Ethic Inc. Increases Position in Corning Incorporated $GLW

Key Points

• Ethic Inc. increased its holdings in Corning Incorporated by 4.6%, owning 169,878 shares valued at $8.8 million after acquiring additional shares in the second quarter.
• Multiple analysts have issued ratings upgrades for Corning, with price targets raised, including UBS Group increasing its target to $91 and Mizuho to $90.
• Corning announced a quarterly dividend of $0.28 per share, payable on December 12, with a yield of 1.3% and a payout ratio of 119.15%.

Ethic Inc. boosted its holdings in shares of Corning Incorporated (NYSE:GLW - Free Report) by 4.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 169,878 shares of the electronics maker's stock after acquiring an additional 7,509 shares during the period. Ethic Inc.'s holdings in Corning were worth $8,803,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. REAP Financial Group LLC grew its stake in Corning by 191.5% during 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 in the last quarter. Investment Management Corp VA ADV increased its holdings in shares of 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 buying an additional 463 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its holdings in shares of 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 buying an additional 353 shares during the last quarter. Resources Management Corp CT ADV raised its position in shares of Corning by 66.7% during the 1st quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker's stock valued at $34,000 after buying an additional 300 shares during the period. Finally, Gen Wealth Partners Inc raised its position in shares of Corning by 151.7% during the 1st quarter. Gen Wealth Partners Inc now owns 755 shares of the electronics maker's stock valued at $35,000 after buying an additional 455 shares during the period. Hedge funds and other institutional investors own 69.80% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on GLW shares. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Corning in a research report on Wednesday, October 8th. UBS Group lifted their price target on shares of Corning from $84.00 to $91.00 and gave the company a "buy" rating in a research report on Tuesday, September 23rd. Morgan Stanley lifted their price target on shares of Corning from $56.00 to $75.00 and gave the company an "equal weight" rating in a research report on Friday, October 10th. Argus reaffirmed a "buy" rating and set a $68.00 price target on shares of Corning in a research report on Wednesday, July 30th. Finally, Mizuho lifted their price target on shares of Corning from $74.00 to $90.00 and gave the company an "outperform" rating in a research report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $73.00.

Insider Activity at Corning

In other Corning news, SVP Michael Paul O'day sold 14,879 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $62.36, for a total transaction of $927,854.44. Following the sale, the senior vice president directly owned 35,743 shares in the company, valued at $2,228,933.48. This represents a 29.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Jaymin Amin sold 17,721 shares of the 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 owned 88,722 shares in the company, valued at approximately $6,847,563.96. This trade represents a 16.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 181,671 shares of company stock worth $11,816,899 over the last 90 days. 0.40% of the stock is currently owned by corporate insiders.

Corning Stock Performance

NYSE:GLW opened at $84.04 on Thursday. 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 stock has a market capitalization of $71.99 billion, a P/E ratio of 89.40, a PEG ratio of 1.92 and a beta of 1.14. The company has a 50 day moving average price of $76.51 and a 200 day moving average price of $59.42. Corning Incorporated has a fifty-two week low of $37.31 and a fifty-two week 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, topping analysts' consensus estimates of $0.57 by $0.03. The firm 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 quarter last year, the company posted $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Equities research analysts forecast that Corning Incorporated will post 2.33 EPS for the current 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. The ex-dividend date is Friday, November 14th. This represents a $1.12 dividend on an annualized basis and a yield of 1.3%. 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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