PUREfi Wealth LLC Takes Position in Corning Incorporated $GLW

Key Points

• PUREfi Wealth LLC acquired a new stake in Corning Incorporated (NYSE:GLW), purchasing 5,593 shares valued at approximately $294,000 in the 2nd quarter.
• Institutional investors, including Amundi and Nuveen LLC, have significantly increased their holdings in Corning, indicating strong interest with over 69.80% of the stock owned by hedge funds and other institutions.
• Corning's stock has a current market cap of $71.62 billion and analysts have a consensus price target of $71.42, reflecting growing confidence in the company's future performance.

PUREfi Wealth LLC bought a new stake in Corning Incorporated (NYSE:GLW - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 5,593 shares of the electronics maker's stock, valued at approximately $294,000.

Several other institutional investors and hedge funds have also made changes to their positions in GLW. Amundi lifted its holdings in shares of Corning by 64.3% in the 1st quarter. Amundi now owns 6,408,605 shares of the electronics maker's stock valued at $271,237,000 after purchasing an additional 2,507,797 shares during the last quarter. Nuveen LLC purchased a new stake in Corning during the 1st quarter valued at approximately $104,789,000. Kingstone Capital Partners Texas LLC purchased a new stake in Corning during the 2nd quarter valued at approximately $92,560,000. Assenagon Asset Management S.A. raised its stake in Corning by 101.0% during 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 acquiring an additional 1,483,151 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in Corning by 185.7% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,801,411 shares of the electronics maker's stock valued at $94,736,000 after acquiring an additional 1,170,992 shares during the last quarter. 69.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on GLW. Wolfe Research began coverage on Corning in a research note on Tuesday, July 8th. They set an "outperform" rating for the company. Wall Street Zen downgraded Corning from a "strong-buy" rating to a "hold" rating in a research note on Saturday, September 13th. Oppenheimer reaffirmed an "outperform" rating and set a $72.00 price objective (up from $55.00) on shares of Corning in a research note on Wednesday, July 30th. Argus reaffirmed a "buy" rating and set a $68.00 price objective on shares of Corning in a research note on Wednesday, July 30th. Finally, Barclays increased their target price on Corning from $52.00 to $65.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $71.42.

Corning Stock Performance

Shares of GLW stock opened at $83.60 on Monday. The company has a market cap of $71.62 billion, a price-to-earnings ratio of 88.94, a price-to-earnings-growth ratio of 1.86 and a beta of 1.14. The company has a current ratio of 1.50, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. The stock has a 50 day simple moving average of $70.74 and a 200-day simple moving average of $56.02. Corning Incorporated has a 12-month low of $37.31 and a 12-month high of $84.35.

Corning (NYSE:GLW - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.03. The business had revenue of $3.86 billion for the quarter, compared to analysts' expectations of $3.84 billion. Corning had a return on equity of 17.27% and a net margin of 5.77%.During the same quarter 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, equities analysts forecast that Corning Incorporated will post 2.33 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Michael Paul O'day sold 14,879 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $62.36, for a total value of $927,854.44. Following the sale, the senior vice president owned 35,743 shares in the company, valued at $2,228,933.48. This represents a 29.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Wendell P. Weeks sold 82,103 shares of the company'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 completion of the sale, the chief executive officer owned 809,295 shares in the company, valued at approximately $52,757,941.05. This represents a 9.21% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 181,671 shares of company stock worth $11,816,899. 0.32% of the stock is owned by insiders.

Corning Company 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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