FNY Investment Advisers LLC Purchases Shares of 25,183 Corning Incorporated $GLW

Key Points

• FNY Investment Advisers LLC acquired 25,183 shares of Corning Incorporated in Q2, valued at around $1.32 million.
• Corning's latest earnings report showed a 0.60 EPS, surpassing estimates, and a revenue of $3.86 billion, exceeding analyst expectations of $3.84 billion.
• The company announced a quarterly dividend of $0.28 per share, with a payout ratio of 119.15%, to be paid on December 12th.

FNY Investment Advisers LLC acquired a new stake in Corning Incorporated (NYSE:GLW - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 25,183 shares of the electronics maker's stock, valued at approximately $1,324,000.

Several other large investors have also modified their holdings of the company. Amundi lifted its holdings in shares of Corning by 64.3% during 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 period. Bank of New York Mellon Corp lifted its holdings in shares of 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 worth $290,610,000 after purchasing an additional 80,872 shares during the period. Invesco Ltd. lifted its holdings in shares of Corning by 4.8% during the first quarter. Invesco Ltd. now owns 6,337,063 shares of the electronics maker's stock worth $290,111,000 after purchasing an additional 288,328 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of 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 worth $267,546,000 after purchasing an additional 558,184 shares during the period. Finally, Deutsche Bank AG lifted its holdings in shares of Corning by 37.1% during the first quarter. Deutsche Bank AG now owns 3,835,799 shares of the electronics maker's stock worth $175,603,000 after purchasing an additional 1,037,875 shares during the period. 69.80% of the stock is owned by institutional investors and hedge funds.

Corning Price Performance

Shares of NYSE GLW opened at $86.18 on Wednesday. Corning Incorporated has a 1-year low of $37.31 and a 1-year high of $87.78. 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 business's fifty day moving average price is $76.15 and its two-hundred day moving average price is $59.25. The firm has a market capitalization of $73.82 billion, a PE ratio of 91.68, a P/E/G ratio of 1.90 and a beta of 1.14.

Corning (NYSE:GLW - Get Free Report) last issued its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. Corning had a return on equity of 17.27% and a net margin of 5.77%.The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.84 billion. During the same period last year, the company earned $0.47 earnings per share. 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 EPS for the current year.

Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 14th will be paid 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 yield of 1.3%. Corning's dividend payout ratio (DPR) is currently 119.15%.

Insider Buying and Selling at Corning

In related news, CEO Wendell P. Weeks sold 82,103 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $65.19, for a total value of $5,352,294.57. Following the completion of the transaction, the chief executive officer owned 809,295 shares in the company, valued at $52,757,941.05. This trade represents a 9.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Jaymin Amin sold 17,721 shares of the stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $77.18, for a total value of $1,367,706.78. Following the completion of the transaction, the senior vice president owned 88,722 shares of the company's stock, valued at $6,847,563.96. This trade represents a 16.65% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 181,671 shares of company stock valued at $11,816,899. Corporate insiders own 0.32% of the company's stock.

Analyst Ratings Changes

GLW has been the subject of a number of recent analyst reports. Argus reissued a "buy" rating and issued a $68.00 target price on shares of Corning in a report on Wednesday, July 30th. Wall Street Zen cut Corning from a "strong-buy" rating to a "hold" rating in a research report on Saturday, September 13th. Citigroup lifted their price objective on Corning from $72.00 to $93.00 and gave the stock a "buy" rating in a research report on Wednesday, September 24th. Oppenheimer reaffirmed an "outperform" rating and set a $72.00 price objective (up previously from $55.00) on shares of Corning in a research note on Wednesday, July 30th. Finally, Barclays boosted their target price on Corning from $52.00 to $65.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. One 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 MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $73.00.

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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