Teza Capital Management LLC Takes Position in Corning Incorporated $GLW

Key Points

• Teza Capital Management LLC has acquired a new stake in Corning Incorporated (NYSE: GLW), purchasing 16,906 shares valued at approximately $774,000 during the first quarter.
• Corning recently reported earnings of $0.60 per share, exceeding analyst expectations, and has set a guidance of $0.630-0.670 EPS for Q3 2025.
• The company announced a quarterly dividend of $0.28 per share, with an upcoming ex-dividend date of August 29, representing a yield of 1.6%.

Teza Capital Management LLC bought a new stake in shares of Corning Incorporated (NYSE:GLW - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 16,906 shares of the electronics maker's stock, valued at approximately $774,000.

A number of other institutional investors also recently modified their holdings of GLW. UniSuper Management Pty Ltd lifted its stake in shares of Corning by 3.1% in the 1st quarter. UniSuper Management Pty Ltd now owns 72,320 shares of the electronics maker's stock valued at $3,311,000 after purchasing an additional 2,166 shares during the last quarter. Sepio Capital LP bought a new position in Corning in the 1st quarter worth $1,908,000. PharVision Advisers LLC raised its holdings in Corning by 48.0% in the 1st quarter. PharVision Advisers LLC now owns 10,793 shares of the electronics maker's stock worth $494,000 after acquiring an additional 3,500 shares during the period. Plancorp LLC raised its position in shares of Corning by 2.7% during the first quarter. Plancorp LLC now owns 9,191 shares of the electronics maker's stock valued at $421,000 after buying an additional 241 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV raised its position in shares of Corning by 1.2% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 105,905 shares of the electronics maker's stock valued at $4,848,000 after buying an additional 1,252 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, 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 sale, the chief executive officer directly 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Edward A. Schlesinger sold 14,082 shares of the firm's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $62.28, for a total value of $877,026.96. Following the completion of the sale, the chief financial officer owned 78,316 shares of the company's stock, valued at approximately $4,877,520.48. This trade represents a 15.24% 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 90 days. 0.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

GLW has been the subject of several research reports. Wolfe Research initiated coverage on shares of Corning in a research note on Tuesday, July 8th. They issued an "outperform" rating for the company. Susquehanna reiterated a "positive" rating and issued a $75.00 target price (up previously from $60.00) on shares of Corning in a research note on Wednesday, July 30th. UBS Group upgraded shares of Corning from a "neutral" rating to a "buy" rating and increased their target price for the company from $65.00 to $84.00 in a research note on Tuesday, September 2nd. Morgan Stanley set a $56.00 target price on shares of Corning and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Finally, Barclays increased their target price on shares of Corning from $52.00 to $65.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $66.75.

Corning Price Performance

NYSE GLW traded up $1.18 on Friday, reaching $76.65. The company's stock had a trading volume of 9,980,060 shares, compared to its average volume of 5,919,024. The firm has a market cap of $65.66 billion, a PE ratio of 81.53, a price-to-earnings-growth ratio of 1.68 and a beta of 1.09. 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 52 week low of $37.31 and a 52 week high of $77.87. The business has a 50-day moving average price of $62.28 and a 200 day moving average price of $52.29.

Corning (NYSE:GLW - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The electronics maker reported $0.60 EPS 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 business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.84 billion. During the same period in the prior year, the company earned $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Sell-side analysts expect that Corning Incorporated will post 2.33 EPS for the current year.

Corning Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 1.5%. 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.