Corning Incorporated (NYSE:GLW) Shares Purchased by First Financial Bank Trust Division

First Financial Bank Trust Division boosted its holdings in shares of Corning Incorporated (NYSE:GLW) by 29.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,363 shares of the electronics maker’s stock after buying an additional 24,913 shares during the period. First Financial Bank Trust Division’s holdings in Corning were worth $4,893,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its position in shares of Corning by 35.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,200,828 shares of the electronics maker’s stock valued at $566,941,000 after purchasing an additional 4,464,893 shares during the last quarter. Wellington Management Group LLP increased its stake in Corning by 9.0% during the 4th quarter. Wellington Management Group LLP now owns 31,312,779 shares of the electronics maker’s stock valued at $953,474,000 after purchasing an additional 2,597,878 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Corning by 41.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,212,356 shares of the electronics maker’s stock worth $189,166,000 after buying an additional 1,828,097 shares during the last quarter. Natixis lifted its stake in shares of Corning by 2,405.2% during the first quarter. Natixis now owns 1,807,801 shares of the electronics maker’s stock worth $59,585,000 after buying an additional 1,735,638 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Corning by 10,626.4% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,013,000 shares of the electronics maker’s stock valued at $33,388,000 after buying an additional 1,003,556 shares during the last quarter. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Corning Price Performance

NYSE:GLW opened at $44.92 on Thursday. The stock has a market capitalization of $38.48 billion, a PE ratio of 63.26, a price-to-earnings-growth ratio of 1.73 and a beta of 1.04. Corning Incorporated has a 52 week low of $25.26 and a 52 week high of $46.39. 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 stock’s 50-day moving average price is $41.73 and its 200-day moving average price is $38.23.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Susquehanna raised their target price on Corning from $46.00 to $55.00 and gave the stock a “positive” rating in a research note on Friday, September 20th. Fox Advisors upgraded Corning from an “equal weight” rating to an “overweight” rating and set a $45.00 price objective for the company in a research note on Monday, June 17th. Hsbc Global Res upgraded Corning from a “moderate sell” rating to a “hold” rating in a research report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft raised shares of Corning from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a research report on Wednesday, July 31st. Finally, Barclays upped their price objective on shares of Corning from $36.00 to $40.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $47.00.

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.