Cwm LLC Buys 1,908 Shares of Corning Incorporated (NYSE:GLW)

Cwm LLC raised its stake in Corning Incorporated (NYSE:GLW – Get Rating) by 11.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,969 shares of the electronics maker’s stock after acquiring an additional 1,908 shares during the quarter. Cwm LLC’s holdings in Corning were worth $550,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of GLW. DNB Asset Management AS increased its holdings in shares of Corning by 0.9% during the third quarter. DNB Asset Management AS now owns 124,532 shares of the electronics maker’s stock worth $3,614,000 after purchasing an additional 1,094 shares during the period. Girard Partners LTD. increased its holdings in shares of Corning by 12.6% during the third quarter. Girard Partners LTD. now owns 26,177 shares of the electronics maker’s stock worth $759,000 after purchasing an additional 2,936 shares during the period. Hexagon Capital Partners LLC increased its holdings in shares of Corning by 17.2% during the third quarter. Hexagon Capital Partners LLC now owns 4,597 shares of the electronics maker’s stock worth $133,000 after purchasing an additional 676 shares during the period. Nordea Investment Management AB increased its holdings in shares of Corning by 5.2% during the second quarter. Nordea Investment Management AB now owns 511,780 shares of the electronics maker’s stock worth $16,075,000 after purchasing an additional 25,482 shares during the period. Finally, Bogart Wealth LLC increased its holdings in shares of Corning by 1,100.0% during the second quarter. Bogart Wealth LLC now owns 1,200 shares of the electronics maker’s stock worth $38,000 after purchasing an additional 1,100 shares during the period. 67.79% of the stock is owned by institutional investors.

Corning Price Performance

Shares of GLW stock opened at $36.41 on Thursday. The company has a quick ratio of 0.94, a current ratio of 1.51 and a debt-to-equity ratio of 0.57. Corning Incorporated has a twelve month low of $28.98 and a twelve month high of $43.47. The company has a market cap of $30.80 billion, a P/E ratio of 17.01, a P/E/G ratio of 2.45 and a beta of 1.05. The business has a fifty day simple moving average of $33.30 and a 200 day simple moving average of $33.20.

Corning (NYSE:GLW – Get Rating) last posted its earnings results on Tuesday, October 25th. The electronics maker reported $0.51 EPS for the quarter, meeting the consensus estimate of $0.51. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.67 billion. Corning had a return on equity of 15.25% and a net margin of 12.72%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the company earned $0.56 earnings per share. On average, sell-side analysts forecast that Corning Incorporated will post 2.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Susquehanna Bancshares lowered their target price on shares of Corning from $40.00 to $39.00 in a report on Wednesday, October 26th. StockNews.com started coverage on shares of Corning in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Corning from $37.00 to $35.00 in a research note on Wednesday, October 26th. Credit Suisse Group raised Corning from a “neutral” rating to an “outperform” rating and set a $36.00 target price on the stock in a report on Wednesday, January 4th. Finally, Susquehanna lowered their price target on Corning from $40.00 to $39.00 in a report on Wednesday, October 26th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $39.09.

About Corning

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Corning Incorporated engages in display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses worldwide. The company's Display Technologies segment offers glass substrates for liquid crystal displays and organic light-emitting diodes used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.