Diversified Enterprises LLC Invests $210,000 in Corning Incorporated $GLW

Key Points

• Diversified Enterprises LLC invested $210,000 in Corning Incorporated by acquiring 3,984 shares in the second quarter.
• Corning reported a quarterly earnings per share (EPS) of $0.60, exceeding analysts' expectations, along with revenue of $3.86 billion.
• Major institutional investors hold approximately 69.80% of Corning's stock, indicating strong interest from large investment firms.

Diversified Enterprises LLC bought a new position in Corning Incorporated (NYSE:GLW - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,984 shares of the electronics maker's stock, valued at approximately $210,000.

A number of other large investors also recently bought and sold shares of the stock. Davis Investment Partners LLC acquired a new position in Corning in the 2nd quarter valued at about $251,000. Central Pacific Bank Trust Division boosted its holdings in Corning by 23.6% during the second quarter. Central Pacific Bank Trust Division now owns 72,982 shares of the electronics maker's stock valued at $3,838,000 after acquiring an additional 13,920 shares during the period. Strs Ohio acquired a new stake in Corning during the first quarter valued at approximately $27,219,000. Acadian Asset Management LLC boosted its holdings in Corning by 4,346.5% in the first quarter. Acadian Asset Management LLC now owns 153,984 shares of the electronics maker's stock valued at $7,048,000 after acquiring an additional 150,521 shares during the last quarter. Finally, Intech Investment Management LLC boosted its holdings in shares of Corning by 507.6% in the first quarter. Intech Investment Management LLC now owns 211,124 shares of the electronics maker's stock valued at $9,665,000 after buying an additional 176,379 shares during the period. Institutional investors and hedge funds own 69.80% of the company's stock.

Corning Trading Up 0.3%

Corning stock opened at $79.33 on Friday. The stock has a market cap of $67.96 billion, a P/E ratio of 84.39, a PEG ratio of 1.77 and a beta of 1.09. Corning Incorporated has a fifty-two week low of $37.31 and a fifty-two week high of $81.58. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.50. The firm's fifty day moving average price is $68.01 and its 200-day moving average price is $54.74.

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

Insider Activity at Corning

In related news, SVP Jaymin Amin sold 17,721 shares of the company's stock in a transaction that occurred on Wednesday, September 17th. The stock was 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Avery H. Nelson III sold 36,240 shares of the company's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $62.26, for a total value of $2,256,302.40. Following the completion of the transaction, the chief operating officer owned 64,838 shares in the company, valued at $4,036,813.88. This represents a 35.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold 181,671 shares of company stock valued at $11,816,899 over the last ninety days. 0.40% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Wolfe Research started coverage on shares of Corning in a report on Tuesday, July 8th. They set an "outperform" rating for the company. Barclays boosted their price target on Corning from $52.00 to $65.00 and gave the stock an "equal weight" rating 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. Wall Street Zen cut Corning from a "strong-buy" rating to a "hold" rating in a report on Saturday, September 13th. Finally, UBS Group raised their target price on Corning from $84.00 to $91.00 and gave the company a "buy" rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Corning presently has a consensus rating of "Moderate Buy" and an average price target of $70.08.

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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