Green Alpha Advisors LLC Has $1.42 Million Stock Holdings in Corning Incorporated (NYSE:GLW)

Green Alpha Advisors LLC lowered its stake in Corning Incorporated (NYSE:GLW) by 7.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 29,946 shares of the electronics maker’s stock after selling 2,473 shares during the quarter. Corning comprises approximately 1.1% of Green Alpha Advisors LLC’s holdings, making the stock its 26th largest holding. Green Alpha Advisors LLC’s holdings in Corning were worth $1,423,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Franklin Resources Inc. lifted its stake 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 buying an additional 62,514 shares during the period. FMR LLC increased its stake in shares of Corning by 52.8% in the 3rd quarter. FMR LLC now owns 3,723,044 shares of the electronics maker’s stock valued at $168,095,000 after acquiring an additional 1,285,836 shares during the last quarter. MBB Public Markets I LLC raised its position in shares of Corning by 806.7% in the 2nd quarter. MBB Public Markets I LLC now owns 64,965 shares of the electronics maker’s stock valued at $2,524,000 after acquiring an additional 57,800 shares during the period. First Financial Bank Trust Division boosted its stake in Corning by 27.5% during the 4th quarter. First Financial Bank Trust Division now owns 138,153 shares of the electronics maker’s stock worth $6,565,000 after acquiring an additional 29,790 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. grew its holdings in Corning by 529.6% during the third quarter. Transamerica Financial Advisors Inc. now owns 16,533 shares of the electronics maker’s stock valued at $747,000 after purchasing an additional 13,907 shares during the period. 69.80% of the stock is currently owned by institutional investors.

Corning Price Performance

NYSE GLW opened at $47.02 on Monday. Corning Incorporated has a 12-month low of $29.71 and a 12-month high of $51.03. The firm’s 50 day moving average is $47.91 and its 200-day moving average is $44.73. The company has a market capitalization of $40.26 billion, a PE ratio of 276.59, a price-to-earnings-growth ratio of 1.54 and a beta of 1.04. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last issued its quarterly earnings results on Tuesday, October 29th. The electronics maker reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.01. Corning had a net margin of 1.24% and a return on equity of 13.45%. The firm had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period in the previous year, the business earned $0.45 EPS. The company’s revenue was up 6.9% compared to the same quarter last year. Equities research analysts anticipate that Corning Incorporated will post 1.95 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GLW. Morgan Stanley increased their target price on shares of Corning from $39.00 to $48.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Bank of America raised their price objective on Corning from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. Deutsche Bank Aktiengesellschaft boosted their target price on Corning from $49.00 to $54.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Barclays raised their price target on Corning from $40.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Finally, UBS Group boosted their price objective on Corning from $46.00 to $51.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $50.77.

Insider Buying and Selling

In related news, SVP John P. Bayne, Jr. sold 5,000 shares of the business’s 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 directly owns 6,700 shares in the company, valued at approximately $324,213. The trade was a 42.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John P. Bayne, Jr. sold 8,876 shares of the 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 currently owned by corporate 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.