22,622 Shares in Corning Incorporated (NYSE:GLW) Bought by Crews Bank & Trust

Crews Bank & Trust acquired a new stake in shares of Corning Incorporated (NYSE:GLW) during the 4th quarter, Holdings Channel reports. The firm acquired 22,622 shares of the electronics maker’s stock, valued at approximately $1,075,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. FMR LLC raised its stake in shares of Corning by 52.8% in the third quarter. FMR LLC now owns 3,723,044 shares of the electronics maker’s stock valued at $168,095,000 after buying an additional 1,285,836 shares during the period. State Street Corp lifted its position in shares of Corning by 3.8% during the third quarter. State Street Corp now owns 33,983,090 shares of the electronics maker’s stock worth $1,534,337,000 after acquiring an additional 1,242,718 shares in the last quarter. Los Angeles Capital Management LLC grew its position in shares of Corning by 215.6% in the third quarter. Los Angeles Capital Management LLC now owns 1,677,513 shares of the electronics maker’s stock valued at $75,740,000 after purchasing an additional 1,145,955 shares in the last quarter. Pathway Financial Advisers LLC boosted its stake in Corning by 4,306.9% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,050,463 shares of the electronics maker’s stock worth $47,428,000 after purchasing an additional 1,026,626 shares during the period. Finally, Conning Inc. grew its holdings in shares of Corning by 14,556.8% during the third quarter. Conning Inc. now owns 881,019 shares of the electronics maker’s stock worth $39,778,000 after purchasing an additional 875,008 shares in the last quarter. Institutional investors own 69.80% of the company’s stock.

Corning Trading Down 0.6 %

Shares of NYSE GLW opened at $49.50 on Thursday. The company has a market cap of $42.38 billion, a PE ratio of 296.24, a P/E/G ratio of 1.46 and a beta of 1.04. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.05 and a current ratio of 1.66. The firm’s 50 day moving average price is $48.62 and its 200-day moving average price is $45.57. Corning Incorporated has a 52-week low of $30.72 and a 52-week high of $55.33.

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on GLW shares. Deutsche Bank Aktiengesellschaft increased their price target on shares of Corning from $49.00 to $54.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Citigroup boosted their price target on shares of Corning from $55.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Barclays reduced their price objective on Corning from $53.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Wednesday. UBS Group boosted their target price on Corning from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, StockNews.com upgraded shares of Corning from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.00.

Insider Activity at Corning

In related news, SVP John P. Bayne, Jr. sold 5,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $48.39, for a total value of $241,950.00. Following the completion of the transaction, the senior vice president now directly owns 6,700 shares of the company’s stock, valued at approximately $324,213. This trade represents a 42.74 % decrease in their ownership of the stock. The transaction 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 company’s stock in a transaction on Monday, November 25th. The shares were 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 owned by company insiders.

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.