Vestmark Advisory Solutions Inc. Grows Stock Position in Corning Incorporated $GLW

Key Points

• Vestmark Advisory Solutions Inc. increased its position in Corning Incorporated by 591.0%, acquiring an additional 114,330 shares, making the total holdings worth approximately $6.12 million as of the latest SEC filing.
• Corning announced a quarterly dividend of $0.28 per share, reflecting an annualized dividend of $1.12 and a yield of 1.7%, with a payout ratio of 119.15%.
• Corning reported an EPS of $0.60 for the last quarter, surpassing analyst estimates, with a revenue of $3.86 billion, compared to the forecast of $3.84 billion.

Vestmark Advisory Solutions Inc. boosted its holdings in Corning Incorporated (NYSE:GLW - Free Report) by 591.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 133,676 shares of the electronics maker's stock after acquiring an additional 114,330 shares during the period. Vestmark Advisory Solutions Inc.'s holdings in Corning were worth $6,120,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Vermillion Wealth Management Inc. acquired a new stake in shares of Corning in the 4th quarter valued at $29,000. Putney Financial Group LLC acquired a new position in Corning in the 4th quarter valued at about $30,000. Investment Management Corp VA ADV increased its holdings in shares of Corning by 165.9% in the first 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 increased its stake in shares of Corning by 90.1% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker's stock worth $34,000 after acquiring an additional 353 shares during the period. Finally, Headlands Technologies LLC acquired a new position in Corning during the first quarter worth $38,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Stock Performance

Corning stock traded down $0.9920 during trading hours on Tuesday, reaching $64.5280. 2,584,728 shares of the company were exchanged, compared to its average volume of 5,619,242. 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 stock has a 50-day moving average of $55.99 and a 200 day moving average of $50.22. The firm has a market cap of $55.28 billion, a price-to-earnings ratio of 68.73, a PEG ratio of 1.47 and a beta of 1.08. Corning Incorporated has a 12 month low of $37.31 and a 12 month high of $66.50.

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, beating analysts' consensus estimates of $0.57 by $0.03. The firm had revenue of $3.86 billion during 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 earned $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. As a group, research analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, August 29th. Corning's payout ratio is presently 119.15%.

Insider Activity at Corning

In related news, SVP Michael Paul O'day sold 14,879 shares of the business's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $62.36, for a total transaction of $927,854.44. Following the transaction, the senior vice president directly owned 35,743 shares in the company, valued at approximately $2,228,933.48. The trade was a 29.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Stefan Becker sold 17,106 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $49.68, for a total value of $849,826.08. Following the completion of the transaction, the senior vice president owned 16,117 shares in the company, valued at approximately $800,692.56. The trade was a 51.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold 211,484 shares of company stock worth $12,813,804 over the last ninety days. Company insiders own 0.40% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on GLW shares. Mizuho increased their price target on shares of Corning from $63.00 to $74.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Wolfe Research started coverage on shares of Corning in a report on Tuesday, July 8th. They set an "outperform" rating on the stock. Wall Street Zen raised shares of Corning from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 2nd. Citigroup upped their target price on Corning from $52.00 to $60.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Finally, Argus reiterated a "buy" rating and set a $68.00 price objective on shares of Corning in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $65.17.

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.