Blair William & Co. IL reduced its stake in shares of Corning Incorporated (NYSE:GLW - Free Report) by 5.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 286,220 shares of the electronics maker's stock after selling 17,197 shares during the period. Blair William & Co. IL's holdings in Corning were worth $15,052,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Davis Investment Partners LLC purchased a new position in Corning during the 2nd quarter worth $251,000. Central Pacific Bank Trust Division increased its stake in Corning by 23.6% in the 2nd quarter. Central Pacific Bank Trust Division now owns 72,982 shares of the electronics maker's stock valued at $3,838,000 after buying an additional 13,920 shares during the last quarter. Strs Ohio purchased a new stake in Corning in the 1st quarter valued at about $27,219,000. Acadian Asset Management LLC lifted its position in shares of Corning by 4,346.5% during the 1st quarter. Acadian Asset Management LLC now owns 153,984 shares of the electronics maker's stock worth $7,048,000 after buying an additional 150,521 shares in the last quarter. Finally, Intech Investment Management LLC grew its holdings in shares of Corning by 507.6% in the first quarter. Intech Investment Management LLC now owns 211,124 shares of the electronics maker's stock valued at $9,665,000 after acquiring an additional 176,379 shares in the last quarter. Hedge funds and other institutional investors own 69.80% of the company's stock.
Insider Transactions at Corning
In other news, EVP Lewis A. Steverson sold 16,646 shares of Corning stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $62.22, for a total transaction of $1,035,714.12. Following the completion of the sale, the executive vice president owned 39,759 shares in the company, valued at approximately $2,473,804.98. This trade represents a 29.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Avery H. Nelson III sold 36,240 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the chief operating officer owned 64,838 shares in the company, valued at approximately $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. Over the last quarter, insiders have sold 181,671 shares of company stock worth $11,816,899. 0.40% of the stock is owned by insiders.
Corning Trading Down 4.8%
Shares of Corning stock opened at $83.00 on Friday. The company's 50-day moving average price is $73.19 and its 200-day moving average price is $57.18. 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 Incorporated has a 12-month low of $37.31 and a 12-month high of $87.78. The company has a market cap of $71.10 billion, a price-to-earnings ratio of 88.30, a PEG ratio of 1.95 and a beta of 1.14.
Corning (NYSE:GLW - Get Free Report) last posted its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.03. Corning had a net margin of 5.77% and a return on equity of 17.27%. The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.84 billion. During the same quarter in the prior year, the firm posted $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. On average, equities analysts expect that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.
Corning Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors 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 yield of 1.3%. The ex-dividend date is Friday, November 14th. Corning's payout ratio is presently 119.15%.
Analyst Ratings Changes
GLW has been the topic of several research analyst reports. Susquehanna reissued a "positive" rating and issued a $75.00 price objective (up previously from $60.00) on shares of Corning in a research report on Wednesday, July 30th. Wolfe Research assumed coverage on shares of Corning in a research report on Tuesday, July 8th. They set an "outperform" rating for the company. Mizuho lifted their price objective on shares of Corning from $74.00 to $90.00 and gave the stock an "outperform" rating in a research report on Friday, October 3rd. Weiss Ratings reissued a "hold (c+)" rating on shares of Corning in a research report on Wednesday. Finally, Oppenheimer restated an "outperform" rating and set a $72.00 price target (up previously from $55.00) on shares of Corning in a research note on Wednesday, July 30th. One investment 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 stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $73.00.
View Our Latest Report on GLW
About Corning
(
Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Corning, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Corning wasn't on the list.
While Corning currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
