Kingstone Capital Partners Texas LLC Purchases Shares of 1,760,030 Corning Incorporated $GLW

Key Points

• Kingstone Capital Partners Texas LLC acquired 1,760,030 shares of Corning Incorporated, valued at approximately $92.56 million, representing about 0.21% of the company's stock.
• Corning's recent earnings report showed an EPS of $0.60, exceeding estimates, with a quarterly revenue of $3.86 billion and a return on equity of 17.27%.
• The company announced a quarterly dividend of $0.28 per share, contributing to an annualized yield of 1.4%, with a current dividend payout ratio of 119.15%.

Kingstone Capital Partners Texas LLC purchased a new stake in Corning Incorporated (NYSE:GLW - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,760,030 shares of the electronics maker's stock, valued at approximately $92,560,000. Kingstone Capital Partners Texas LLC owned about 0.21% of Corning as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vermillion Wealth Management Inc. purchased a new stake in Corning in the fourth quarter valued at about $29,000. Putney Financial Group LLC purchased a new stake in Corning in the fourth quarter valued at about $30,000. Investment Management Corp VA ADV raised 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 valued at $34,000 after buying an additional 463 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC raised 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 valued at $34,000 after buying an additional 353 shares during the last quarter. Finally, Resources Management Corp CT ADV raised its stake in shares of 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 purchasing an additional 300 shares during the last quarter. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Corning Stock Down 0.1%

Corning stock opened at $79.57 on Friday. The firm has a market cap of $68.16 billion, a price-to-earnings ratio of 84.65, a price-to-earnings-growth ratio of 1.78 and a beta of 1.09. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $79.98. The business's 50-day moving average price is $65.38 and its 200 day moving average price is $53.50. 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 posted its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. The firm had revenue of $3.86 billion for 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 last year, the company earned $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. As a group, sell-side analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, August 29th. Corning's dividend payout ratio (DPR) is presently 119.15%.

Insider Buying and Selling

In other Corning news, CEO Wendell P. Weeks sold 82,103 shares of the firm'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 value of $5,352,294.57. Following the sale, the chief executive officer directly 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jaymin Amin sold 17,721 shares of the firm's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $77.18, for a total value of $1,367,706.78. Following the completion of the sale, the senior vice president directly owned 88,722 shares in the company, valued at approximately $6,847,563.96. The trade was a 16.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 181,671 shares of company stock valued at $11,816,899 in the last 90 days. Corporate insiders own 0.40% of the company's stock.

Analyst Upgrades and Downgrades

GLW has been the subject of several research analyst reports. Oppenheimer restated 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. Mizuho raised their price objective on Corning from $63.00 to $74.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Susquehanna restated a "positive" rating and issued a $75.00 price objective (up from $60.00) on shares of Corning in a research note on Wednesday, July 30th. JPMorgan Chase & Co. raised their price objective on Corning from $62.00 to $65.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Finally, Wall Street Zen cut Corning from a "strong-buy" rating to a "hold" rating in a research note on Saturday, September 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Corning has a consensus rating of "Moderate Buy" and an average price target of $66.75.

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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