S.E.E.D. Planning Group LLC Purchases Shares of 4,054 Corning Incorporated $GLW

Key Points

• S.E.E.D. Planning Group LLC has purchased 4,054 shares of Corning Incorporated, valued at approximately $213,000, marking a new stake in the company according to their latest SEC filing.
• Corning has announced a quarterly dividend of $0.28 per share, to be paid on September 29th, with an annualized yield of 1.5% and a current payout ratio of 119.15%.
• Recent analyst reports reflect mixed sentiments, with one firm downgrading Corning's rating while others maintain buy recommendations, resulting in a consensus price target of $66.75.

S.E.E.D. Planning Group LLC purchased a new stake in shares of Corning Incorporated (NYSE:GLW - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 4,054 shares of the electronics maker's stock, valued at approximately $213,000.

A number of other hedge funds have also bought and sold shares of GLW. Amundi increased its stake in Corning by 64.3% during 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 in the last quarter. Nuveen LLC acquired a new position in Corning during the 1st quarter valued at approximately $104,789,000. Assenagon Asset Management S.A. increased 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 purchasing an additional 1,483,151 shares in the last quarter. SG Americas Securities LLC increased its stake in Corning by 3,441.4% during 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 purchasing an additional 1,156,746 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in shares of 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 acquiring an additional 1,037,875 shares during the last quarter. Institutional investors and hedge funds own 69.80% of the company's stock.

Corning Stock Performance

Shares of NYSE GLW opened at $77.03 on Monday. The company's fifty day moving average price is $62.75 and its 200 day moving average price is $52.52. Corning Incorporated has a 1 year low of $37.31 and a 1 year high of $77.87. The company has a market capitalization of $65.99 billion, a PE ratio of 81.95, a price-to-earnings-growth ratio of 1.73 and a beta of 1.09. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.50.

Corning (NYSE:GLW - Get Free Report) last announced 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. The firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.84 billion. Corning had a net margin of 5.77% and a return on equity of 17.27%. During the same period in the prior year, the firm posted $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. On average, research analysts predict that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, August 29th. This represents a $1.12 dividend on an annualized basis and a yield of 1.5%. Corning's dividend payout ratio is currently 119.15%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on GLW shares. Wall Street Zen downgraded shares of Corning from a "strong-buy" rating to a "hold" rating in a report on Saturday. Oppenheimer reaffirmed an "outperform" rating and issued a $72.00 price objective (up from $55.00) on shares of Corning in a report on Wednesday, July 30th. Argus reaffirmed a "buy" rating and issued a $68.00 price objective on shares of Corning in a report on Wednesday, July 30th. Susquehanna reaffirmed a "positive" rating and issued a $75.00 price objective (up from $60.00) on shares of Corning in a report on Wednesday, July 30th. Finally, Wolfe Research initiated coverage on shares of Corning in a report on Tuesday, July 8th. They issued an "outperform" rating on the stock. One 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. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $66.75.

Insider Activity at Corning

In other news, COO Avery H. Nelson III sold 36,240 shares of the firm's stock in a transaction dated 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 transaction, the chief operating officer directly owned 64,838 shares of the company's stock, valued at approximately $4,036,813.88. This trade represents a 35.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 transaction of $927,854.44. Following the completion of the transaction, the senior vice president directly owned 35,743 shares in the company, valued at approximately $2,228,933.48. This represents a 29.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 163,950 shares of company stock valued at $10,449,192 in the last three months. Company insiders own 0.32% of the company's stock.

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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