TFG Advisers LLC Buys 4,085 Shares of Corning Incorporated (NYSE:GLW)

TFG Advisers LLC lifted its stake in shares of Corning Incorporated (NYSE:GLW) by 27.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,703 shares of the electronics maker’s stock after acquiring an additional 4,085 shares during the quarter. TFG Advisers LLC’s holdings in Corning were worth $889,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Sound Income Strategies LLC raised its holdings in Corning by 76.7% during the 4th quarter. Sound Income Strategies LLC now owns 523 shares of the electronics maker’s stock worth $25,000 after purchasing an additional 227 shares during the last quarter. Rosenberg Matthew Hamilton boosted its holdings in shares of Corning by 202.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 747 shares of the electronics maker’s stock worth $35,000 after buying an additional 500 shares in the last quarter. Cassady Schiller Wealth Management LLC acquired a new stake in shares of Corning during the 3rd quarter worth approximately $39,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Corning in the 3rd quarter valued at $40,000. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of Corning during the 4th quarter valued at $40,000. 69.80% of the stock is owned by institutional investors and hedge funds.

Corning Stock Down 1.2 %

GLW opened at $52.99 on Friday. Corning Incorporated has a fifty-two week low of $30.72 and a fifty-two week high of $55.33. The firm has a market capitalization of $45.37 billion, a P/E ratio of 91.36, a PEG ratio of 1.55 and a beta of 1.03. The company’s 50-day moving average is $49.13 and its 200 day moving average is $45.88. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.62 and a quick ratio of 1.07.

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

Analysts Set New Price Targets

GLW has been the subject of a number of research reports. HSBC upgraded shares of Corning from a “hold” rating to a “buy” rating and raised their price target for the stock from $51.00 to $60.00 in a report on Thursday, January 30th. Oppenheimer reaffirmed an “outperform” rating and issued a $58.00 target price (up from $51.00) on shares of Corning in a research report on Wednesday, October 30th. Morgan Stanley increased their price target on Corning from $39.00 to $48.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. JPMorgan Chase & Co. boosted their price objective on Corning from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Barclays reduced their price target on shares of Corning from $53.00 to $52.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $53.00.

Insider Buying and Selling

In related news, SVP Michael Alan Bell sold 2,209 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $49.87, for a total transaction of $110,162.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Eric S. Musser sold 30,000 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $51.92, for a total transaction of $1,557,600.00. Following the completion of the transaction, the chief operating officer now owns 152,944 shares in the company, valued at approximately $7,940,852.48. The trade was a 16.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,085 shares of company stock worth $2,345,436. 0.40% of the stock is owned by company 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.