Vanguard Personalized Indexing Management LLC Acquires 32,170 Shares of Corning Incorporated $GLW

Key Points

• Vanguard Personalized Indexing Management LLC increased its stake in Corning Incorporated by 32.0%, acquiring an additional 32,170 shares, bringing its total holdings to 132,743 shares valued at approximately $6.98 million.
• Corning recently reported earnings of $0.60 per share, surpassing analysts' estimates, and has set a third-quarter EPS guidance between 0.630 and 0.670.
• A range of analysts have upgraded Corning's ratings, with target prices now seen between $72.00 and $91.00, indicating strong investor confidence in the company's performance.

Vanguard Personalized Indexing Management LLC raised its holdings in Corning Incorporated (NYSE:GLW - Free Report) by 32.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 132,743 shares of the electronics maker's stock after buying an additional 32,170 shares during the period. Vanguard Personalized Indexing Management LLC's holdings in Corning were worth $6,982,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Davis Investment Partners LLC bought a new stake in Corning in the second quarter valued at approximately $251,000. Central Pacific Bank Trust Division raised its stake in Corning by 23.6% in the second quarter. Central Pacific Bank Trust Division now owns 72,982 shares of the electronics maker's stock valued at $3,838,000 after buying an additional 13,920 shares during the period. Strs Ohio bought a new position in shares of Corning during the first quarter worth approximately $27,219,000. Acadian Asset Management LLC increased its stake in shares of Corning by 4,346.5% during the first quarter. Acadian Asset Management LLC now owns 153,984 shares of the electronics maker's stock worth $7,048,000 after purchasing an additional 150,521 shares during the period. Finally, Intech Investment Management LLC increased its stake in shares of Corning by 507.6% during the first quarter. Intech Investment Management LLC now owns 211,124 shares of the electronics maker's stock worth $9,665,000 after purchasing an additional 176,379 shares during the period. Institutional investors own 69.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Oppenheimer reiterated an "outperform" rating and set a $72.00 target price (up previously from $55.00) on shares of Corning in a research note on Wednesday, July 30th. Mizuho increased their target price on Corning from $74.00 to $90.00 and gave the stock an "outperform" rating in a research note on Friday, October 3rd. Wolfe Research assumed coverage on Corning in a research note on Tuesday, July 8th. They set an "outperform" rating on the stock. JPMorgan Chase & Co. increased their target price on Corning from $62.00 to $65.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Finally, UBS Group increased their target price on Corning from $84.00 to $91.00 and gave the stock a "buy" rating in a research note on Tuesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $73.00.

Corning Trading Down 4.8%

Shares of GLW stock opened at $83.00 on Monday. The stock's fifty day moving average price is $73.19 and its two-hundred day moving average price is $57.32. The company has a market cap of $71.10 billion, a PE ratio of 88.30, a P/E/G ratio of 1.85 and a beta of 1.14. Corning Incorporated has a fifty-two week low of $37.31 and a fifty-two week high of $87.78. 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 issued its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share for the quarter, beating 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 return on equity of 17.27% and a net margin of 5.77%.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. Equities analysts predict that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 14th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend 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 119.15%.

Insider Activity at Corning

In related news, SVP Michael Paul O'day sold 14,879 shares of the firm's stock in a transaction on 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 of the company's stock, valued at $2,228,933.48. This trade represents a 29.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction, the chief executive officer directly 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 have 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 currently owned by company insiders.

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.

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