Global X Japan Co. Ltd. Buys Shares of 832 Corning Incorporated (NYSE:GLW)

Global X Japan Co. Ltd. bought a new position in shares of Corning Incorporated (NYSE:GLW) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 832 shares of the electronics maker’s stock, valued at approximately $40,000.

A number of other large investors have also recently made changes to their positions in GLW. Sound Income Strategies LLC increased its holdings in Corning by 76.7% during the 4th quarter. Sound Income Strategies LLC now owns 523 shares of the electronics maker’s stock worth $25,000 after acquiring an additional 227 shares during the period. Rosenberg Matthew Hamilton grew its position in shares of Corning by 202.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 747 shares of the electronics maker’s stock valued at $35,000 after purchasing an additional 500 shares in the last quarter. Cassady Schiller Wealth Management LLC bought a new position in shares of Corning in the third quarter worth $39,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Corning in the third quarter worth $40,000. Finally, Union Bancaire Privee UBP SA bought a new stake in Corning during the fourth quarter valued at $40,000. 69.80% of the stock is owned by institutional investors.

Corning Trading Down 1.2 %

Shares of GLW stock opened at $52.99 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.62 and a quick ratio of 1.07. The business has a 50-day moving average of $49.13 and a 200 day moving average of $45.88. The stock has a market capitalization of $45.37 billion, a PE ratio of 91.36, a P/E/G ratio of 1.55 and a beta of 1.03. Corning Incorporated has a 1-year low of $30.72 and a 1-year high of $55.33.

Corning (NYSE:GLW) last issued its earnings results on Wednesday, January 29th. The electronics maker reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.01. Corning had a net margin of 3.86% and a return on equity of 15.10%. As a group, sell-side analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current year.

Wall Street Analyst Weigh In

GLW has been the topic of several recent analyst reports. HSBC raised Corning from a “hold” rating to a “buy” rating and raised their price target for the company from $51.00 to $60.00 in a report on Thursday, January 30th. Oppenheimer reiterated an “outperform” rating and set a $58.00 target price (up from $51.00) on shares of Corning in a research report on Wednesday, October 30th. Morgan Stanley boosted 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. Barclays dropped their price objective on shares of Corning from $53.00 to $52.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. increased their target price on Corning from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $53.00.

Insider Buying and Selling at Corning

In related news, SVP John P. Bayne, Jr. sold 8,876 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $49.09, for a total value of $435,722.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Michael Alan Bell sold 2,209 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $49.87, for a total value of $110,162.83. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,085 shares of company stock worth $2,345,436. 0.40% of the stock is currently owned by company insiders.

Corning Company 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.