Graham Capital Management L.P. Boosts Stock Holdings in Corning Incorporated $GLW

Key Points

• Graham Capital Management L.P. increased its stake in Corning Incorporated by 22.6%, bringing its total holdings to approximately $7.76 million after purchasing an additional 31,260 shares during the first quarter.
• Corning reported a quarterly earnings per share (EPS) of $0.60, surpassing analyst estimates, and has projected a Q3 2025 EPS guidance between 0.630-0.670.
• The company announced a quarterly dividend of $0.28 per share to be paid on September 29, indicating a 1.7% yield and a dividend payout ratio of 119.15%.

Graham Capital Management L.P. increased its stake in Corning Incorporated (NYSE:GLW - Free Report) by 22.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 169,523 shares of the electronics maker's stock after purchasing an additional 31,260 shares during the period. Graham Capital Management L.P.'s holdings in Corning were worth $7,761,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Cyrus J. Lawrence LLC increased its position in shares of Corning by 890.0% in the first quarter. Cyrus J. Lawrence LLC now owns 9,900 shares of the electronics maker's stock worth $453,000 after purchasing an additional 8,900 shares during the last quarter. Vident Advisory LLC grew its position in Corning by 295.5% during the first quarter. Vident Advisory LLC now owns 64,780 shares of the electronics maker's stock valued at $2,966,000 after acquiring an additional 48,400 shares during the last quarter. Magnetar Financial LLC grew its position in Corning by 255.8% during the first quarter. Magnetar Financial LLC now owns 16,949 shares of the electronics maker's stock valued at $776,000 after acquiring an additional 12,185 shares during the last quarter. Canada Pension Plan Investment Board grew its position in Corning by 33.4% during the first quarter. Canada Pension Plan Investment Board now owns 395,743 shares of the electronics maker's stock valued at $18,117,000 after acquiring an additional 99,066 shares during the last quarter. Finally, State of Wyoming boosted its stake in shares of Corning by 41.0% during the first quarter. State of Wyoming now owns 11,581 shares of the electronics maker's stock valued at $530,000 after purchasing an additional 3,368 shares during the period. 69.80% of the stock is currently owned by institutional investors.

Insider Activity

In other Corning news, CEO Wendell P. Weeks sold 82,103 shares of the firm's 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 sale, the chief executive officer owned 809,295 shares of the company's stock, valued at approximately $52,757,941.05. This trade represents a 9.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Lewis A. Steverson sold 16,646 shares of the firm's stock in a transaction on 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 sale, the executive vice president directly owned 39,759 shares in the company, valued at approximately $2,473,804.98. This represents a 29.51% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 163,950 shares of company stock valued at $10,449,192. Corporate insiders own 0.40% of the company's stock.

Corning Price Performance

NYSE:GLW traded up $1.45 during mid-day trading on Friday, reaching $71.17. 5,508,495 shares of the stock were exchanged, compared to its average volume of 5,690,721. The company has a current ratio of 1.50, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. Corning Incorporated has a 1-year low of $37.31 and a 1-year high of $70.97. The firm has a market capitalization of $60.97 billion, a PE ratio of 75.66, a PEG ratio of 1.55 and a beta of 1.09. The business has a fifty day moving average price of $60.22 and a 200 day moving average price of $51.55.

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, beating the consensus estimate of $0.57 by $0.03. The business had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.84 billion. Corning had a return on equity of 17.27% and a net margin of 5.77%.During the same period in the previous year, the company earned $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. 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 declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.12 annualized dividend and a yield of 1.6%. Corning's dividend payout ratio is 119.15%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GLW. Susquehanna reaffirmed a "positive" rating and set a $75.00 target price (up previously from $60.00) on shares of Corning in a research note on Wednesday, July 30th. Citigroup upped their price objective on shares of Corning from $52.00 to $60.00 and gave the company a "buy" rating in a report on Friday, July 11th. Barclays lifted their target price on shares of Corning from $52.00 to $65.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. Mizuho upped their target price on shares of Corning from $63.00 to $74.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Finally, Morgan Stanley set a $56.00 price objective on shares of Corning and gave the company 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 assigned a Hold rating to the stock. Based on data from MarketBeat.com, Corning has an average rating of "Moderate Buy" and a consensus price target 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.