Intech Investment Management LLC Has $9.67 Million Position in Corning Incorporated $GLW

Key Points

• Intech Investment Management LLC significantly increased its stake in Corning Incorporated by 507.6%, now holding approximately $9.67 million worth of shares.
• Corning's recent quarterly earnings exceeded expectations, reporting an EPS of $0.60, up from $0.47, with guidance set at 0.630-0.670 EPS for Q3 2025.
• A dividend of $0.28 per share has been declared, reflecting a 1.5% yield, with the ex-dividend date set for August 29th.

Intech Investment Management LLC grew its stake in Corning Incorporated (NYSE:GLW - Free Report) by 507.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 211,124 shares of the electronics maker's stock after acquiring an additional 176,379 shares during the quarter. Intech Investment Management LLC's holdings in Corning were worth $9,665,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of GLW. Polar Capital Holdings Plc bought a new stake in Corning in the fourth quarter valued at approximately $124,253,000. Amundi grew its holdings in shares of Corning by 64.3% in the 1st quarter. Amundi now owns 6,408,605 shares of the electronics maker's stock valued at $271,237,000 after buying an additional 2,507,797 shares during the period. Nuveen LLC bought a new stake in shares of Corning in the 1st quarter valued at $104,789,000. Assenagon Asset Management S.A. raised its stake in Corning by 101.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,951,938 shares of the electronics maker's stock worth $135,140,000 after buying an additional 1,483,151 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in Corning by 3,441.4% during the first quarter. SG Americas Securities LLC now owns 1,190,359 shares of the electronics maker's stock worth $54,495,000 after acquiring an additional 1,156,746 shares in the last quarter. Institutional investors own 69.80% of the company's stock.

Insider Buying and Selling

In other Corning news, COO Avery H. Nelson III sold 36,240 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $62.26, for a total value of $2,256,302.40. Following the completion of the transaction, the chief operating officer directly owned 64,838 shares in the company, valued at $4,036,813.88. This trade represents a 35.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Lewis A. Steverson sold 16,646 shares of the company's stock in a transaction that occurred 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 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. Insiders have sold 163,950 shares of company stock worth $10,449,192 over the last three months. Company insiders own 0.40% of the company's stock.

Corning Trading Up 3.5%

NYSE:GLW opened at $74.93 on Thursday. The company has a market cap of $64.19 billion, a P/E ratio of 79.71, a price-to-earnings-growth ratio of 1.62 and a beta of 1.09. Corning Incorporated has a twelve month low of $37.31 and a twelve month high of $75.05. The business has a 50 day moving average price of $61.83 and a two-hundred day moving average price of $52.12. 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, topping analysts' consensus estimates of $0.57 by $0.03. Corning had a net margin of 5.77% and a return on equity of 17.27%. The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.84 billion. During the same quarter in the previous year, the firm posted $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 EPS for the current fiscal year.

Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, August 29th. Corning's dividend payout ratio is currently 119.15%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GLW. Wall Street Zen upgraded Corning from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 2nd. Barclays boosted their price objective on Corning from $52.00 to $65.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 30th. Mizuho raised their target price on shares of Corning from $63.00 to $74.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Oppenheimer reiterated an "outperform" rating and issued a $72.00 price target (up previously from $55.00) on shares of Corning in a report on Wednesday, July 30th. Finally, Wolfe Research initiated coverage on shares of Corning in a research report on Tuesday, July 8th. They set an "outperform" rating for the company. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $66.75.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.