Corning Incorporated $GLW Shares Purchased by NFSG Corp

Key Points

• NFSG Corp increased its Corning stake by 378.2% in the third quarter, bringing its holdings to 35,828 shares valued at approximately $5.5 million. Institutional investors and hedge funds collectively own 69.8% of Corning’s stock.
• Analyst sentiment remains favorable but mixed, with 13 Buy ratings and seven Holds. Corning has an average rating of “Moderate Buy” and an average price target of $177.56, despite several recent target-price reductions.
• Corning exceeded quarterly expectations with $0.78 in EPS and $4.74 billion in revenue, while revenue grew 17.1% year over year. The company also declared a quarterly dividend of $0.28 per share, equivalent to a 0.8% annual yield.

NFSG Corp increased its holdings in Corning Incorporated (NYSE:GLW - Free Report) by 378.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,828 shares of the electronics maker's stock after acquiring an additional 28,336 shares during the period. NFSG Corp's holdings in Corning were worth $5,509,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Atwood & Palmer Inc. purchased a new position in Corning during the 2nd quarter valued at about $26,000. Rogco LP acquired a new position in shares of Corning in the 2nd quarter valued at about $27,000. Toth Financial Advisory Corp lifted its position in shares of Corning by 130.7% in the third quarter. Toth Financial Advisory Corp now owns 173 shares of the electronics maker's stock worth $27,000 after purchasing an additional 98 shares in the last quarter. Cornerstone Financial Management LLC lifted its position in shares of Corning by 63.3% in the second quarter. Cornerstone Financial Management LLC now owns 196 shares of the electronics maker's stock worth $50,000 after purchasing an additional 76 shares in the last quarter. Finally, First PREMIER Bank purchased a new stake in shares of Corning in the second quarter worth approximately $51,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Lewis Steverson sold 13,100 shares of the business's stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $151.29, for a total value of $1,981,899.00. Following the completion of the sale, the executive vice president directly owned 15,052 shares in the company, valued at approximately $2,277,217.08. The trade was a 46.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.25% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on GLW shares. JPMorgan Chase & Co. decreased their price target on shares of Corning from $200.00 to $170.00 and set a "neutral" rating for the company in a report on Wednesday, July 29th. Barclays dropped their price objective on shares of Corning from $180.00 to $129.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 29th. UBS Group upped their price objective on shares of Corning from $196.00 to $201.00 and gave the company a "buy" rating in a research note on Monday, October 5th. Truist Financial increased their target price on shares of Corning from $175.00 to $182.00 and gave the stock a "buy" rating in a research report on Friday, October 2nd. Finally, Mizuho decreased their target price on shares of Corning from $210.00 to $180.00 and set an "outperform" rating for the company in a research note on Tuesday, September 15th. Thirteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $177.56.

Corning Price Performance

NYSE GLW opened at $138.31 on Friday. Corning Incorporated has a fifty-two week low of $77.39 and a fifty-two week high of $271.78. The stock's 50-day moving average is $154.85 and its two-hundred day moving average is $168.92. The firm has a market cap of $119.14 billion, a P/E ratio of 63.16, a price-to-earnings-growth ratio of 1.80 and a beta of 1.13. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24.

Corning (NYSE:GLW - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.02. The company had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%. The firm's revenue was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, analysts anticipate that Corning Incorporated will post 3.28 earnings per share for the current fiscal year.

Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 13th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, November 13th. Corning's dividend payout ratio (DPR) is presently 51.14%.

Corning Profile

Corning Incorporated NYSE: GLW is a global materials science and technology company headquartered in Corning, New York. Founded in 1851, the company develops specialized glass, ceramics and optical technologies for customers in the communications, consumer electronics, automotive, life sciences and industrial markets.

Its Optical Communications segment supplies fiber, cable, hardware and related solutions used in telecommunications and data center networks. Corning also produces glass substrates for flat-panel displays, including televisions, monitors and other electronic devices, as well as specialty cover glass such as Gorilla Glass for mobile devices and other consumer electronics.

Additional products include automotive emissions-control substrates and filters, pharmaceutical and laboratory glassware, and advanced glass and ceramic materials used in semiconductor, aerospace, environmental and other applications.

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