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SG Americas Securities LLC lowered its position in shares of Corning Incorporated (NYSE:GLW – Get Rating) by 29.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 55,965 shares of the electronics maker’s stock after selling 23,429 shares during the quarter. SG Americas Securities LLC’s holdings in Corning were worth $1,624,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Chilton Capital Management LLC acquired a new position in Corning during the 2nd quarter worth approximately $32,000. WFA of San Diego LLC bought a new stake in shares of Corning during the 2nd quarter worth approximately $37,000. Bogart Wealth LLC raised its stake in shares of Corning by 1,100.0% during the 2nd quarter. Bogart Wealth LLC now owns 1,200 shares of the electronics maker’s stock worth $38,000 after purchasing an additional 1,100 shares in the last quarter. Core Alternative Capital raised its stake in shares of Corning by 488.3% during the 3rd quarter. Core Alternative Capital now owns 1,206 shares of the electronics maker’s stock worth $35,000 after purchasing an additional 1,001 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new stake in shares of Corning during the 3rd quarter worth approximately $35,000. Institutional investors and hedge funds own 67.79% of the company’s stock.
Corning Stock Down 1.3 %
GLW stock opened at $36.07 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.51 and a quick ratio of 0.94. The stock has a market capitalization of $30.51 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 2.49 and a beta of 1.05. The business’s fifty day moving average price is $33.46 and its two-hundred day moving average price is $33.25. Corning Incorporated has a fifty-two week low of $28.98 and a fifty-two week high of $43.47.
Corning (NYSE:GLW – Get Rating) last posted its quarterly earnings data on Tuesday, October 25th. The electronics maker reported $0.51 earnings per share for the quarter, hitting the consensus estimate of $0.51. The firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.67 billion. Corning had a return on equity of 15.25% and a net margin of 12.72%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter last year, the business earned $0.56 EPS. On average, equities analysts anticipate that Corning Incorporated will post 2.06 earnings per share for the current year.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the company. Susquehanna dropped their price objective on Corning from $40.00 to $39.00 in a research note on Wednesday, October 26th. Credit Suisse Group upgraded Corning from a “neutral” rating to an “outperform” rating and set a $36.00 price objective on the stock in a research note on Wednesday, January 4th. UBS Group upped their price objective on Corning from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday. Susquehanna Bancshares dropped their price target on Corning from $40.00 to $39.00 in a research note on Wednesday, October 26th. Finally, Morgan Stanley dropped their price target on Corning from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 13th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $39.09.
About Corning
(Get Rating)
Corning Incorporated engages in display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses worldwide. The company's Display Technologies segment offers glass substrates for liquid crystal displays and organic light-emitting diodes used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.
Further Reading
- Get a free copy of the StockNews.com research report on Corning (GLW)
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Want to see what other hedge funds are holding GLW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corning Incorporated (NYSE:GLW – Get Rating).
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