Focus Partners Advisor Solutions LLC Has $932,000 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 raised its position in Corning Incorporated (NYSE:GLW - Free Report) by 63.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,350 shares of the electronics maker's stock after buying an additional 7,884 shares during the quarter. Focus Partners Advisor Solutions LLC's holdings in Corning were worth $932,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Polar Capital Holdings Plc bought a new stake in Corning during the 4th quarter worth approximately $124,253,000. Nuveen LLC purchased a new stake in shares of Corning during the 1st quarter worth approximately $104,789,000. Assenagon Asset Management S.A. boosted its holdings in Corning by 101.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,951,938 shares of the electronics maker's stock valued at $135,140,000 after purchasing an additional 1,483,151 shares during the period. SG Americas Securities LLC increased its position in shares of Corning by 3,441.4% in the first quarter. SG Americas Securities LLC now owns 1,190,359 shares of the electronics maker's stock valued at $54,495,000 after acquiring an additional 1,156,746 shares during the period. Finally, Deutsche Bank AG boosted its stake in 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 acquiring an additional 1,037,875 shares in the last quarter. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Corning

In other Corning news, CFO Edward A. Schlesinger sold 14,082 shares of the stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $62.28, for a total value of $877,026.96. Following the completion of the sale, the chief financial officer owned 78,316 shares in the company, valued at approximately $4,877,520.48. This represents a 15.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Avery H. Nelson III sold 36,240 shares of Corning stock in a transaction that occurred on 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 directly owned 64,838 shares in the company, valued at approximately $4,036,813.88. The trade was a 35.85% 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 worth $10,449,192. 0.32% of the stock is owned by corporate insiders.

Corning Stock Performance

NYSE GLW traded up $0.90 during trading on Monday, hitting $72.09. The company's stock had a trading volume of 9,875,535 shares, compared to its average volume of 5,718,348. The firm has a 50 day moving average price of $60.60 and a 200 day moving average price of $51.67. The company has a quick ratio of 0.93, a current ratio of 1.50 and a debt-to-equity ratio of 0.58. The firm has a market cap of $61.75 billion, a P/E ratio of 76.69, a price-to-earnings-growth ratio of 1.59 and a beta of 1.09. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $72.54.

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, 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 company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.84 billion. During the same period 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. Equities research analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, August 29th. Corning's payout ratio is presently 119.15%.

Analyst Ratings Changes

GLW has been the subject of several research reports. Mizuho increased their price objective on shares of Corning from $63.00 to $74.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Susquehanna reiterated a "positive" rating and issued a $75.00 target price (up from $60.00) on shares of Corning in a research note on Wednesday, July 30th. UBS Group raised shares of Corning from a "neutral" rating to a "buy" rating and lifted their target price for the company from $65.00 to $84.00 in a report on Tuesday, September 2nd. Barclays upped their target price on shares of Corning from $52.00 to $65.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Finally, Citigroup increased their price target on shares of Corning from $52.00 to $60.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $66.75.

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.