Focus Partners Advisor Solutions LLC Increases Stock Holdings in Corning Incorporated $GLW

Key Points

• Focus Partners Advisor Solutions LLC increased its holdings in Corning Incorporated by 63.2%, acquiring an additional 7,884 shares during the first quarter, bringing their total to 20,350 shares valued at approximately $932,000.
• Several major hedge funds, including Deutsche Bank AG and Assenagon Asset Management S.A., have also significantly increased their positions in Corning, highlighting a growing institutional interest in the company.
• Corning's stock received improved ratings from multiple brokerages, with Oppenheimer raising the target price to $72.00 and Wall Street Zen upgrading it to a "strong-buy" rating.

Focus Partners Advisor Solutions LLC increased its holdings in Corning Incorporated (NYSE:GLW - Free Report) by 63.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,350 shares of the electronics maker's stock after acquiring an additional 7,884 shares during the period. Focus Partners Advisor Solutions LLC's holdings in Corning were worth $932,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Vermillion Wealth Management Inc. acquired a new stake in shares of Corning in the fourth quarter worth about $29,000. Putney Financial Group LLC bought a new position in Corning during the fourth quarter valued at about $30,000. Investment Management Corp VA ADV increased its stake in Corning by 165.9% during the first quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker's stock valued at $34,000 after acquiring an additional 463 shares during the period. Annis Gardner Whiting Capital Advisors LLC grew its stake in shares of Corning by 90.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker's stock valued at $34,000 after purchasing an additional 353 shares during the period. Finally, Gen Wealth Partners Inc grew its stake in shares of Corning by 151.7% in the 1st quarter. Gen Wealth Partners Inc now owns 755 shares of the electronics maker's stock valued at $35,000 after purchasing an additional 455 shares during the period. Institutional investors and hedge funds own 69.80% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on GLW. JPMorgan Chase & Co. upped their price objective on Corning from $62.00 to $65.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Morgan Stanley set a $56.00 price target on Corning and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Citigroup increased their price target on Corning from $52.00 to $60.00 and gave the company a "buy" rating in a research note on Friday, July 11th. UBS Group raised Corning from a "neutral" rating to a "buy" rating and increased their price target for the company from $65.00 to $84.00 in a research note on Tuesday, September 2nd. Finally, Barclays increased 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 investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Corning presently has a consensus rating of "Moderate Buy" and a consensus price target of $66.75.

Insider Transactions at Corning

In other news, EVP Lewis A. Steverson sold 16,646 shares of the stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $62.22, for a total value of $1,035,714.12. Following the sale, the executive vice president directly owned 39,759 shares of the company's stock, valued at approximately $2,473,804.98. This represents a 29.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Wendell P. Weeks sold 82,103 shares of the stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $65.19, for a total value 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. This trade represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 163,950 shares of company stock valued at $10,449,192. 0.32% of the stock is currently owned by corporate insiders.

Corning Trading Up 0.7%

GLW stock traded up $0.52 during midday trading on Tuesday, hitting $72.67. The company had a trading volume of 2,330,946 shares, compared to its average volume of 5,738,231. The company has a current ratio of 1.50, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. The stock has a market cap of $62.25 billion, a price-to-earnings ratio of 77.26, a PEG ratio of 1.59 and a beta of 1.09. The stock's 50 day moving average price is $60.99 and its 200 day moving average price is $51.82. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $72.74.

Corning (NYSE:GLW - Get Free Report) last announced its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.03. The company had revenue of $3.86 billion during the quarter, compared to the consensus estimate 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 prior year, the company earned $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. As a group, equities research analysts expect that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, August 29th. Corning's dividend payout ratio is currently 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.