Quantbot Technologies LP Buys New Shares in Corning Incorporated $GLW

Key Points

• Quantbot Technologies LP made a new investment in Corning Incorporated, acquiring 90,541 shares valued at approximately $4.15 million during the first quarter of the year.
• Corning's CFO sold over 14,000 shares for around $877,000, resulting in a 15.24% decrease in his ownership, while executives collectively sold 211,484 shares worth over $12.8 million in the last ninety days.
• Corning announced a quarterly dividend of $0.28 per share with a yield of 1.7%, and the company's dividend payout ratio currently stands at 119.15%.

Quantbot Technologies LP bought a new position in Corning Incorporated (NYSE:GLW - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 90,541 shares of the electronics maker's stock, valued at approximately $4,145,000.

Several other institutional investors have also recently made changes to their positions in GLW. Vermillion Wealth Management Inc. bought a new position in shares of Corning in the 4th quarter worth approximately $29,000. Putney Financial Group LLC bought a new position in shares of Corning in the 4th quarter worth approximately $30,000. Investment Management Corp VA ADV raised its position in shares of Corning by 165.9% in the 1st quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker's stock worth $34,000 after acquiring an additional 463 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its position in shares of Corning by 90.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker's stock worth $34,000 after acquiring an additional 353 shares in the last quarter. Finally, Gen Wealth Partners Inc raised its position in shares of Corning by 151.7% in the 1st quarter. Gen Wealth Partners Inc now owns 755 shares of the electronics maker's stock worth $35,000 after acquiring an additional 455 shares in the last quarter. Institutional investors own 69.80% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on GLW. Argus reaffirmed a "buy" rating and set a $68.00 price objective on shares of Corning in a research report on Wednesday, July 30th. JPMorgan Chase & Co. raised their price objective on Corning from $62.00 to $65.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Barclays raised their price objective on Corning from $52.00 to $65.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 30th. Susquehanna reaffirmed a "positive" rating and set a $75.00 price objective (up previously from $60.00) on shares of Corning in a research report on Wednesday, July 30th. Finally, Morgan Stanley set a $56.00 target price on Corning and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $65.17.

Insider Transactions at Corning

In other news, COO Avery H. Nelson III sold 36,240 shares of the firm's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $62.26, for a total value of $2,256,302.40. Following the transaction, the chief operating officer directly owned 64,838 shares in the company, valued at $4,036,813.88. This trade represents a 35.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Wendell P. Weeks sold 82,103 shares of the firm's 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 transaction, the chief executive officer owned 809,295 shares in the company, valued at approximately $52,757,941.05. This trade represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 211,484 shares of company stock worth $12,813,804. Company insiders own 0.40% of the company's stock.

Corning Stock Up 1.2%

GLW traded up $0.7950 during trading on Friday, hitting $65.6850. 3,435,071 shares of the company's stock traded hands, compared to its average volume of 5,973,847. The company's 50 day simple moving average is $57.16 and its two-hundred day simple moving average is $50.60. The company has a current ratio of 1.50, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. Corning Incorporated has a 12-month low of $37.31 and a 12-month high of $66.50. The stock has a market capitalization of $56.27 billion, a price-to-earnings ratio of 69.88, a PEG ratio of 1.45 and a beta of 1.08.

Corning (NYSE:GLW - Get Free Report) last issued its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. The business had revenue of $3.86 billion for 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 last year, the business posted $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Analysts predict that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, August 29th. Corning's dividend payout ratio (DPR) is 119.15%.

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.