Journey Advisory Group LLC Invests $227,000 in Corning Incorporated $GLW

Key Points

• Journey Advisory Group LLC has made a new investment of $227,000 in Corning Incorporated, acquiring 4,321 shares during the second quarter.
• Analyst ratings for Corning show a mixed outlook, with Oppenheimer raising their price target from $55.00 to $72.00 and Morgan Stanley increasing theirs from $56.00 to $75.00, while others have issued a "hold" rating.
• Corning's quarterly results reported an EPS of $0.60, surpassing expectations and showing a net margin of 5.77%, alongside an upcoming dividend payout of $0.28 scheduled for December 12th.

Journey Advisory Group LLC purchased a new position in Corning Incorporated (NYSE:GLW - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,321 shares of the electronics maker's stock, valued at approximately $227,000.

Other hedge funds have also recently made changes to their positions in the company. REAP Financial Group LLC grew its holdings in shares of Corning by 191.5% in the second quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker's stock worth $27,000 after purchasing an additional 339 shares during the last quarter. Investment Management Corp VA ADV lifted its stake in Corning by 165.9% in the first quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker's stock worth $34,000 after acquiring an additional 463 shares during the period. Annis Gardner Whiting Capital Advisors LLC lifted its stake 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 worth $34,000 after acquiring an additional 353 shares during the period. Banque Transatlantique SA purchased a new stake in Corning in the first quarter worth about $34,000. Finally, Resources Management Corp CT ADV lifted its stake 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. 69.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wall Street Zen lowered shares of Corning from a "strong-buy" rating to a "hold" rating in a research note on Saturday, September 13th. Morgan Stanley upped their price objective on shares of Corning from $56.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Friday, October 10th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Corning in a research note on Wednesday, October 8th. Oppenheimer reaffirmed an "outperform" rating and issued a $72.00 price objective (up from $55.00) on shares of Corning in a research note on Wednesday, July 30th. Finally, UBS Group increased their price target on shares of Corning from $84.00 to $91.00 and gave the company a "buy" rating in a research report on Tuesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $73.00.

Corning Stock Performance

GLW stock opened at $85.31 on Tuesday. The firm has a market cap of $73.08 billion, a price-to-earnings ratio of 90.75, a PEG ratio of 1.89 and a beta of 1.14. The firm has a 50-day simple moving average of $75.74 and a two-hundred day simple moving average of $59.06. Corning Incorporated has a one year low of $37.31 and a one year high of $87.78. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.50.

Corning (NYSE:GLW - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The electronics maker reported $0.60 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 net margin of 5.77% and a return on equity of 17.27%. During the same period in the prior year, the firm posted $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. On average, equities analysts forecast that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 14th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, November 14th. Corning's dividend payout ratio (DPR) is presently 119.15%.

Insider Transactions at Corning

In related news, EVP Lewis A. Steverson sold 16,646 shares of the stock in a transaction that occurred 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 transaction, the executive vice president directly owned 39,759 shares of the company's stock, valued at $2,473,804.98. This trade represents a 29.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Avery H. Nelson III sold 36,240 shares of the 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 completion of the transaction, the chief operating officer directly owned 64,838 shares of the company's stock, valued at $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. Insiders sold a total of 181,671 shares of company stock worth $11,816,899 over the last ninety days. 0.32% of the stock is currently owned by insiders.

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.

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