Corning Incorporated $GLW Shares Bought by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC raised its holdings in Corning Incorporated (NYSE:GLW - Free Report) by 53.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,454 shares of the electronics maker's stock after acquiring an additional 3,624 shares during the quarter. Valeo Financial Advisors LLC's holdings in Corning were worth $550,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of GLW. Amundi lifted its holdings in 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 acquiring an additional 2,507,797 shares during the last quarter. Nuveen LLC purchased a new stake in Corning during the first quarter valued at about $104,789,000. Kingstone Capital Partners Texas LLC purchased a new stake in Corning during the second quarter valued at about $92,560,000. Assenagon Asset Management S.A. lifted its stake in Corning by 101.0% during the first quarter. Assenagon Asset Management S.A. now owns 2,951,938 shares of the electronics maker's stock valued at $135,140,000 after buying an additional 1,483,151 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in Corning by 185.7% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,801,411 shares of the electronics maker's stock valued at $94,736,000 after buying an additional 1,170,992 shares in the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.

Corning Trading Up 2.3%

Shares of GLW opened at $87.04 on Thursday. The company has a current ratio of 1.50, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. The firm's 50-day moving average is $72.29 and its two-hundred day moving average is $56.68. Corning Incorporated has a twelve month low of $37.31 and a twelve month high of $87.07. The firm has a market capitalization of $74.56 billion, a P/E ratio of 92.60, a PEG ratio of 1.90 and a beta of 1.14.

Corning (NYSE:GLW - Get Free Report) last issued its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. Corning had a net margin of 5.77% and a return on equity of 17.27%. The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.84 billion. During the same period in the prior year, the business posted $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. On average, research analysts predict that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Argus reaffirmed a "buy" rating and set a $68.00 price objective on shares of Corning in a research note on Wednesday, July 30th. Citigroup increased their price target on shares of Corning from $72.00 to $93.00 and gave the stock a "buy" rating in a research report on Wednesday, September 24th. Oppenheimer reissued an "outperform" rating and issued a $72.00 price target (up from $55.00) on shares of Corning in a research report on Wednesday, July 30th. Morgan Stanley set a $56.00 price target on shares of Corning and gave the stock an "equal weight" rating in a research report on Wednesday, July 30th. Finally, Wall Street Zen lowered shares of Corning from a "strong-buy" rating to a "hold" rating in a research report on Saturday, September 13th. 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, Corning has a consensus rating of "Moderate Buy" and a consensus price target of $71.42.

Insider Buying and Selling

In other Corning news, EVP Lewis A. Steverson sold 16,646 shares of the company's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $62.22, for a total value of $1,035,714.12. Following the sale, the executive vice president owned 39,759 shares of the company's stock, valued at $2,473,804.98. This represents a 29.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jaymin Amin sold 17,721 shares of the company's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $77.18, for a total transaction of $1,367,706.78. Following the completion of the sale, the senior vice president directly owned 88,722 shares in the company, valued at $6,847,563.96. This trade represents a 16.65% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 181,671 shares of company stock valued at $11,816,899. 0.40% of the stock is owned by company insiders.

About Corning

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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