Corning Incorporated (NYSE:GLW) Stock Holdings Decreased by Baader Bank Aktiengesellschaft

Baader Bank Aktiengesellschaft lowered its position in Corning Incorporated (NYSE:GLW - Free Report) by 26.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,551 shares of the electronics maker's stock after selling 6,365 shares during the period. Baader Bank Aktiengesellschaft's holdings in Corning were worth $834,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Northstar Advisory Group LLC lifted its position in Corning by 258.4% in the fourth quarter. Northstar Advisory Group LLC now owns 123,808 shares of the electronics maker's stock valued at $5,883,000 after purchasing an additional 89,268 shares during the period. Franklin Resources Inc. lifted its position in Corning by 48.4% in the third quarter. Franklin Resources Inc. now owns 191,648 shares of the electronics maker's stock valued at $8,975,000 after purchasing an additional 62,514 shares during the period. FMR LLC increased its holdings in 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 in the last quarter. Fifth Third Bancorp increased its holdings in Corning by 16.8% in the fourth quarter. Fifth Third Bancorp now owns 111,448 shares of the electronics maker's stock valued at $5,296,000 after buying an additional 16,001 shares in the last quarter. Finally, First Financial Bank Trust Division increased its holdings in Corning by 27.5% in the fourth quarter. First Financial Bank Trust Division now owns 138,153 shares of the electronics maker's stock valued at $6,565,000 after buying an additional 29,790 shares in the last quarter. Institutional investors and hedge funds own 69.80% of the company's stock.

Corning Trading Up 0.2 %

Shares of GLW traded up $0.08 during mid-day trading on Thursday, reaching $49.88. The company had a trading volume of 6,504,532 shares, compared to its average volume of 6,043,109. The stock has a market cap of $42.71 billion, a price-to-earnings ratio of 293.40, a price-to-earnings-growth ratio of 1.46 and a beta of 1.04. The firm has a fifty day simple moving average of $48.67 and a 200-day simple moving average of $45.60. Corning Incorporated has a fifty-two week low of $30.72 and a fifty-two week high of $55.33. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The electronics maker reported $0.57 earnings per share 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, sell-side analysts anticipate that Corning Incorporated will post 1.95 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on GLW shares. Barclays dropped their target price on shares of Corning from $53.00 to $52.00 and set an "equal weight" rating for the company in a report on Wednesday. Citigroup increased their target price on shares of Corning from $55.00 to $58.00 and gave the company a "buy" rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. increased their target price on shares of Corning from $55.00 to $60.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. UBS Group increased their target price on shares of Corning from $46.00 to $51.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Finally, Morgan Stanley raised their price objective 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. 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, Corning currently has a consensus rating of "Moderate Buy" and an average target price of $53.00.

Insider Buying and Selling at Corning

In related news, SVP John P. Bayne, Jr. sold 5,000 shares of Corning stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $48.39, for a total transaction of $241,950.00. Following the transaction, the senior vice president now owns 6,700 shares in the company, valued at approximately $324,213. The trade was a 42.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP John P. Bayne, Jr. sold 8,876 shares of Corning 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.

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.