Corning Incorporated $GLW Shares Purchased by CapWealth Advisors LLC

Key Points

• CapWealth Advisors LLC increased its stake in Corning Incorporated (NYSE:GLW) by 2.1%, owning 475,549 shares valued at approximately $25 million.
• Corning recently declared a quarterly dividend of $0.28 per share, with a payout date set for December 12th, reflecting a 1.3% dividend yield.
• Analysts have raised their price targets for Corning, with Mizuho now at $90.00 and Oppenheimer at $72.00, indicating overall positive sentiment towards the stock.

CapWealth Advisors LLC increased its stake in shares of Corning Incorporated (NYSE:GLW - Free Report) by 2.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 475,549 shares of the electronics maker's stock after purchasing an additional 9,908 shares during the period. Corning accounts for about 2.5% of CapWealth Advisors LLC's holdings, making the stock its 14th biggest position. CapWealth Advisors LLC owned about 0.06% of Corning worth $25,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. REAP Financial Group LLC raised its holdings in Corning by 191.5% in the 2nd quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker's stock valued at $27,000 after acquiring an additional 339 shares during the last quarter. Investment Management Corp VA ADV boosted its position in Corning by 165.9% during the 1st quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker's stock worth $34,000 after purchasing an additional 463 shares during the period. Annis Gardner Whiting Capital Advisors LLC boosted its position in Corning by 90.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker's stock worth $34,000 after purchasing an additional 353 shares during the period. Banque Transatlantique SA purchased a new stake in Corning during the 1st quarter worth $34,000. Finally, Resources Management Corp CT ADV boosted its position in Corning by 66.7% during the 1st quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker's stock worth $34,000 after purchasing an additional 300 shares during the period. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Stock Performance

NYSE:GLW opened at $84.49 on Friday. 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 firm has a 50-day moving average of $75.33 and a two-hundred day moving average of $58.54. The stock has a market cap of $72.38 billion, a P/E ratio of 89.88, a PEG ratio of 1.93 and a beta of 1.14. Corning Incorporated has a 1-year low of $37.31 and a 1-year high of $87.78.

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

Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 14th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.12 annualized dividend and a dividend yield of 1.3%. Corning's dividend payout ratio (DPR) is presently 119.15%.

Insider Buying and Selling at Corning

In other news, SVP Michael Paul O'day sold 14,879 shares of the stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $62.36, for a total transaction of $927,854.44. Following the transaction, the senior vice president owned 35,743 shares of the company's stock, valued at approximately $2,228,933.48. This trade represents a 29.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Avery H. Nelson III sold 36,240 shares of the stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $62.26, for a total transaction of $2,256,302.40. Following the transaction, the chief operating officer directly owned 64,838 shares in the company, valued at $4,036,813.88. The trade was a 35.85% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 181,671 shares of company stock valued at $11,816,899. Corporate insiders own 0.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on GLW shares. Mizuho upped their price target on shares of Corning from $74.00 to $90.00 and gave the stock an "outperform" rating in a research report on Friday, October 3rd. Oppenheimer reaffirmed an "outperform" rating and set a $72.00 price target (up from $55.00) on shares of Corning in a research report on Wednesday, July 30th. Morgan Stanley upped their price target on shares of Corning from $56.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Friday, October 10th. Barclays upped their price target on shares of Corning from $52.00 to $65.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 30th. Finally, Argus reaffirmed a "buy" rating and set a $68.00 price target on shares of Corning in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Corning presently has an average rating of "Moderate Buy" and an average target price of $73.00.

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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