Jackson Square Capital LLC Purchases 489 Shares of Corning Incorporated (NYSE:GLW)

Jackson Square Capital LLC boosted its position in Corning Incorporated (NYSE:GLW) by 2.2% in the fourth quarter, Holdings Channel.com reports. The firm 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.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. City Holding Co. increased its stake in shares of Corning by 545.5% in the 3rd quarter. City Holding Co. now owns 710 shares of the electronics maker’s stock worth $32,000 after acquiring an additional 600 shares in the last quarter. Rosenberg Matthew Hamilton grew its holdings in Corning by 202.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 747 shares of the electronics maker’s stock worth $35,000 after purchasing an additional 500 shares during the period. Cassady Schiller Wealth Management LLC bought a new position in shares of Corning during the third quarter valued at approximately $39,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Corning during the third quarter valued at approximately $40,000. Finally, Global Trust Asset Management LLC boosted its position in shares of Corning by 2,250.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 940 shares of the electronics maker’s stock worth $42,000 after purchasing an additional 900 shares in the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GLW. StockNews.com upgraded Corning from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Morgan Stanley lifted their price target on Corning from $39.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. JPMorgan Chase & Co. increased their price objective on shares of Corning from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. UBS Group lifted their target price on shares of Corning from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Oppenheimer reissued an “outperform” rating and set a $58.00 price target (up previously from $51.00) on shares of Corning in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Corning has an average rating of “Moderate Buy” and an average price target of $50.77.

Corning Price Performance

NYSE GLW opened at $49.83 on Friday. The stock has a market capitalization of $42.66 billion, a price-to-earnings ratio of 293.12, a PEG ratio of 1.28 and a beta of 1.04. Corning Incorporated has a 1-year low of $29.82 and a 1-year high of $51.03. 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 business’s fifty day moving average price is $47.96 and its 200-day moving average price is $45.03.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, October 29th. The electronics maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. The company had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.72 billion. Corning had a return on equity of 13.45% and a net margin of 1.24%. Corning’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.45 earnings per share. On average, equities analysts predict that Corning Incorporated will post 1.95 earnings per share for the current year.

Insider Buying and Selling

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

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.