Corning Incorporated $GLW Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments Co. Ltd. has increased its stake in Corning Incorporated by 9.9%, now owning 88,391 shares valued at approximately $4.65 million.
• Corning's latest earnings report showed $0.60 earnings per share, exceeding analysts' estimates of $0.57, and a revenue of $3.86 billion for the quarter.
• Insider trading activity revealed that executives sold over 181,000 shares worth nearly $11.82 million in the last quarter, indicating a 0.40% insider ownership of the company.

Mirae Asset Global Investments Co. Ltd. boosted its position in Corning Incorporated (NYSE:GLW - Free Report) by 9.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 88,391 shares of the electronics maker's stock after purchasing an additional 7,953 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Corning were worth $4,648,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Forte Capital LLC ADV lifted its stake in shares of Corning by 2.4% during the second quarter. Forte Capital LLC ADV now owns 7,973 shares of the electronics maker's stock valued at $419,000 after buying an additional 190 shares during the period. Smith Salley Wealth Management raised its holdings in Corning by 3.3% in the 2nd quarter. Smith Salley Wealth Management now owns 6,280 shares of the electronics maker's stock valued at $330,000 after acquiring an additional 200 shares during the last quarter. Leigh Baldwin & CO. LLC raised its holdings in Corning by 1.7% in the 1st 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. Old North State Wealth Management LLC lifted its stake in shares of Corning by 0.5% during the 2nd quarter. Old North State Wealth Management LLC now owns 40,325 shares of the electronics maker's stock worth $2,121,000 after purchasing an additional 218 shares during the period. Finally, Harbour Investments Inc. boosted its holdings in shares of Corning by 2.4% during the first 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. 69.80% of the stock is owned by institutional investors and hedge funds.

Corning Trading Up 2.1%

Shares of GLW stock opened at $85.34 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 1.50 and a debt-to-equity ratio of 0.58. Corning Incorporated has a fifty-two week low of $37.31 and a fifty-two week high of $86.10. The firm's 50 day moving average price is $71.34 and its two-hundred day moving average price is $56.27. The stock has a market cap of $73.10 billion, a price-to-earnings ratio of 90.79, a price-to-earnings-growth ratio of 1.86 and a beta of 1.14.

Corning (NYSE:GLW - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. The company 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 quarter in the prior year, the business earned $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. On average, analysts anticipate that Corning Incorporated will post 2.33 EPS for the current year.

Insider Transactions at Corning

In other Corning news, SVP Jaymin Amin sold 17,721 shares of the firm'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 transaction, the senior vice president directly owned 88,722 shares of the company's stock, valued at $6,847,563.96. This trade represents a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Wendell P. Weeks sold 82,103 shares of the company's stock in a transaction dated 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 sale, the chief executive officer directly owned 809,295 shares of the company's stock, valued at $52,757,941.05. The trade was a 9.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 181,671 shares of company stock worth $11,816,899 in the last quarter. 0.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

GLW has been the topic of several recent analyst reports. Wolfe Research initiated coverage on Corning in a research report on Tuesday, July 8th. They set an "outperform" rating on the stock. 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 report on Friday, July 25th. Wall Street Zen downgraded shares of Corning from a "strong-buy" rating to a "hold" rating in a report on Saturday, September 13th. UBS Group upped their price target 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. Finally, Argus reiterated a "buy" rating and issued a $68.00 price target on shares of Corning in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $71.42.

Corning Company 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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