Corning Incorporated $GLW Shares Purchased by AlphaQuest LLC

Key Points

• AlphaQuest LLC increased its stake in Corning Incorporated by 76.6% in the second quarter, owning 49,234 shares valued at approximately $2.59 million.
• Several institutional investors have also boosted their holdings in Corning, with Amundi leading by increasing its stake by 64.3%.
• Corning has recently reported quarterly earnings of $0.60 per share, exceeding analysts' expectations and setting a guidance of $0.630-0.670 EPS for Q3 2025.

AlphaQuest LLC raised its stake in shares of Corning Incorporated (NYSE:GLW - Free Report) by 76.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 49,234 shares of the electronics maker's stock after purchasing an additional 21,356 shares during the period. AlphaQuest LLC's holdings in Corning were worth $2,589,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GLW. Amundi increased 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 purchasing an additional 2,507,797 shares in the last quarter. Bank of New York Mellon Corp raised its position in Corning by 1.3% in the first 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 during the period. Invesco Ltd. raised its position in Corning by 4.8% in the first 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 during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Corning by 10.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,844,174 shares of the electronics maker's stock valued at $267,546,000 after purchasing an additional 558,184 shares during the period. Finally, Deutsche Bank AG raised its position in Corning by 37.1% in the first 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 during the period. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GLW has been the topic of several research reports. Susquehanna reissued a "positive" rating and issued a $75.00 price objective (up from $60.00) on shares of Corning in a research report on Wednesday, July 30th. Morgan Stanley upped their target price on shares of Corning from $56.00 to $75.00 and gave the company an "equal weight" rating in a research note on Friday, October 10th. Weiss Ratings restated a "hold (c+)" rating on shares of Corning in a research note on Wednesday, October 8th. JPMorgan Chase & Co. upped their target price on shares of Corning from $62.00 to $65.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Finally, Argus restated a "buy" rating and issued a $68.00 target price on shares of Corning in a research note on Wednesday, July 30th. One investment 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 stock. According to MarketBeat, Corning has an average rating of "Moderate Buy" and a consensus target price of $73.00.

Insider Activity at Corning

In other Corning news, SVP Jaymin Amin sold 17,721 shares of the stock in a transaction on 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 sale, the senior vice president directly owned 88,722 shares of the company's stock, valued at approximately $6,847,563.96. This represents a 16.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lewis A. Steverson sold 16,646 shares of the stock in a transaction on 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 sale, the executive vice president directly owned 39,759 shares in the company, valued at $2,473,804.98. This trade represents a 29.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 181,671 shares of company stock valued at $11,816,899 in the last ninety days. 0.40% of the stock is owned by insiders.

Corning Trading Up 1.1%

NYSE GLW opened at $86.80 on Friday. Corning Incorporated has a 12 month low of $37.31 and a 12 month high of $87.78. 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 company has a market capitalization of $74.35 billion, a price-to-earnings ratio of 92.31, a price-to-earnings-growth ratio of 1.88 and a beta of 1.14. The company's fifty day moving average price is $76.91 and its two-hundred day moving average price is $59.74.

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

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 14th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, November 14th. Corning's dividend payout ratio is 119.15%.

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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