Sagespring Wealth Partners LLC Has $799,000 Stock Position in Corning Incorporated $GLW

Sagespring Wealth Partners LLC raised its position in Corning Incorporated (NYSE:GLW - Free Report) by 33.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 15,202 shares of the electronics maker's stock after purchasing an additional 3,835 shares during the period. Sagespring Wealth Partners LLC's holdings in Corning were worth $799,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. REAP Financial Group LLC lifted its holdings in Corning by 191.5% in the second quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker's stock valued at $27,000 after buying an additional 339 shares during the period. Investment Management Corp VA ADV lifted its stake 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 valued at $34,000 after purchasing an additional 463 shares during the period. Annis Gardner Whiting Capital Advisors LLC lifted its stake 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 valued at $34,000 after purchasing an additional 353 shares during the period. Banque Transatlantique SA acquired a new position in shares of Corning in the 1st quarter valued at about $34,000. Finally, Resources Management Corp CT ADV lifted its stake in 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 during the period. Institutional investors and hedge funds own 69.80% of the company's stock.

Corning Trading Up 2.5%

NYSE GLW opened at $86.76 on Thursday. The business has a fifty day simple moving average of $74.52 and a 200 day simple moving average of $57.99. The firm has a market capitalization of $74.32 billion, a P/E ratio of 92.30, a PEG ratio of 1.89 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. Corning Incorporated has a 12 month low of $37.31 and a 12 month high of $87.78.

Corning (NYSE:GLW - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, beating 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 last year, the business posted $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. On average, analysts predict that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 14th will be paid a $0.28 dividend. The ex-dividend date is Friday, November 14th. This represents a $1.12 annualized dividend and a dividend yield of 1.3%. Corning's dividend payout ratio (DPR) is presently 119.15%.

Insider Transactions at Corning

In other Corning news, SVP Michael Paul O'day sold 14,879 shares of Corning stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $62.36, for a total transaction of $927,854.44. Following the completion of the transaction, the senior vice president owned 35,743 shares of the company's stock, valued at $2,228,933.48. The trade was a 29.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Lewis A. Steverson sold 16,646 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $62.22, for a total transaction 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. This represents a 29.51% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 181,671 shares of company stock valued at $11,816,899. 0.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GLW shares. Wolfe Research started coverage on shares of Corning in a research report on Tuesday, July 8th. They set an "outperform" rating on the stock. Barclays upped their price target on Corning from $52.00 to $65.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. JPMorgan Chase & Co. upped their target price on Corning from $62.00 to $65.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Oppenheimer restated an "outperform" rating and set a $72.00 price objective (up previously from $55.00) on shares of Corning in a report on Wednesday, July 30th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Corning in a report on Wednesday, October 8th. One research 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 MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $73.00.

About Corning

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.

Want to see what other hedge funds are holding GLW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corning Incorporated (NYSE:GLW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.