities analysts anticipate that Corning Incorporated will post 1.95 EPS for the current year.

Analysts Set New Price Targets

GLW has been the subject of several recent research reports. StockNews.com upgraded Corning from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Barclays boosted their price target on shares of Corning from $40.00 to $53.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Susquehanna raised their price objective on shares of Corning from $46.00 to $55.00 and gave the company a “positive” rating in a research note on Friday, September 20th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Corning from $49.00 to $54.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, UBS Group raised their price target on shares of Corning from $46.00 to $51.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Corning currently has an average rating of “Moderate Buy” and an average price target of $50.77.

Corning Profile

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.