Corning Incorporated $GLW Shares Bought by ASR Vermogensbeheer N.V.

Key Points

• ASR Vermogensbeheer N.V. increased its stake in Corning Incorporated by 16.9%, owning 52,899 shares valued at $2,782,000 as of the end of the recent quarter.
• Corning's latest earnings report showed an EPS of $0.60, exceeding analysts' expectations, with revenues reaching $3.86 billion.
• Brokerages have given mixed ratings on Corning with target prices ranging from $72 to $93, indicating a consensus rating of "Moderate Buy."

ASR Vermogensbeheer N.V. boosted its stake in shares of Corning Incorporated (NYSE:GLW - Free Report) by 16.9% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 52,899 shares of the electronics maker's stock after acquiring an additional 7,651 shares during the period. ASR Vermogensbeheer N.V.'s holdings in Corning were worth $2,782,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Davis Investment Partners LLC acquired a new position in Corning during the second quarter worth $251,000. Central Pacific Bank Trust Division raised its position in shares of Corning by 23.6% in the second 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 acquired a new stake in shares of Corning in the first quarter valued at about $27,219,000. Acadian Asset Management LLC raised its position in shares of Corning by 4,346.5% in the first quarter. Acadian Asset Management LLC now owns 153,984 shares of the electronics maker's stock valued at $7,048,000 after buying an additional 150,521 shares during the last quarter. Finally, Intech Investment Management LLC raised its position 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 buying an additional 176,379 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Trading Up 1.3%

Shares of GLW opened at $83.60 on Friday. 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 $84.35. The firm has a 50-day moving average price of $70.74 and a 200 day moving average price of $55.91. The firm has a market capitalization of $71.62 billion, a P/E ratio of 88.94, a P/E/G ratio of 1.84 and a beta of 1.14.

Corning (NYSE:GLW - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.03. The firm 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 firm posted $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Sell-side analysts forecast that Corning Incorporated will post 2.33 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on GLW. Oppenheimer reiterated an "outperform" rating and issued a $72.00 target price (up from $55.00) on shares of Corning in a research report on Wednesday, July 30th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Corning in a research report on Saturday, September 27th. Citigroup increased their target price on shares of Corning from $72.00 to $93.00 and gave the company a "buy" rating in a research report on Wednesday, September 24th. JPMorgan Chase & Co. increased their target price on shares of Corning from $62.00 to $65.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Finally, Wolfe Research began coverage on shares of Corning in a research report on Tuesday, July 8th. They issued an "outperform" rating for the company. One research 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, Corning presently has a consensus rating of "Moderate Buy" and an average price target of $71.42.

Insider Activity at Corning

In other Corning news, COO Avery H. Nelson III sold 36,240 shares of the stock in a transaction dated Wednesday, July 30th. The shares were 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 of the company's stock, valued at $4,036,813.88. This trade represents a 35.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Lewis A. Steverson sold 16,646 shares of the 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 transaction, the executive vice president directly owned 39,759 shares of the company's stock, valued at approximately $2,473,804.98. This trade represents a 29.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 181,671 shares of company stock valued at $11,816,899 over the last quarter. 0.40% of the stock is owned by insiders.

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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