Lion Street Advisors LLC Purchases 2,869 Shares of Corning Incorporated (NYSE:GLW)

Lion Street Advisors LLC boosted its position in Corning Incorporated (NYSE:GLW) by 12.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,504 shares of the electronics maker’s stock after purchasing an additional 2,869 shares during the quarter. Lion Street Advisors LLC’s holdings in Corning were worth $1,212,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Czech National Bank raised its position in shares of Corning by 6.8% in the third quarter. Czech National Bank now owns 156,883 shares of the electronics maker’s stock valued at $7,083,000 after buying an additional 9,970 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Corning by 236.7% during the 3rd quarter. GAMMA Investing LLC now owns 6,875 shares of the electronics maker’s stock valued at $310,000 after acquiring an additional 4,833 shares during the period. Miracle Mile Advisors LLC grew its holdings in shares of Corning by 2.6% during the 3rd quarter. Miracle Mile Advisors LLC now owns 14,461 shares of the electronics maker’s stock worth $653,000 after purchasing an additional 373 shares in the last quarter. Mather Group LLC. increased its position in shares of Corning by 17.8% in the third quarter. Mather Group LLC. now owns 2,630 shares of the electronics maker’s stock worth $119,000 after purchasing an additional 398 shares during the period. Finally, Atomi Financial Group Inc. acquired a new position in Corning in the third quarter valued at about $217,000. 69.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on GLW shares. Morgan Stanley raised their target price on Corning from $39.00 to $48.00 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. UBS Group boosted their target price on Corning from $46.00 to $51.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Oppenheimer restated an “outperform” rating and issued a $58.00 price target (up from $51.00) on shares of Corning in a research note on Wednesday, October 30th. StockNews.com upgraded shares of Corning from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. Finally, JPMorgan Chase & Co. upped their price target on shares of Corning from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.00.

Insider Buying and Selling at Corning

In related news, SVP John P. Bayne, Jr. sold 5,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $48.39, for a total value of $241,950.00. Following the completion of the sale, the senior vice president now directly owns 6,700 shares of the company’s stock, valued at $324,213. The trade was a 42.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP John P. Bayne, Jr. sold 8,876 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $49.09, for a total value of $435,722.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,085 shares of company stock valued at $2,345,436. 0.45% of the stock is currently owned by company insiders.

Corning Stock Up 1.4 %

Shares of NYSE GLW opened at $52.08 on Wednesday. Corning Incorporated has a 52-week low of $30.72 and a 52-week high of $55.33. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.62. The company’s 50 day moving average price is $48.84 and its 200-day moving average price is $45.71. The company has a market capitalization of $44.59 billion, a P/E ratio of 89.79, a price-to-earnings-growth ratio of 1.51 and a beta of 1.03.

Corning (NYSE:GLW) last issued its quarterly earnings results on Wednesday, January 29th. The electronics maker reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. Corning had a net margin of 3.86% and a return on equity of 15.10%. Equities analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current year.

About Corning

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.