Northstar Group Inc. Makes New $319,000 Investment in Corning Incorporated $GLW

Key Points

• Northstar Group Inc. has made a new investment of approximately $319,000 in Corning Incorporated, acquiring 6,056 shares of the electronics maker's stock in the second quarter.
• Corning reported better-than-expected quarterly earnings, with an earnings per share (EPS) of $0.60, surpassing analysts' consensus estimate of $0.57.
• Several institutional investors, including Investment Management Corp VA ADV and Annis Gardner Whiting Capital Advisors LLC, have significantly increased their stakes in Corning, indicating strong interest in the company's stock.

Northstar Group Inc. acquired a new position in Corning Incorporated (NYSE:GLW - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,056 shares of the electronics maker's stock, valued at approximately $319,000.

Several other large investors have also recently bought and sold shares of the business. Investment Management Corp VA ADV increased its position in shares of 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 in the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its position in shares of 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 in the last quarter. Resources Management Corp CT ADV increased its position 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 valued at $34,000 after buying an additional 300 shares in the last quarter. Gen Wealth Partners Inc increased its position in shares of Corning by 151.7% in the first quarter. Gen Wealth Partners Inc now owns 755 shares of the electronics maker's stock valued at $35,000 after buying an additional 455 shares in the last quarter. Finally, Banque Transatlantique SA purchased a new position in shares of Corning in the first quarter valued at $34,000. Hedge funds and other institutional investors own 69.80% of the company's stock.

Corning Stock Up 1.3%

GLW opened at $83.10 on Thursday. 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 market cap of $71.18 billion, a P/E ratio of 88.40, a PEG ratio of 1.83 and a beta of 1.14. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $83.75. The business's fifty day simple moving average is $69.64 and its 200 day simple moving average is $55.42.

Corning (NYSE:GLW - Get Free Report) last issued 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 return on equity of 17.27% and a net margin of 5.77%.The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.84 billion. During the same period last year, the company earned $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. As a group, equities research analysts anticipate that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Insider Transactions at Corning

In other Corning news, EVP Lewis A. Steverson sold 16,646 shares of the firm's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $62.22, for a total value of $1,035,714.12. Following the sale, the executive vice president directly owned 39,759 shares of the company's stock, valued at approximately $2,473,804.98. This trade represents a 29.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael Paul O'day sold 14,879 shares of the firm's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $62.36, for a total value of $927,854.44. Following the completion of the sale, the senior vice president directly owned 35,743 shares in the company, valued at approximately $2,228,933.48. The trade was a 29.39% 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 quarter. 0.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Susquehanna restated a "positive" rating and issued a $75.00 price target (up previously from $60.00) on shares of Corning in a research report on Wednesday, July 30th. Argus restated a "buy" rating and issued a $68.00 price target on shares of Corning in a research report on Wednesday, July 30th. UBS Group raised their price target on Corning from $84.00 to $91.00 and gave the company a "buy" rating in a research report on Tuesday, September 23rd. Morgan Stanley set a $56.00 price objective on Corning and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $72.00 price objective (up previously from $55.00) on shares of Corning in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Corning has a consensus rating of "Moderate Buy" and a consensus price target of $70.08.

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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