Landscape Capital Management L.L.C. Invests $352,000 in Corning Incorporated $GLW

Key Points

• Landscape Capital Management L.L.C. acquired a new position in Corning Incorporated, purchasing 7,697 shares valued at approximately $352,000.
• Recent insider trades showed significant selling activity, with executives selling over 163,950 shares in the last three months.
• Corning announced a quarterly dividend of $0.28 per share, with a payment date set for September 29th, resulting in an annualized yield of 1.7%.

Landscape Capital Management L.L.C. purchased a new position in shares of Corning Incorporated (NYSE:GLW - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,697 shares of the electronics maker's stock, valued at approximately $352,000.

Several other institutional investors have also modified their holdings of GLW. Polar Capital Holdings Plc purchased a new stake in Corning in the 4th quarter valued at approximately $124,253,000. Nuveen LLC purchased a new stake in Corning in the 1st quarter valued at approximately $104,789,000. Assenagon Asset Management S.A. lifted its stake in Corning by 101.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,951,938 shares of the electronics maker's stock valued at $135,140,000 after buying an additional 1,483,151 shares in the last quarter. SG Americas Securities LLC lifted its stake in Corning by 3,441.4% in the 1st quarter. SG Americas Securities LLC now owns 1,190,359 shares of the electronics maker's stock valued at $54,495,000 after buying an additional 1,156,746 shares in the last quarter. Finally, Deutsche Bank AG lifted its stake in Corning by 37.1% in the 1st quarter. Deutsche Bank AG now owns 3,835,799 shares of the electronics maker's stock valued at $175,603,000 after buying an additional 1,037,875 shares in the last quarter. Hedge funds and other institutional investors own 69.80% of the company's stock.

Corning Trading Up 1.3%

Shares of GLW stock traded up $0.86 on Wednesday, reaching $69.33. 13,163,593 shares of the stock were exchanged, compared to its average volume of 4,860,904. The stock has a market cap of $59.39 billion, a P/E ratio of 73.76, a price-to-earnings-growth ratio of 1.50 and a beta of 1.09. The company has a quick ratio of 0.93, a current ratio of 1.50 and a debt-to-equity ratio of 0.58. The firm has a 50 day moving average of $59.86 and a two-hundred day moving average of $51.43. Corning Incorporated has a 1-year low of $37.31 and a 1-year high of $69.79.

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

Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, August 29th. Corning's dividend payout ratio is currently 119.15%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GLW. UBS Group raised Corning from a "neutral" rating to a "buy" rating and upped their target price for the company from $65.00 to $84.00 in a research note on Tuesday. Wall Street Zen raised Corning from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Argus reissued a "buy" rating and set a $68.00 price target on shares of Corning in a research note on Wednesday, July 30th. JPMorgan Chase & Co. increased their price target on Corning from $62.00 to $65.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Finally, Citigroup increased their price target on Corning from $52.00 to $60.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $66.75.

Insider Transactions at Corning

In related news, CEO Wendell P. Weeks sold 82,103 shares of the stock in a transaction 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 completion of the sale, the chief executive officer directly owned 809,295 shares in the company, valued at approximately $52,757,941.05. This represents a 9.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Avery H. Nelson III sold 36,240 shares of the stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $62.26, for a total value of $2,256,302.40. Following the completion of the sale, the chief operating officer owned 64,838 shares of the company's stock, valued at approximately $4,036,813.88. This represents a 35.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 163,950 shares of company stock worth $10,449,192 in the last quarter. 0.32% of the stock is owned by corporate 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.