KRS Capital Management LLC Takes $207,000 Position in Corning Incorporated $GLW

Key Points

• KRS Capital Management LLC has established a position in Corning Incorporated, acquiring 3,940 shares valued at approximately $207,000 during the second quarter.
• Corning recently reported earnings per share of $0.60, exceeding estimates, with a net margin of 5.77% and a revenue of $3.86 billion for the quarter.
• The company announced a quarterly dividend of $0.28, set to be paid on December 12, reflecting an annualized yield of 1.3% and a payout ratio of 119.15%.

KRS Capital Management LLC acquired a new stake in Corning Incorporated (NYSE:GLW - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,940 shares of the electronics maker's stock, valued at approximately $207,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Davis Investment Partners LLC bought a new position in Corning in the second quarter worth approximately $251,000. Central Pacific Bank Trust Division increased its stake in Corning by 23.6% during the 2nd quarter. Central Pacific Bank Trust Division now owns 72,982 shares of the electronics maker's stock valued at $3,838,000 after purchasing an additional 13,920 shares in the last quarter. Strs Ohio bought a new stake in Corning during the 1st quarter valued at $27,219,000. Acadian Asset Management LLC increased its stake in Corning by 4,346.5% during the 1st quarter. Acadian Asset Management LLC now owns 153,984 shares of the electronics maker's stock valued at $7,048,000 after purchasing an additional 150,521 shares in the last quarter. Finally, Intech Investment Management LLC increased its stake in Corning by 507.6% during the 1st quarter. Intech Investment Management LLC now owns 211,124 shares of the electronics maker's stock valued at $9,665,000 after purchasing an additional 176,379 shares in the last quarter. Institutional investors own 69.80% of the company's stock.

Corning Stock Performance

NYSE GLW opened at $87.24 on Friday. Corning Incorporated has a 1 year low of $37.31 and a 1 year high of $87.75. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.50 and a quick ratio of 0.93. The firm has a market cap of $74.73 billion, a price-to-earnings ratio of 92.81, a PEG ratio of 1.94 and a beta of 1.14. The company has a fifty day moving average price of $72.77 and a 200-day moving average price of $56.94.

Corning (NYSE:GLW - Get Free Report) last posted its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. Corning had a net margin of 5.77% and a return on equity of 17.27%. The firm had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.84 billion. During the same quarter in the prior year, the business posted $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. As a group, equities research analysts predict that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Corning from $62.00 to $65.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Wall Street Zen lowered shares of Corning from a "strong-buy" rating to a "hold" rating in a research note on Saturday, September 13th. Oppenheimer restated an "outperform" rating and set a $72.00 price target (up previously from $55.00) on shares of Corning in a research note on Wednesday, July 30th. Barclays boosted their price target on shares of Corning from $52.00 to $65.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Finally, Susquehanna restated a "positive" rating and set a $75.00 price target (up previously from $60.00) on shares of Corning in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, Corning has an average rating of "Moderate Buy" and an average target price of $71.42.

Insider Buying and Selling

In related news, EVP Lewis A. Steverson sold 16,646 shares of the business's stock in a transaction dated 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 transaction, the executive vice president directly owned 39,759 shares of the company's stock, valued at approximately $2,473,804.98. The trade was a 29.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jaymin Amin sold 17,721 shares of the business's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $77.18, for a total transaction of $1,367,706.78. Following the completion of the transaction, the senior vice president directly owned 88,722 shares in the company, valued at $6,847,563.96. This trade represents 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 worth $11,816,899 in the last ninety days. Corporate insiders own 0.40% of the company's stock.

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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