HHM Wealth Advisors LLC Boosts Stock Position in Corning Incorporated (NYSE:GLW)

HHM Wealth Advisors LLC increased its position in Corning Incorporated (NYSE:GLW) by 260.6% in the 4th quarter, HoldingsChannel reports. The fund owned 1,803 shares of the electronics maker’s stock after buying an additional 1,303 shares during the quarter. HHM Wealth Advisors LLC’s holdings in Corning were worth $86,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cetera Investment Advisers lifted its stake in shares of Corning by 23.1% during the 2nd quarter. Cetera Investment Advisers now owns 219,217 shares of the electronics maker’s stock valued at $8,517,000 after buying an additional 41,130 shares in the last quarter. Quent Capital LLC lifted its position in shares of Corning by 64.9% in the third quarter. Quent Capital LLC now owns 1,936 shares of the electronics maker’s stock valued at $87,000 after acquiring an additional 762 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Corning by 0.8% in the third quarter. Handelsbanken Fonder AB now owns 434,609 shares of the electronics maker’s stock worth $19,623,000 after acquiring an additional 3,325 shares during the period. Czech National Bank grew its holdings in Corning by 6.8% during the 3rd 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. Finally, GAMMA Investing LLC grew its stake in Corning by 236.7% during the third 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 in the last quarter. Institutional investors own 69.80% of the company’s stock.

Insider Activity

In other Corning news, SVP John P. Bayne, Jr. sold 5,000 shares of Corning stock in a transaction 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 completion of the transaction, the senior vice president now owns 6,700 shares of the company’s stock, valued at approximately $324,213. The trade was a 42.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Eric S. Musser sold 30,000 shares of Corning stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $51.92, for a total value of $1,557,600.00. Following the completion of the transaction, the chief operating officer now owns 152,944 shares of the company’s stock, valued at approximately $7,940,852.48. This represents a 16.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,085 shares of company stock valued at $2,345,436 in the last quarter. 0.45% of the stock is currently owned by company insiders.

Analyst Ratings Changes

GLW has been the topic of several recent research reports. Barclays decreased their price objective on Corning from $53.00 to $52.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. StockNews.com upgraded Corning from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. UBS Group upped their price target on shares of Corning from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Citigroup raised their price objective on Corning from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Finally, Hsbc Global Res raised shares of Corning from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 30th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Corning has a consensus rating of “Moderate Buy” and a consensus price target of $53.00.

Corning Trading Down 1.4 %

Shares of Corning stock opened at $51.35 on Tuesday. The firm has a market capitalization of $43.97 billion, a price-to-earnings ratio of 88.54, a PEG ratio of 1.51 and a beta of 1.03. The company has a current ratio of 1.62, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62. Corning Incorporated has a 12-month low of $30.72 and a 12-month high of $55.33. The firm’s 50 day simple moving average is $48.78 and its two-hundred day simple moving average is $45.67.

Corning (NYSE:GLW) last issued its 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 return on equity of 15.10% and a net margin of 3.86%. Analysts predict that Corning Incorporated will post 2.33 EPS for the current year.

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.