138,519 Shares in Corning Incorporated $GLW Purchased by Hartline Investment Corp

Key Points

• Hartline Investment Corp has acquired 138,519 shares of Corning Incorporated (GLW), valued at approximately $7.29 million, marking Corning as the 28th largest holding in their portfolio.
• Several institutions have increased their holdings in Corning, with Amundi boosting shares by 64.3%, now owning over 6.4 million shares worth around $271 million.
• Corning's recent earnings showed a $0.60 EPS, beating estimates, and the company also announced a quarterly dividend of $0.28 per share, reflecting a 1.3% yield.

Hartline Investment Corp acquired a new position in Corning Incorporated (NYSE:GLW - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 138,519 shares of the electronics maker's stock, valued at approximately $7,285,000. Corning comprises about 0.8% of Hartline Investment Corp's holdings, making the stock its 28th largest holding.

Several other institutional investors also recently bought and sold shares of GLW. Amundi boosted its holdings in Corning by 64.3% in the 1st quarter. Amundi now owns 6,408,605 shares of the electronics maker's stock worth $271,237,000 after buying an additional 2,507,797 shares during the last quarter. Nuveen LLC acquired a new stake in Corning in the 1st quarter worth about $104,789,000. Kingstone Capital Partners Texas LLC acquired a new stake in Corning in the 2nd quarter worth about $92,560,000. Robeco Institutional Asset Management B.V. boosted its holdings in Corning by 185.7% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,801,411 shares of the electronics maker's stock worth $94,736,000 after buying an additional 1,170,992 shares during the last quarter. Finally, Deutsche Bank AG boosted its holdings in Corning by 37.1% in the 1st quarter. Deutsche Bank AG now owns 3,835,799 shares of the electronics maker's stock worth $175,603,000 after buying an additional 1,037,875 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GLW. Oppenheimer reiterated an "outperform" rating and issued a $72.00 price objective (up from $55.00) on shares of Corning in a report on Wednesday, July 30th. Citigroup raised their target price on shares of Corning from $72.00 to $93.00 and gave the stock a "buy" rating in a research note on Wednesday, September 24th. Barclays raised their target price on shares of Corning from $52.00 to $65.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. Mizuho raised their target price on shares of Corning from $74.00 to $90.00 and gave the stock an "outperform" rating in a research note on Friday, October 3rd. Finally, Susquehanna reissued a "positive" rating and issued a $75.00 target price (up from $60.00) on shares of Corning in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $73.00.

Corning Stock Down 2.6%

GLW stock opened at $84.49 on Friday. The firm has a market cap of $72.38 billion, a PE ratio of 89.88, a PEG ratio of 1.93 and a beta of 1.14. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.50. The firm's 50 day moving average price is $75.33 and its 200-day moving average price is $58.54. Corning Incorporated has a one year low of $37.31 and a one year high of $87.78.

Corning (NYSE:GLW - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.84 billion. Corning had a net margin of 5.77% and a return on equity of 17.27%. During the same quarter in the previous year, the company earned $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. On average, equities research analysts anticipate that Corning Incorporated will post 2.33 EPS for the current year.

Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 14th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, November 14th. Corning's payout ratio is presently 119.15%.

Insider Activity

In other news, EVP Lewis A. Steverson sold 16,646 shares of Corning stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $62.22, for a total transaction of $1,035,714.12. Following the sale, the executive vice president owned 39,759 shares of the company's stock, valued at approximately $2,473,804.98. The trade was a 29.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Wendell P. Weeks sold 82,103 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $65.19, for a total value of $5,352,294.57. Following the completion of the sale, the chief executive officer directly owned 809,295 shares in the company, valued at approximately $52,757,941.05. The trade was a 9.21% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 181,671 shares of company stock worth $11,816,899. 0.40% of the stock is owned by company insiders.

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.

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