Forbes J M & Co. LLP Acquires Shares of 3,867 Corning Incorporated $GLW

Key Points

• Forbes J M & Co. LLP has acquired a new stake in Corning Incorporated, purchasing 3,867 shares valued at approximately $203,000.
• Corning reported earnings of $0.60 EPS for the last quarter, exceeding analyst expectations, and expects a projected EPS of 0.630-0.670 for Q3 2025.
• Institutional investors hold approximately 69.80% of Corning's shares, with significant increases in holdings reported by various investment firms in early 2023.

Forbes J M & Co. LLP acquired a new stake in shares of Corning Incorporated (NYSE:GLW - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,867 shares of the electronics maker's stock, valued at approximately $203,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Investment Management Corp VA ADV increased its holdings in shares of Corning by 165.9% in the 1st quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker's stock worth $34,000 after purchasing an additional 463 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its holdings 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 worth $34,000 after purchasing an additional 353 shares in the last quarter. Resources Management Corp CT ADV increased its holdings in shares of Corning by 66.7% in the 1st quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker's stock worth $34,000 after purchasing an additional 300 shares in the last quarter. Gen Wealth Partners Inc increased its holdings 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 worth $35,000 after purchasing an additional 455 shares in the last quarter. Finally, Banque Transatlantique SA bought a new stake in shares of Corning in the 1st quarter worth $34,000. Institutional investors own 69.80% of the company's stock.

Corning Price Performance

Shares of Corning stock opened at $82.13 on Wednesday. The stock's 50-day simple moving average is $69.09 and its 200-day simple moving average is $55.23. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $82.21. The company has a market capitalization of $70.35 billion, a price-to-earnings ratio of 87.37, a PEG ratio of 1.79 and a beta of 1.09. The company has a quick ratio of 0.93, a current ratio of 1.50 and a debt-to-equity ratio of 0.58.

Corning (NYSE:GLW - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, beating 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 business had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same period 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. As a group, analysts expect that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on GLW shares. Susquehanna reissued a "positive" rating and issued a $75.00 target price (up previously from $60.00) on shares of Corning in a report on Wednesday, July 30th. Mizuho lifted their target price on Corning from $63.00 to $74.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. JPMorgan Chase & Co. raised their price target on Corning from $62.00 to $65.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Wolfe Research initiated coverage on Corning in a research note on Tuesday, July 8th. They issued an "outperform" rating on the stock. Finally, Barclays raised 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. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $70.08.

Insiders Place Their Bets

In other news, SVP Jaymin Amin sold 17,721 shares of the business's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $77.18, for a total value of $1,367,706.78. Following the transaction, the senior vice president directly owned 88,722 shares in the company, valued at $6,847,563.96. The trade was a 16.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lewis A. Steverson sold 16,646 shares of the business's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $62.22, for a total value of $1,035,714.12. Following the completion of the transaction, the executive vice president owned 39,759 shares in the company, valued at $2,473,804.98. The trade was a 29.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 181,671 shares of company stock valued at $11,816,899. Insiders own 0.32% of the company's stock.

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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