Corning Incorporated (NYSE:GLW) Stock Holdings Lessened by Xponance Inc.

Xponance Inc. trimmed its stake in Corning Incorporated (NYSE:GLW) by 5.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 117,086 shares of the electronics maker’s stock after selling 6,917 shares during the quarter. Xponance Inc.’s holdings in Corning were worth $4,549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in GLW. EverSource Wealth Advisors LLC lifted its position in shares of Corning by 347.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,060 shares of the electronics maker’s stock worth $32,000 after purchasing an additional 823 shares in the last quarter. Commerce Bank lifted its position in shares of Corning by 17.7% in the fourth quarter. Commerce Bank now owns 92,890 shares of the electronics maker’s stock worth $2,828,000 after purchasing an additional 13,962 shares in the last quarter. SageView Advisory Group LLC purchased a new stake in shares of Corning in the fourth quarter worth approximately $348,000. Congress Wealth Management LLC DE lifted its position in shares of Corning by 25.0% in the fourth quarter. Congress Wealth Management LLC DE now owns 8,976 shares of the electronics maker’s stock worth $273,000 after purchasing an additional 1,797 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its holdings in Corning by 0.8% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 212,720 shares of the electronics maker’s stock worth $6,477,000 after buying an additional 1,764 shares during the last quarter. 69.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GLW has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price objective on shares of Corning from $47.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Hsbc Global Res raised shares of Corning from a “moderate sell” rating to a “hold” rating in a research report on Tuesday, July 9th. Argus raised their price objective on shares of Corning from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Barclays raised their price objective on shares of Corning from $36.00 to $40.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Finally, Oppenheimer raised their price objective on shares of Corning from $47.00 to $51.00 and gave the company an “outperform” rating in a research report 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. According to MarketBeat, Corning has an average rating of “Moderate Buy” and an average price target of $47.00.

Corning Trading Up 1.5 %

NYSE:GLW opened at $45.30 on Wednesday. Corning Incorporated has a 12 month low of $25.26 and a 12 month high of $46.39. The firm has a market cap of $38.76 billion, a price-to-earnings ratio of 63.80, a P/E/G ratio of 1.72 and a beta of 1.04. The company has a quick ratio of 0.98, a current ratio of 1.57 and a debt-to-equity ratio of 0.63. The company’s 50 day moving average is $41.69 and its 200-day moving average is $37.75.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, July 30th. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. Corning had a net margin of 3.53% and a return on equity of 12.69%. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.55 billion. During the same quarter in the previous year, the firm posted $0.45 earnings per share. Corning’s revenue was up 3.5% compared to the same quarter last year. Equities analysts anticipate that Corning Incorporated will post 1.9 EPS 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.