Joule Financial LLC Makes New $215,000 Investment in Corning Incorporated $GLW

Key Points

• Joule Financial LLC invested $215,000 in Corning Incorporated, acquiring 4,088 shares of the electronics maker's stock.
• Corning's stock has a market capitalization of $71.62 billion and a P/E ratio of 88.94, with a consensus price target of $71.42 according to analysts.
• Insider trading activity includes CEO Wendell P. Weeks selling over 82,000 shares for approximately $5.35 million, indicating a decrease in his ownership position by 9.21%.

Joule Financial LLC purchased a new stake in shares of Corning Incorporated (NYSE:GLW - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 4,088 shares of the electronics maker's stock, valued at approximately $215,000.

Other hedge funds have also recently modified their holdings of the company. Investment Management Corp VA ADV boosted its holdings in Corning by 165.9% in the 1st quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker's stock valued at $34,000 after purchasing an additional 463 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in Corning by 90.1% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker's stock valued at $34,000 after acquiring an additional 353 shares during the last quarter. Resources Management Corp CT ADV grew its position in Corning by 66.7% in the first quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker's stock worth $34,000 after acquiring an additional 300 shares during the period. Gen Wealth Partners Inc grew its position in Corning by 151.7% in the first quarter. Gen Wealth Partners Inc now owns 755 shares of the electronics maker's stock worth $35,000 after acquiring an additional 455 shares during the period. Finally, Banque Transatlantique SA acquired a new stake in Corning during the first quarter worth $34,000. Hedge funds and other institutional investors own 69.80% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Wall Street Zen lowered Corning from a "strong-buy" rating to a "hold" rating in a research note on Saturday, September 13th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Corning in a research report on Saturday, September 27th. Barclays lifted their price target on shares of Corning from $52.00 to $65.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 30th. Argus restated a "buy" rating and issued a $68.00 price objective on shares of Corning in a report on Wednesday, July 30th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $72.00 price objective (up previously from $55.00) on shares of Corning in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $71.42.

Corning Stock Performance

Shares of GLW stock opened at $83.60 on Monday. The firm has a 50 day moving average of $70.74 and a two-hundred day moving average of $56.02. The stock has a market capitalization of $71.62 billion, a PE ratio of 88.94, a P/E/G ratio of 1.86 and a beta of 1.14. 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 Incorporated has a 52 week low of $37.31 and a 52 week high of $84.35.

Corning (NYSE:GLW - Get Free Report) last announced its quarterly earnings data 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. 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 analysts' expectations of $3.84 billion. During the same period last year, the firm earned $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. On average, research analysts predict that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Insider Buying and Selling at Corning

In other Corning news, CEO Wendell P. Weeks sold 82,103 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $65.19, for a total transaction of $5,352,294.57. Following the completion of the transaction, the chief executive officer owned 809,295 shares in the company, valued at $52,757,941.05. The trade was a 9.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Michael Paul O'day sold 14,879 shares of the firm's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $62.36, for a total transaction of $927,854.44. Following the completion of the sale, the senior vice president owned 35,743 shares in the company, valued at $2,228,933.48. The trade was a 29.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 181,671 shares of company stock valued at $11,816,899. 0.32% of the stock is currently owned by company insiders.

Corning 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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