Corning Incorporated (NYSE:GLW) Shares Sold by Forsta AP Fonden

Forsta AP Fonden lowered its position in shares of Corning Incorporated (NYSE:GLW) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 166,400 shares of the electronics maker’s stock after selling 2,900 shares during the quarter. Forsta AP Fonden’s holdings in Corning were worth $7,907,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Sound Income Strategies LLC raised its position in shares of Corning by 76.7% during the 4th quarter. Sound Income Strategies LLC now owns 523 shares of the electronics maker’s stock valued at $25,000 after acquiring an additional 227 shares in the last quarter. City Holding Co. increased its stake in Corning by 545.5% during the third quarter. City Holding Co. now owns 710 shares of the electronics maker’s stock valued at $32,000 after purchasing an additional 600 shares during the last quarter. Rosenberg Matthew Hamilton raised its holdings in shares of Corning by 202.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 747 shares of the electronics maker’s stock worth $35,000 after purchasing an additional 500 shares during the period. Cassady Schiller Wealth Management LLC bought a new position in shares of Corning in the 3rd quarter worth about $39,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in shares of Corning in the 3rd quarter valued at about $40,000. Institutional investors own 69.80% of the company’s stock.

Insiders Place Their Bets

In related news, SVP John P. Bayne, Jr. sold 5,000 shares of Corning stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $48.39, for a total value of $241,950.00. Following the transaction, the senior vice president now owns 6,700 shares of the company’s stock, valued at approximately $324,213. This trade represents a 42.74 % decrease in their position. The sale 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 firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $49.09, for a total transaction of $435,722.84. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by company insiders.

Corning Price Performance

NYSE GLW opened at $49.93 on Friday. Corning Incorporated has a 12 month low of $30.72 and a 12 month high of $55.33. The firm has a market capitalization of $42.75 billion, a PE ratio of 293.68, a P/E/G ratio of 1.46 and a beta of 1.04. The company’s 50 day simple moving average is $48.67 and its 200 day simple moving average is $45.60. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.66 and a quick ratio of 1.05.

Corning (NYSE:GLW) last issued its quarterly earnings results on Wednesday, January 29th. The electronics maker reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.01. Corning had a return on equity of 13.45% and a net margin of 1.24%. As a group, equities research analysts forecast that Corning Incorporated will post 1.95 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on GLW shares. UBS Group raised their target price on shares of Corning from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Morgan Stanley raised their price target on Corning from $39.00 to $48.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Citigroup upped their price objective on Corning from $55.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. StockNews.com upgraded Corning from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Finally, Oppenheimer restated an “outperform” rating and set a $58.00 price target (up previously from $51.00) on shares of Corning in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $53.00.

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.