Jackson Square Capital LLC Increases Stock Holdings in Corning Incorporated (NYSE:GLW)

Jackson Square Capital LLC boosted its stake in Corning Incorporated (NYSE:GLW) by 2.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,420 shares of the electronics maker’s stock after buying an additional 489 shares during the quarter. Jackson Square Capital LLC’s holdings in Corning were worth $1,065,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of GLW. Mercer Global Advisors Inc. ADV boosted its holdings in Corning by 0.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 172,668 shares of the electronics maker’s stock worth $6,708,000 after purchasing an additional 1,371 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Corning by 19.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 73,631 shares of the electronics maker’s stock valued at $2,859,000 after acquiring an additional 11,958 shares during the last quarter. Blair William & Co. IL boosted its position in Corning by 1.5% in the second quarter. Blair William & Co. IL now owns 223,289 shares of the electronics maker’s stock worth $8,675,000 after purchasing an additional 3,207 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in Corning by 6.8% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 42,040 shares of the electronics maker’s stock valued at $1,633,000 after purchasing an additional 2,667 shares during the period. Finally, Pacer Advisors Inc. raised its stake in shares of Corning by 24.2% during the 2nd quarter. Pacer Advisors Inc. now owns 71,772 shares of the electronics maker’s stock worth $2,788,000 after purchasing an additional 14,004 shares during the period. 69.80% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Corning

In other Corning news, SVP John P. Bayne, Jr. sold 8,876 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $49.09, for a total transaction of $435,722.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John P. Bayne, Jr. sold 5,000 shares of the firm’s stock in a transaction on 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 disclosure for this sale can be found here. Company insiders own 0.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GLW. StockNews.com upgraded shares of Corning from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. UBS Group lifted 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. Deutsche Bank Aktiengesellschaft upped their price objective on Corning from $49.00 to $54.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Morgan Stanley lifted their price objective on Corning from $39.00 to $48.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $58.00 target price (up previously from $51.00) on shares of Corning in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $50.77.

Corning Stock Up 1.2 %

GLW opened at $49.83 on Friday. The firm has a market capitalization of $42.66 billion, a P/E ratio of 293.12, a price-to-earnings-growth ratio of 1.28 and a beta of 1.04. 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 company has a fifty day moving average price of $47.96 and a 200-day moving average price of $45.03. Corning Incorporated has a one year low of $29.82 and a one year high of $51.03.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, October 29th. The electronics maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.01. Corning had a net margin of 1.24% and a return on equity of 13.45%. The firm had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter last year, the company posted $0.45 EPS. The business’s quarterly revenue was up 6.9% on a year-over-year basis. Equities research analysts expect that Corning Incorporated will post 1.95 earnings per share for the current fiscal year.

Corning 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.