Corning Incorporated $GLW Stake Increased by O Keefe Stevens Advisory Inc.

Key Points

• O Keefe Stevens Advisory Inc. increased its stake in Corning Incorporated (NYSE:GLW) by 1.6% during the 2nd quarter, owning 317,119 shares valued at approximately $16.68 million.
• Multiple institutional investors, including Amundi and Deutsche Bank AG, significantly boosted their holdings in Corning, which collectively comprise 69.80% of the company's stock.
• Corning reported earnings of $0.60 per share for the last quarter, exceeding analysts' expectations, and set its Q3 2025 EPS guidance between $0.630 and $0.670.

O Keefe Stevens Advisory Inc. grew its stake in shares of Corning Incorporated (NYSE:GLW - Free Report) by 1.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 317,119 shares of the electronics maker's stock after buying an additional 5,117 shares during the quarter. Corning accounts for 4.7% of O Keefe Stevens Advisory Inc.'s investment portfolio, making the stock its 4th biggest position. O Keefe Stevens Advisory Inc.'s holdings in Corning were worth $16,677,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Amundi lifted its stake in Corning by 64.3% in the first quarter. Amundi now owns 6,408,605 shares of the electronics maker's stock worth $271,237,000 after purchasing an additional 2,507,797 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Corning by 1.3% during 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 buying an additional 80,872 shares during the period. Invesco Ltd. boosted its position in Corning by 4.8% during the first quarter. Invesco Ltd. now owns 6,337,063 shares of the electronics maker's stock valued at $290,111,000 after buying an additional 288,328 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Corning by 10.6% during 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 buying an additional 558,184 shares during the period. Finally, Deutsche Bank AG boosted its position in Corning by 37.1% during the first quarter. Deutsche Bank AG now owns 3,835,799 shares of the electronics maker's stock valued at $175,603,000 after buying an additional 1,037,875 shares during the period. Hedge funds and other institutional investors own 69.80% of the company's stock.

Insider Activity at Corning

In related news, COO Avery H. Nelson III sold 36,240 shares of the business's 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 transaction, the chief operating officer owned 64,838 shares in the company, valued at $4,036,813.88. The trade was a 35.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Wendell P. Weeks sold 82,103 shares of the business's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $65.19, for a total transaction of $5,352,294.57. Following the sale, the chief executive officer directly owned 809,295 shares in the company, valued at $52,757,941.05. The trade was a 9.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 181,671 shares of company stock valued at $11,816,899 over the last three months. Corporate insiders own 0.40% of the company's stock.

Corning Price Performance

Shares of NYSE GLW opened at $83.60 on Friday. Corning Incorporated has a 1 year low of $37.31 and a 1 year high of $84.35. 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's 50-day moving average is $70.74 and its 200 day moving average is $55.96. The stock has a market capitalization of $71.62 billion, a P/E ratio of 88.94, a P/E/G ratio of 1.86 and a beta of 1.14.

Corning (NYSE:GLW - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $3.84 billion. During the same quarter in the previous year, the company earned $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. On average, sell-side analysts expect that Corning Incorporated will post 2.33 earnings per share for the current year.

Analysts Set New Price Targets

GLW has been the subject of several analyst reports. Wall Street Zen lowered shares of Corning from a "strong-buy" rating to a "hold" rating in a research report on Saturday, September 13th. Barclays upped their price target on shares of Corning from $52.00 to $65.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 30th. Weiss Ratings restated a "hold (c+)" rating on shares of Corning in a research report on Saturday, September 27th. Morgan Stanley set a $56.00 price target on shares of Corning and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Finally, Susquehanna reissued a "positive" rating and issued a $75.00 price target (up previously from $60.00) on shares of Corning in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Corning has an average rating of "Moderate Buy" and a consensus target price of $71.42.

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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