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

Compass Wealth Management LLC reduced its position in shares of Corning Incorporated (NYSE:GLW) by 1.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GLW. Dynamic Advisor Solutions LLC raised its position in shares of Corning by 2.4% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 22,082 shares of the electronics maker’s stock worth $1,049,000 after purchasing an additional 528 shares during the period. Fifth Third Bancorp raised its holdings in Corning by 16.8% during the fourth quarter. Fifth Third Bancorp now owns 111,448 shares of the electronics maker’s stock worth $5,296,000 after buying an additional 16,001 shares during the last quarter. Goelzer Investment Management Inc. grew its holdings in shares of Corning by 0.4% during the fourth quarter. Goelzer Investment Management Inc. now owns 65,816 shares of the electronics maker’s stock valued at $3,128,000 after buying an additional 236 shares during the last quarter. CX Institutional increased its position in shares of Corning by 1.3% during the fourth quarter. CX Institutional now owns 21,860 shares of the electronics maker’s stock worth $1,039,000 after acquiring an additional 284 shares in the last quarter. Finally, Sound Income Strategies LLC increased its position in shares of Corning by 76.7% during the fourth quarter. Sound Income Strategies LLC now owns 523 shares of the electronics maker’s stock worth $25,000 after acquiring an additional 227 shares in the last quarter. Institutional investors own 69.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GLW. Barclays lifted their price target on Corning from $40.00 to $53.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Morgan Stanley upped their price objective on shares of Corning from $39.00 to $48.00 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. StockNews.com upgraded shares of Corning from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Oppenheimer reaffirmed an “outperform” rating and set a $58.00 target price (up previously from $51.00) on shares of Corning in a report on Wednesday, October 30th. Finally, UBS Group boosted their target price on Corning from $46.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Five research 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.31.

Corning Stock Up 0.5 %

Shares of NYSE:GLW opened at $54.22 on Friday. The business has a 50-day moving average price of $48.47 and a 200 day moving average price of $45.48. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.62. Corning Incorporated has a 12-month low of $30.51 and a 12-month high of $54.53. The company has a market capitalization of $46.43 billion, a price-to-earnings ratio of 318.96, a PEG ratio of 1.46 and a beta of 1.04.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, October 29th. The electronics maker reported $0.54 earnings per share 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 analyst estimates of $3.72 billion. Corning had a return on equity of 13.45% and a net margin of 1.24%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the company earned $0.45 EPS. Sell-side analysts expect that Corning Incorporated will post 1.95 EPS for the current year.

Insider Buying and Selling

In other news, SVP John P. Bayne, Jr. sold 8,876 shares of the business’s stock in a transaction 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 legal filing with the SEC, which is available through this hyperlink. Also, SVP John P. Bayne, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $48.39, for a total value of $241,950.00. Following the sale, 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 disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.

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.