Should You Buy Corning Incorporated (NYSE:GLW)?

Corning Incorporated (NYSE:GLW) shareholders have witnessed an increase in hedge fund interest in recent months.

To the average investor, there are plenty of metrics shareholders can use to analyze their holdings. A duo of the most under-the-radar are hedge fund and insider trading interest. At Insider Monkey, our research analyses have shown that, historically, those who follow the best picks of the elite fund managers can beat their index-focused peers by a healthy margin (see just how much).

Corning Incorporated (NYSE:GLW)Just as beneficial, positive insider trading activity is a second way to parse down the stock market universe. Just as you’d expect, there are many reasons for a bullish insider to cut shares of his or her company, but only one, very obvious reason why they would initiate a purchase. Various empirical studies have demonstrated the valuable potential of this method if piggybackers know what to do (learn more here).

Now, let’s take a peek at the recent action surrounding Corning Incorporated (NYSE:GLW).

What does the smart money think about Corning Incorporated (NYSE:GLW)?

Heading into 2013, a total of 39 of the hedge funds we track were bullish in this stock, a change of 11% from the third quarter. With hedgies’ capital changing hands, there exists an “upper tier” of notable hedge fund managers who were increasing their stakes substantially.

According to our comprehensive database, Yacktman Asset Management, managed by Donald Yacktman, holds the biggest position in Corning Incorporated (NYSE:GLW). Yacktman Asset Management has a $184 million position in the stock, comprising 1.1% of its 13F portfolio. Sitting at the No. 2 spot is Orbis Investment Management, managed by William B. Gray, which held a $89 million position; 0.2% of its 13F portfolio is allocated to the stock. Some other hedgies with similar optimism include Richard Chilton’s Chilton Investment Company, John A. Levin’s Levin Capital Strategies and Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital.

As aggregate interest increased, key money managers have jumped into Corning Incorporated (NYSE:GLW) headfirst. Arrowstreet Capital, managed by Peter Rathjens, Bruce Clarke and John Campbell, created the largest position in Corning Incorporated (NYSE:GLW). Arrowstreet Capital had 37 million invested in the company at the end of the quarter. Jeffrey Vinik’s Vinik Asset Management also initiated a $24 million position during the quarter. The other funds with brand new GLW positions are Israel Englander’s Millennium Management, Glenn Russell Dubin’s Highbridge Capital Management, and Kelly Cardwell’s Central Square Management.

Insider trading activity in Corning Incorporated (NYSE:GLW)

Insider purchases made by high-level executives is most useful when the company we’re looking at has seen transactions within the past half-year. Over the latest six-month time frame, Corning Incorporated (NYSE:GLW) has seen 2 unique insiders purchasing, and zero insider sales (see the details of insider trades here).

With the results shown by our tactics, retail investors must always watch hedge fund and insider trading sentiment, and Corning Incorporated (NYSE:GLW) is an important part of this process.

Click here to learn more about Insider Monkey’s Hedge Fund Newsletter

Insider Monkey’s small-cap strategy returned 29.2% between September 2012 and February 2013 versus 8.7% for the S&P 500 index. Try it now by clicking the link above.

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

The Highest Grossing Musicals on Broadway

The Most Successful Reality TV Stars

Cheapest Cities to Visit in the US

Most Expensive Summer Camps

Most Expensive Animals in the World

Most Expensive Specialty Crops in the World

Movies That Took Ages to Make

The Longest Hollywood Films Ever Made

Most Expensive Concert Stages

The Richest Bands of all Time

10 Most Corrupt Countries 2013 List

10 Countries with the Highest Quality of Life Index

Most Expensive Mattresses in the World

5 Smallest Countries by Land Area

The Ultimate Heartbreak Songs

Richest Teenagers in the World

10 Most Haunted Places in America

10 Best Places to Retire in Florida East Coast

Top 10 Places to See Before You Die

Top 8 Countries in the World Where Justice Prevails

10 Richest States in America

15 Wealthiest Countries in the World

Richest Singers in the World

Most Expensive Tasting Menu in New York City

Most Expensive Baby Items in the World

Most Expensive Hotel Suites in Vegas

Most Expensive Brunch in New York City

Most Expensive Beef Cuts in the World

25 Best Colleges to Get a Job

Top 10 US Supermarkets

The 25 Most Dangerous Cities in the World to Visit

Most Expensive Xbox Games

Top 11 Cities Where Billionaires Live

Top 10 Most Charitable Companies in America

Most Expensive Seafood in the World

The 10 Wildest Conspiracy Theories

The 10 Best Job Markets in the US

Top 10 Accounting Scandals of All Time

The 25 Biggest Cities in the World

Top 10 Best Paying Virtual Jobs

Most Expensive Leather Shoes in the World

Top 6 Things to Buy in March

The 10 Most Stressful Jobs in America – 2014 List

Top 10 Jobs for Introverted People

Top 10 Honeymoon Destinations in the World

Top 10 Highest Paying Jobs in the World

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!