Corning Incorporated (NYSE:GLW) Shares Sold by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC cut its stake in shares of Corning Incorporated (NYSE:GLWFree Report) by 58.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 9,398 shares of the electronics maker’s stock after selling 13,271 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Corning were worth $447,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in GLW. Public Sector Pension Investment Board grew its stake in Corning by 111.5% in the 2nd quarter. Public Sector Pension Investment Board now owns 24,424 shares of the electronics maker’s stock valued at $949,000 after acquiring an additional 12,875 shares during the last quarter. Millennium Management LLC grew its stake in Corning by 117.1% in the 2nd quarter. Millennium Management LLC now owns 926,249 shares of the electronics maker’s stock valued at $35,985,000 after acquiring an additional 499,595 shares during the last quarter. NewEdge Advisors LLC grew its stake in Corning by 58.4% in the 2nd quarter. NewEdge Advisors LLC now owns 90,442 shares of the electronics maker’s stock valued at $3,514,000 after acquiring an additional 33,333 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Corning by 1.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 73,789 shares of the electronics maker’s stock valued at $2,867,000 after acquiring an additional 844 shares during the last quarter. Finally, EP Wealth Advisors LLC grew its stake in Corning by 6.9% in the 2nd quarter. EP Wealth Advisors LLC now owns 15,082 shares of the electronics maker’s stock valued at $586,000 after acquiring an additional 978 shares during the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.

Corning Trading Up 0.3 %

NYSE GLW opened at $49.93 on Friday. Corning Incorporated has a one year low of $30.72 and a one year high of $55.33. The company’s 50 day moving average price is $48.67 and its 200 day moving average price is $45.60. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.05 and a current ratio of 1.66. The firm has a market capitalization of $42.75 billion, a price-to-earnings ratio of 293.68, a PEG ratio of 1.46 and a beta of 1.04.

Corning (NYSE:GLWGet Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The electronics maker reported $0.57 EPS for the quarter, beating the consensus estimate of $0.56 by $0.01. Corning had a net margin of 1.24% and a return on equity of 13.45%. On average, sell-side analysts predict that Corning Incorporated will post 1.95 EPS for the current year.

Insider Transactions at Corning

In related news, SVP John P. Bayne, Jr. sold 8,876 shares of Corning stock in a transaction on Monday, November 25th. The shares were sold at an average price of $49.09, for a total transaction of $435,722.84. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP John P. Bayne, Jr. sold 5,000 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $48.39, for a total transaction of $241,950.00. Following the completion of the transaction, the senior vice president now directly 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 0.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on GLW shares. UBS Group increased their price objective on shares of Corning from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. raised their price target on shares of Corning from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Barclays decreased their price target on shares of Corning from $53.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Wednesday. HSBC raised shares of Corning from a “hold” rating to a “buy” rating and raised their price target for the stock from $51.00 to $60.00 in a research note on Thursday. Finally, Morgan Stanley raised their price target on shares of Corning from $39.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Corning currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.00.

Get Our Latest Stock Analysis on Corning

Corning Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Corning (NYSE:GLW)

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