AQR Capital Management LLC Acquires 205,137 Shares of Corning Incorporated $GLW

AQR Capital Management LLC boosted its position in Corning Incorporated (NYSE:GLW - Free Report) by 46.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 645,877 shares of the electronics maker's stock after acquiring an additional 205,137 shares during the period. AQR Capital Management LLC owned 0.08% of Corning worth $28,638,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Leigh Baldwin & CO. LLC boosted its stake in Corning by 1.7% in the first quarter. Leigh Baldwin & CO. LLC now owns 12,513 shares of the electronics maker's stock valued at $573,000 after acquiring an additional 210 shares during the last quarter. University of Texas Texas AM Investment Management Co. boosted its position in shares of Corning by 9.7% in the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 2,422 shares of the electronics maker's stock worth $115,000 after purchasing an additional 214 shares during the last quarter. Harbour Investments Inc. boosted its position in shares of Corning by 2.4% in the 1st quarter. Harbour Investments Inc. now owns 9,489 shares of the electronics maker's stock worth $434,000 after purchasing an additional 224 shares during the last quarter. Old North State Wealth Management LLC boosted its position in shares of Corning by 0.6% in the 1st quarter. Old North State Wealth Management LLC now owns 40,107 shares of the electronics maker's stock worth $1,836,000 after purchasing an additional 239 shares during the last quarter. Finally, 180 Wealth Advisors LLC boosted its holdings in Corning by 1.7% during the first quarter. 180 Wealth Advisors LLC now owns 15,492 shares of the electronics maker's stock worth $709,000 after buying an additional 262 shares during the last quarter. Institutional investors own 69.80% of the company's stock.

Insiders Place Their Bets

In other Corning news, SVP Michael Paul O'day sold 14,879 shares of the business's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $62.36, for a total transaction of $927,854.44. Following the sale, the senior vice president directly owned 35,743 shares of the company's stock, valued at $2,228,933.48. The trade was a 29.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Avery H. Nelson III sold 36,240 shares of the business's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $62.26, for a total transaction of $2,256,302.40. Following the sale, the chief operating officer directly owned 64,838 shares in the company, valued at $4,036,813.88. This trade represents a 35.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 163,950 shares of company stock valued at $10,449,192 over the last 90 days. 0.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GLW. Oppenheimer restated an "outperform" rating and set a $72.00 target price (up previously from $55.00) on shares of Corning in a report on Wednesday, July 30th. Citigroup lifted their price objective on shares of Corning from $52.00 to $60.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Mizuho lifted their price target on shares of Corning from $63.00 to $74.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Wolfe Research initiated coverage on shares of Corning in a research report on Tuesday, July 8th. They set an "outperform" rating on the stock. Finally, JPMorgan Chase & Co. lifted their target price on Corning from $62.00 to $65.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $66.75.

Corning Stock Up 0.5%

Shares of Corning stock traded up $0.42 during trading on Friday, reaching $75.89. The stock had a trading volume of 8,814,282 shares, compared to its average volume of 5,912,830. The company has a market capitalization of $65.00 billion, a price-to-earnings ratio of 80.66, a P/E/G ratio of 1.68 and a beta of 1.09. The stock has a fifty day moving average price of $62.28 and a two-hundred day moving average price of $52.29. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $77.87. 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 issued its quarterly earnings results on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.03. The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.84 billion. Corning had a return on equity of 17.27% and a net margin of 5.77%.During the same period in the previous year, the company posted $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Sell-side analysts predict that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, August 29th. Corning's payout ratio is currently 119.15%.

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.