Hunter Associates Investment Management LLC Has $3.56 Million Holdings in Corning Incorporated (NYSE:GLW)

Hunter Associates Investment Management LLC increased its position in Corning Incorporated (NYSE:GLW - Free Report) by 11.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 74,845 shares of the electronics maker's stock after purchasing an additional 7,860 shares during the period. Hunter Associates Investment Management LLC's holdings in Corning were worth $3,563,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC boosted its position 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 worth $168,095,000 after buying an additional 1,285,836 shares during the period. State Street Corp boosted its position in Corning by 3.8% during the 3rd 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 during the period. Los Angeles Capital Management LLC boosted its position in Corning by 215.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,677,513 shares of the electronics maker's stock worth $75,740,000 after acquiring an additional 1,145,955 shares during the period. Pathway Financial Advisers LLC grew its stake in Corning by 4,306.9% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,050,463 shares of the electronics maker's stock valued at $47,428,000 after acquiring an additional 1,026,626 shares in the last quarter. Finally, Conning Inc. lifted its position in shares of Corning by 14,556.8% in 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. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Corning

In related news, SVP Michael Alan Bell sold 2,209 shares of Corning stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $49.87, for a total transaction of $110,162.83. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Eric S. Musser sold 30,000 shares of the company's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $51.92, for a total value of $1,557,600.00. Following the completion of the transaction, the chief operating officer now directly owns 152,944 shares of the company's stock, valued at approximately $7,940,852.48. This trade represents a 16.40 % decrease in their position. 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. Insiders own 0.45% of the company's stock.

Corning Stock Performance

GLW traded up $0.73 during trading on Tuesday, hitting $52.08. The stock had a trading volume of 3,712,150 shares, compared to its average volume of 6,294,723. The company has a current ratio of 1.62, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62. Corning Incorporated has a 12 month low of $30.72 and a 12 month high of $55.33. The company has a 50 day simple moving average of $48.84 and a 200-day simple moving average of $45.71. The firm has a market cap of $44.59 billion, a PE ratio of 89.79, a P/E/G ratio of 1.51 and a beta of 1.03.

Corning (NYSE:GLW - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The electronics maker reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.01. Corning had a return on equity of 15.10% and a net margin of 3.86%. Analysts expect that Corning Incorporated will post 2.33 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GLW. Oppenheimer reaffirmed an "outperform" rating and set a $58.00 price objective (up from $51.00) on shares of Corning 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 company a "buy" rating in a report on Tuesday, January 21st. UBS Group increased their price objective on Corning from $46.00 to $51.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. HSBC upgraded Corning from a "hold" rating to a "buy" rating and boosted their target price for the company from $51.00 to $60.00 in a research note on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Corning from $49.00 to $54.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.