Concurrent Investment Advisors LLC Has $747,000 Position in Corning Incorporated $GLW

Key Points

• Concurrent Investment Advisors LLC has reduced its position in Corning Incorporated by 59.5%, now holding 14,200 shares valued at approximately $747,000.
• Institutional investors own 69.80% of Corning's stock, with notable increases from Amundi and Robeco Institutional Asset Management.
• Corning recently announced a $0.28 quarterly dividend with an annualized yield of 1.3%, to be paid on December 12th.

Concurrent Investment Advisors LLC trimmed its position in Corning Incorporated (NYSE:GLW - Free Report) by 59.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 14,200 shares of the electronics maker's stock after selling 20,820 shares during the period. Concurrent Investment Advisors LLC's holdings in Corning were worth $747,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Amundi boosted its stake in shares of Corning by 64.3% in the 1st quarter. Amundi now owns 6,408,605 shares of the electronics maker's stock valued at $271,237,000 after purchasing an additional 2,507,797 shares during the last quarter. Nuveen LLC bought a new position in Corning in the first quarter valued at approximately $104,789,000. Kingstone Capital Partners Texas LLC bought a new position in Corning in the second quarter valued at approximately $92,560,000. Robeco Institutional Asset Management B.V. grew its holdings in Corning by 185.7% during 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 acquiring an additional 1,170,992 shares during the period. Finally, Deutsche Bank AG raised its position in shares of Corning by 37.1% during the 1st quarter. Deutsche Bank AG now owns 3,835,799 shares of the electronics maker's stock valued at $175,603,000 after acquiring an additional 1,037,875 shares during the last quarter. Institutional investors own 69.80% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on GLW. Barclays raised their price target on Corning from $52.00 to $65.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 30th. UBS Group raised their target price on Corning from $84.00 to $91.00 and gave the stock a "buy" rating in a report on Tuesday, September 23rd. Susquehanna reaffirmed a "positive" rating and issued a $75.00 price target (up from $60.00) on shares of Corning in a research note on Wednesday, July 30th. Argus reiterated a "buy" rating and issued a $68.00 price target on shares of Corning in a research report on Wednesday, July 30th. Finally, Morgan Stanley boosted their price objective on shares of Corning from $56.00 to $75.00 and gave the company an "equal weight" rating in a report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $73.00.

Insider Activity

In other news, SVP Jaymin Amin sold 17,721 shares of the business's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $77.18, for a total value of $1,367,706.78. Following the sale, the senior vice president directly owned 88,722 shares in the company, valued at $6,847,563.96. The trade was a 16.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Avery H. Nelson III sold 36,240 shares of the stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $62.26, for a total value of $2,256,302.40. Following the transaction, the chief operating officer owned 64,838 shares of the company's stock, valued at approximately $4,036,813.88. The trade was a 35.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 181,671 shares of company stock worth $11,816,899. 0.40% of the stock is currently owned by insiders.

Corning Trading Up 0.2%

NYSE GLW opened at $86.81 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.50 and a quick ratio of 0.93. The stock's 50-day moving average is $74.96 and its 200-day moving average is $58.27. Corning Incorporated has a one year low of $37.31 and a one year high of $87.78. The firm has a market cap of $74.36 billion, a P/E ratio of 92.35, a P/E/G ratio of 1.93 and a beta of 1.14.

Corning (NYSE:GLW - Get Free Report) last announced its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. The firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate 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 company posted $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Sell-side analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 14th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.12 dividend on an annualized basis and a yield of 1.3%. Corning's dividend payout ratio is presently 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.

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