Baader Bank Aktiengesellschaft Trims Position in Corning Incorporated (NYSE:GLW)

Baader Bank Aktiengesellschaft lessened its stake in Corning Incorporated (NYSE:GLW) by 26.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 SEC filing.

Several other institutional investors also recently added to or reduced their stakes in GLW. Sound Income Strategies LLC boosted its holdings in shares of Corning by 76.7% in the 4th quarter. Sound Income Strategies LLC now owns 523 shares of the electronics maker’s stock valued at $25,000 after buying an additional 227 shares in the last quarter. City Holding Co. boosted its holdings in shares of Corning by 545.5% in the 3rd quarter. City Holding Co. now owns 710 shares of the electronics maker’s stock valued at $32,000 after buying an additional 600 shares in the last quarter. Rosenberg Matthew Hamilton boosted its holdings in shares of Corning by 202.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 747 shares of the electronics maker’s stock valued at $35,000 after buying an additional 500 shares in the last quarter. Cassady Schiller Wealth Management LLC bought a new stake in shares of Corning in the 3rd quarter valued at about $39,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of Corning in the 3rd quarter valued at about $40,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Corning Stock Down 2.5 %

Shares of NYSE:GLW opened at $49.97 on Thursday. Corning Incorporated has a one year low of $30.72 and a one year high of $55.33. The company has a 50 day moving average of $48.62 and a 200-day moving average of $45.57. 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 cap of $42.78 billion, a price-to-earnings ratio of 293.93, a P/E/G ratio of 1.46 and a beta of 1.04.

Corning (NYSE:GLW) last issued its quarterly earnings data on Wednesday, January 29th. The electronics maker reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate 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 forecast that Corning Incorporated will post 1.95 earnings per share for the current year.

Insider Transactions at Corning

In related news, SVP John P. Bayne, Jr. sold 8,876 shares of Corning stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $49.09, for a total transaction of $435,722.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 owns 6,700 shares in the company, valued at $324,213. The trade was a 42.74 % decrease in their position. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

GLW has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of Corning from $49.00 to $54.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Morgan Stanley lifted their price target on shares of Corning from $39.00 to $48.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. Oppenheimer reissued an “outperform” rating and issued a $58.00 price target (up previously from $51.00) on shares of Corning in a research note on Wednesday, October 30th. UBS Group lifted their target price on shares of Corning from $46.00 to $51.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Barclays reduced their price objective on shares of Corning from $53.00 to $52.00 and set an “equal weight” rating on the stock in a report on Wednesday. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $51.23.

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.