Kera Capital Partners Inc. Invests $6.79 Million in Corning Incorporated (NYSE:GLW)

Kera Capital Partners Inc. bought a new position in shares of Corning Incorporated (NYSE:GLW) in the 4th quarter, HoldingsChannel.com reports. The firm bought 142,784 shares of the electronics maker’s stock, valued at approximately $6,785,000. Corning accounts for about 2.0% of Kera Capital Partners Inc.’s portfolio, making the stock its 15th biggest position.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GLW. Mercer Global Advisors Inc. ADV lifted its position in shares of Corning by 0.8% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 172,668 shares of the electronics maker’s stock worth $6,708,000 after buying an additional 1,371 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in Corning by 19.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 73,631 shares of the electronics maker’s stock worth $2,859,000 after acquiring an additional 11,958 shares in the last quarter. Blair William & Co. IL lifted 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 valued at $8,675,000 after acquiring an additional 3,207 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in Corning by 6.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 42,040 shares of the electronics maker’s stock valued at $1,633,000 after acquiring an additional 2,667 shares in the last quarter. Finally, Pacer Advisors Inc. grew its holdings in shares of Corning by 24.2% during the second 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 last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.

Corning Stock Up 1.2 %

GLW opened at $49.83 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.66 and a quick ratio of 1.05. Corning Incorporated has a 12 month low of $29.82 and a 12 month high of $51.03. The stock has a market capitalization of $42.66 billion, a P/E ratio of 293.12, a P/E/G ratio of 1.28 and a beta of 1.04. The business has a 50 day simple moving average of $47.96 and a 200-day simple moving average of $45.03.

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

Analyst Ratings Changes

Several analysts have recently weighed in on GLW shares. Oppenheimer reissued an “outperform” rating and issued a $58.00 target price (up from $51.00) on shares of Corning in a report on Wednesday, October 30th. Morgan Stanley lifted their target price 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 report on Tuesday, December 24th. JPMorgan Chase & Co. lifted their price objective on shares of Corning from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, UBS Group increased their target price on shares of Corning from $46.00 to $51.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $50.77.

Insider Buying and Selling

In other Corning news, SVP John P. Bayne, Jr. sold 5,000 shares of the company’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 sale, the senior vice president now owns 6,700 shares of the company’s stock, valued at approximately $324,213. This represents a 42.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John P. Bayne, Jr. sold 8,876 shares of Corning stock in a transaction on Monday, November 25th. The stock was sold at an average price of $49.09, for a total value of $435,722.84. The disclosure for this sale can be found here. 0.45% of the stock is owned by insiders.

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.