Vident Advisory LLC Has $2.97 Million Stake in Corning Incorporated $GLW

Key Points

• Vident Advisory LLC increased its stake in Corning Incorporated by 295.5% in Q1, owning 64,780 shares worth approximately $2.97 million at the time of filing.
• Corning's recent earnings report showed an EPS of $0.60, exceeding the consensus estimate of $0.57, while revenue reached $3.86 billion, slightly above expectations.
• The company declared a quarterly dividend of $0.28 per share, resulting in an annualized dividend yield of 1.7%, with a dividend payout ratio of 119.15%.

Vident Advisory LLC grew its position in Corning Incorporated (NYSE:GLW - Free Report) by 295.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,780 shares of the electronics maker's stock after buying an additional 48,400 shares during the quarter. Vident Advisory LLC's holdings in Corning were worth $2,966,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in GLW. Magnetar Financial LLC boosted its position in shares of Corning by 255.8% during the 1st quarter. Magnetar Financial LLC now owns 16,949 shares of the electronics maker's stock worth $776,000 after acquiring an additional 12,185 shares in the last quarter. Canada Pension Plan Investment Board raised its position in Corning by 33.4% during the first quarter. Canada Pension Plan Investment Board now owns 395,743 shares of the electronics maker's stock valued at $18,117,000 after purchasing an additional 99,066 shares in the last quarter. State of Wyoming lifted its stake in Corning by 41.0% during the first quarter. State of Wyoming now owns 11,581 shares of the electronics maker's stock worth $530,000 after purchasing an additional 3,368 shares during the last quarter. Trexquant Investment LP boosted its holdings in shares of Corning by 2.8% in the 1st quarter. Trexquant Investment LP now owns 623,667 shares of the electronics maker's stock valued at $28,551,000 after purchasing an additional 17,232 shares in the last quarter. Finally, Landscape Capital Management L.L.C. bought a new position in shares of Corning in the 1st quarter valued at $352,000. Institutional investors own 69.80% of the company's stock.

Corning Stock Performance

Shares of GLW stock opened at $67.03 on Monday. The business's 50-day moving average price is $58.86 and its 200-day moving average price is $51.09. Corning Incorporated has a 12 month low of $37.31 and a 12 month high of $69.29. The firm has a market capitalization of $57.42 billion, a price-to-earnings ratio of 71.31, a PEG ratio of 1.50 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 (NYSE:GLW - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. The company had revenue of $3.86 billion during 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 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. Equities research analysts forecast that Corning Incorporated will post 2.33 EPS for the current year.

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.12 annualized dividend and a dividend yield of 1.7%. Corning's dividend payout ratio (DPR) is presently 119.15%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GLW. Wall Street Zen raised Corning from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 2nd. Barclays lifted their target price on Corning from $52.00 to $65.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 30th. UBS Group increased their target price on shares of Corning from $57.00 to $65.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Morgan Stanley set a $56.00 price target on shares of Corning and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Finally, Argus reaffirmed a "buy" rating and set a $68.00 price target on shares of Corning in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $65.17.

Insider Activity at Corning

In other Corning news, EVP Lewis A. Steverson sold 16,646 shares of Corning stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $62.22, for a total transaction of $1,035,714.12. Following the transaction, the executive vice president directly owned 39,759 shares of the company's stock, valued at approximately $2,473,804.98. The trade was a 29.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Edward A. Schlesinger sold 14,082 shares of the stock in a transaction dated 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 directly owned 78,316 shares of the company's stock, valued at approximately $4,877,520.48. The trade was a 15.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 163,950 shares of company stock valued at $10,449,192 in the last quarter. Insiders own 0.32% of the company's stock.

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.

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