4,124 Shares in Corning Incorporated $GLW Acquired by Fortitude Advisory Group L.L.C.

Key Points

• Fortitude Advisory Group L.L.C. has acquired a new position in Corning Incorporated, purchasing 4,124 shares valued at approximately $217,000.
• Institutional investors own 69.80% of Corning's stock, with significant stake increases from other firms including Amundi and Assenagon Asset Management.
• Corning reported earnings of $0.60 per share for the recent quarter, exceeding analyst estimates, while setting a Q3 2025 guidance between 0.630-0.670 EPS.

Fortitude Advisory Group L.L.C. purchased a new position in shares of Corning Incorporated (NYSE:GLW - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,124 shares of the electronics maker's stock, valued at approximately $217,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of GLW. Amundi increased its position in Corning by 64.3% during the first quarter. Amundi now owns 6,408,605 shares of the electronics maker's stock worth $271,237,000 after purchasing an additional 2,507,797 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Corning in the first quarter worth $104,789,000. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Corning in the second quarter worth $92,560,000. Assenagon Asset Management S.A. increased its position in shares of Corning by 101.0% in the first quarter. Assenagon Asset Management S.A. now owns 2,951,938 shares of the electronics maker's stock worth $135,140,000 after acquiring an additional 1,483,151 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of Corning by 185.7% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,801,411 shares of the electronics maker's stock worth $94,736,000 after acquiring an additional 1,170,992 shares in the last quarter. Institutional investors and hedge funds own 69.80% of the company's stock.

Insider Activity

In other Corning news, EVP Lewis A. Steverson sold 16,646 shares of the stock in a transaction 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 transaction, the executive vice president directly owned 39,759 shares in the company, valued at $2,473,804.98. This represents a 29.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Wendell P. Weeks sold 82,103 shares of the stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $65.19, for a total transaction of $5,352,294.57. Following the transaction, the chief executive officer owned 809,295 shares in the company, valued at $52,757,941.05. This trade represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 181,671 shares of company stock worth $11,816,899 over the last ninety days. Insiders own 0.40% of the company's stock.

Corning Price Performance

GLW opened at $83.60 on Friday. The company has a fifty day simple moving average of $70.74 and a 200 day simple moving average of $55.96. The firm has a market cap of $71.62 billion, a price-to-earnings ratio of 88.94, a PEG ratio of 1.86 and a beta of 1.14. Corning Incorporated has a twelve month low of $37.31 and a twelve month high of $84.35. The company has a current ratio of 1.50, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58.

Corning (NYSE:GLW - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.03. The business had revenue of $3.86 billion during 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 period last year, the business earned $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Equities research analysts expect that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Analysts Set New Price Targets

GLW has been the subject of several recent research reports. Morgan Stanley set a $56.00 price objective on shares of Corning and gave the stock an "equal weight" rating in a research report on Wednesday, July 30th. Citigroup increased their price objective on shares of Corning from $72.00 to $93.00 and gave the stock a "buy" rating in a research report on Wednesday, September 24th. JPMorgan Chase & Co. increased their price objective on shares of Corning from $62.00 to $65.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Weiss Ratings reissued a "hold (c+)" rating on shares of Corning in a research report on Saturday, September 27th. Finally, UBS Group increased their price objective on shares of Corning from $84.00 to $91.00 and gave the stock a "buy" rating in a research report on Tuesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $71.42.

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.

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