Seed Wealth Management Inc. Takes $205,000 Position in Corning Incorporated $GLW

Key Points

• Seed Wealth Management Inc. has acquired a new position in Corning Incorporated, purchasing approximately 3,900 shares valued at $205,000 during the 2nd quarter.
• Corning's stock saw a mix of insider selling, with COO Avery H. Nelson III and CEO Wendell P. Weeks each selling significant shares, reflecting a decrease in their positions.
• Several analysts have upgraded Corning's stock ratings and price targets recently, with Mizuho raising their target from $63.00 to $74.00 and Oppenheimer increasing theirs to $72.00.

Seed Wealth Management Inc. bought a new stake in Corning Incorporated (NYSE:GLW - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,900 shares of the electronics maker's stock, valued at approximately $205,000.

Several other institutional investors and hedge funds also recently made changes to their positions in GLW. Amundi grew its position in shares of Corning by 64.3% in the first 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 acquired a new position in shares of Corning in the first quarter valued at approximately $104,789,000. Kingstone Capital Partners Texas LLC acquired a new position in shares of Corning in the second quarter valued at approximately $92,560,000. Assenagon Asset Management S.A. grew its position in shares of Corning by 101.0% in the first 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 during the last quarter. Finally, SG Americas Securities LLC grew its position in shares of Corning by 3,441.4% in the first 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 during the last quarter. Institutional investors and hedge funds own 69.80% of the company's stock.

Insider Buying and Selling

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 stock was sold at an average price of $62.26, for a total value of $2,256,302.40. Following the completion of the sale, 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 sale 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 dated Thursday, August 7th. The shares were 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 of the company's stock, valued at approximately $52,757,941.05. This represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 181,671 shares of company stock worth $11,816,899 over the last 90 days. 0.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Mizuho increased their price target on Corning from $63.00 to $74.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Oppenheimer reissued an "outperform" rating and set a $72.00 price target (up previously from $55.00) on shares of Corning in a research report on Wednesday, July 30th. Wall Street Zen downgraded Corning from a "strong-buy" rating to a "hold" rating in a research report on Saturday, September 13th. Susquehanna reissued a "positive" rating and set a $75.00 price target (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 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 issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $66.75.

Corning Stock Performance

Shares of Corning stock opened at $79.57 on Monday. 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 business has a 50-day moving average price of $65.38 and a two-hundred day moving average price of $53.60. Corning Incorporated has a 1-year low of $37.31 and a 1-year high of $79.98. The company has a market cap of $68.16 billion, a P/E ratio of 84.65, a PEG ratio of 1.78 and a beta of 1.09.

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 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 during the quarter, compared to the consensus estimate of $3.84 billion. 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. As a group, analysts anticipate that Corning Incorporated will post 2.33 EPS for the current year.

Corning Announces Dividend

The company also recently announced 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. The ex-dividend date is Friday, August 29th. This represents a $1.12 annualized dividend and a dividend yield of 1.4%. Corning's dividend payout ratio (DPR) is currently 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.

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.