Compass Wealth Management LLC Has $3.52 Million Stock Position in Corning Incorporated (NYSE:GLW)

Compass Wealth Management LLC trimmed its position in shares of Corning Incorporated (NYSE:GLW) by 1.6% during the 4th quarter, HoldingsChannel reports. The fund owned 74,150 shares of the electronics maker’s stock after selling 1,240 shares during the quarter. Compass Wealth Management LLC’s holdings in Corning were worth $3,524,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Public Sector Pension Investment Board grew its position in Corning by 111.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 24,424 shares of the electronics maker’s stock worth $949,000 after acquiring an additional 12,875 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Corning by 60.5% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 155,282 shares of the electronics maker’s stock valued at $6,033,000 after purchasing an additional 58,513 shares during the period. AXA S.A. increased its stake in shares of Corning by 26.6% in the 2nd quarter. AXA S.A. now owns 686,135 shares of the electronics maker’s stock valued at $26,656,000 after acquiring an additional 143,954 shares during the last quarter. APG Asset Management N.V. increased its position in shares of Corning by 19.8% in the 2nd quarter. APG Asset Management N.V. now owns 1,486,483 shares of the electronics maker’s stock valued at $53,884,000 after buying an additional 245,830 shares in the last quarter. Finally, Dark Forest Capital Management LP acquired a new stake in shares of Corning during the second quarter worth about $511,000. 69.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GLW has been the subject of a number of analyst reports. UBS Group raised their target price on shares of Corning from $46.00 to $51.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their target price on Corning from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Oppenheimer restated an “outperform” rating and set a $58.00 target price (up previously from $51.00) on shares of Corning in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Corning from $49.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley upped their price objective on Corning from $39.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $51.31.

Insider Transactions at Corning

In related news, SVP John P. Bayne, Jr. sold 5,000 shares of the 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 of the company’s stock, valued at approximately $324,213. This trade represents a 42.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP John P. Bayne, Jr. sold 8,876 shares of Corning stock in a transaction on Monday, November 25th. The stock was 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. Insiders own 0.40% of the company’s stock.

Corning Stock Up 0.5 %

Shares of NYSE GLW opened at $54.22 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.66 and a quick ratio of 1.05. The stock has a market capitalization of $46.43 billion, a PE ratio of 318.96, a P/E/G ratio of 1.46 and a beta of 1.04. Corning Incorporated has a one year low of $30.51 and a one year high of $54.53. The business’s fifty day moving average price is $48.47 and its 200-day moving average price is $45.48.

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

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.