CW Advisors LLC Raises Stock Holdings in Corning Incorporated $GLW

Key Points

• CW Advisors LLC increased its stake in Corning Incorporated by 36.0%, holding a total of 19,587 shares valued at approximately $904,000 as per its latest SEC filing.
• Corning's earnings exceeded expectations with $0.60 earnings per share, surpassing the consensus estimate of $0.57 for the quarter, alongside a revenue of $3.86 billion.
• The company announced a quarterly dividend of $0.28 per share, translating to an annualized dividend of $1.12 and a yield of 1.7% for shareholders of record.

CW Advisors LLC grew its stake in shares of Corning Incorporated (NYSE:GLW - Free Report) by 36.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,587 shares of the electronics maker's stock after buying an additional 5,190 shares during the period. CW Advisors LLC's holdings in Corning were worth $904,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Northern Trust Corp lifted its holdings in shares of Corning by 2.0% during the 4th quarter. Northern Trust Corp now owns 10,870,375 shares of the electronics maker's stock valued at $516,560,000 after purchasing an additional 208,826 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Corning by 1.3% during the 1st quarter. Bank of New York Mellon Corp now owns 6,347,977 shares of the electronics maker's stock valued at $290,610,000 after purchasing an additional 80,872 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Corning by 4.8% during the 1st quarter. Invesco Ltd. now owns 6,337,063 shares of the electronics maker's stock valued at $290,111,000 after purchasing an additional 288,328 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Corning by 6.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,285,990 shares of the electronics maker's stock valued at $251,190,000 after purchasing an additional 303,607 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings 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 purchasing an additional 1,037,875 shares in 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 stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $62.36, for a total value of $927,854.44. Following the transaction, the senior vice president owned 35,743 shares in the company, valued at approximately $2,228,933.48. This represents a 29.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Wendell P. Weeks sold 82,103 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $65.19, for a total value of $5,352,294.57. Following the completion of the transaction, the chief executive officer 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. Over the last quarter, insiders have sold 163,950 shares of company stock worth $10,449,192. Company insiders own 0.32% of the company's stock.

Corning Stock Performance

Shares of GLW stock traded down $1.90 during trading on Friday, reaching $67.03. 6,191,039 shares of the company's stock were exchanged, compared to its average volume of 5,115,324. The company has a quick ratio of 0.93, a current ratio of 1.50 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $57.42 billion, a PE ratio of 71.31, a PEG ratio of 1.50 and a beta of 1.09. Corning Incorporated has a twelve month low of $37.31 and a twelve month high of $69.29. The firm's fifty day moving average price is $58.86 and its 200-day moving average price is $51.09.

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 (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. The business had revenue of $3.86 billion during the quarter, compared to the consensus estimate 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 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. As a group, sell-side analysts anticipate that Corning Incorporated will post 2.33 EPS for the current year.

Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, August 29th. Corning's dividend payout ratio is presently 119.15%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GLW. Argus reiterated a "buy" rating and set a $68.00 price objective on shares of Corning in a report on Wednesday, July 30th. Mizuho boosted their target price on Corning from $63.00 to $74.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Wolfe Research began coverage on Corning in a research note on Tuesday, July 8th. They issued an "outperform" rating on the stock. Susquehanna restated a "positive" rating and issued a $75.00 target price (up previously from $60.00) on shares of Corning in a research note on Wednesday, July 30th. Finally, Citigroup boosted their target price on Corning from $52.00 to $60.00 and gave the company a "buy" rating in a research note on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Corning currently has an average rating of "Moderate Buy" and a consensus price target of $65.17.

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.