Jump Financial LLC Boosts Stock Holdings in Corning Incorporated $GLW

Key Points

• Jump Financial LLC significantly increased its shareholding in Corning Incorporated by 409.1%, acquiring 296,127 shares valued at approximately $13.6 million by the end of the most recent reporting period.
• Corning's recent quarterly earnings surpassed analyst expectations, reporting $0.60 EPS against a consensus of $0.57, with revenue of $3.86 billion for the quarter.
• The company declared a quarterly dividend of $0.28 per share, with a dividend yield of 1.7%, reflecting a payout ratio of 119.15%.

Jump Financial LLC boosted its stake in shares of Corning Incorporated (NYSE:GLW - Free Report) by 409.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 296,127 shares of the electronics maker's stock after purchasing an additional 237,961 shares during the period. Jump Financial LLC's holdings in Corning were worth $13,557,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Brighton Jones LLC raised its stake in shares of Corning by 46.0% in the 4th quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker's stock valued at $319,000 after acquiring an additional 2,114 shares during the period. MML Investors Services LLC grew its holdings in Corning by 7.2% during the 4th quarter. MML Investors Services LLC now owns 73,270 shares of the electronics maker's stock valued at $3,482,000 after purchasing an additional 4,916 shares in the last quarter. Dark Forest Capital Management LP grew its holdings in Corning by 71.7% during the 4th quarter. Dark Forest Capital Management LP now owns 10,631 shares of the electronics maker's stock valued at $505,000 after purchasing an additional 4,439 shares in the last quarter. Coldstream Capital Management Inc. grew its holdings in Corning by 3.7% during the 4th quarter. Coldstream Capital Management Inc. now owns 62,107 shares of the electronics maker's stock valued at $2,951,000 after purchasing an additional 2,194 shares in the last quarter. Finally, Boothbay Fund Management LLC acquired a new stake in Corning during the 4th quarter valued at $247,000. Hedge funds and other institutional investors own 69.80% of the company's stock.

Insider Activity at Corning

In other Corning news, CFO Edward A. Schlesinger sold 14,082 shares of the business's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $62.28, for a total transaction of $877,026.96. Following the sale, the chief financial officer directly owned 78,316 shares in the company, valued at approximately $4,877,520.48. The trade was a 15.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Wendell P. Weeks sold 82,103 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $65.19, for a total transaction of $5,352,294.57. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 211,484 shares of company stock worth $12,813,804 in the last three months. Insiders own 0.40% of the company's stock.

Corning Trading Up 1.2%

Corning stock opened at $65.6850 on Friday. The firm's 50-day moving average is $57.16 and its 200-day moving average is $50.59. 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 Incorporated has a 1 year low of $37.31 and a 1 year high of $66.50. The company has a market cap of $56.27 billion, a P/E ratio of 69.88, a PEG ratio of 1.47 and a beta of 1.08.

Corning (NYSE:GLW - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share (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 company had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same period last year, the firm posted $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. On average, equities analysts expect that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, August 29th. Corning's payout ratio is 119.15%.

Analysts Set New Price Targets

GLW has been the subject of a number of recent analyst reports. Morgan Stanley set a $56.00 price target on shares of Corning and gave the company an "equal weight" rating in a report on Wednesday, July 30th. Citigroup raised their price target on shares of Corning from $52.00 to $60.00 and gave the company a "buy" rating in a report on Friday, July 11th. Susquehanna reaffirmed a "positive" rating and set a $75.00 price target (up from $60.00) on shares of Corning in a report on Wednesday, July 30th. Argus reaffirmed a "buy" rating and set a $68.00 price target on shares of Corning in a report on Wednesday, July 30th. Finally, Wall Street Zen raised shares of Corning from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $65.17.

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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