Voya Investment Management LLC Increases Position in Corning Incorporated $GLW

Key Points

• Voya Investment Management LLC increased its stake in Corning Incorporated by 122.2% during the first quarter, owning 551,462 shares valued at approximately $25.2 million.
• Corning reported a quarterly earnings per share (EPS) of $0.60, exceeding analyst expectations, and set a Q3 2025 guidance of 0.630-0.670 EPS.
• The company declared a quarterly dividend of $0.28, with a payout ratio of 119.15%, representing an annualized yield of 1.5% for shareholders.

Voya Investment Management LLC raised its holdings in shares of Corning Incorporated (NYSE:GLW - Free Report) by 122.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 551,462 shares of the electronics maker's stock after buying an additional 303,247 shares during the period. Voya Investment Management LLC owned about 0.06% of Corning worth $25,246,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. First Hawaiian Bank boosted its position in shares of Corning by 8.9% during the first quarter. First Hawaiian Bank now owns 24,437 shares of the electronics maker's stock valued at $1,119,000 after buying an additional 1,991 shares during the period. Strs Ohio bought a new stake in shares of Corning during the first quarter valued at approximately $27,219,000. SWS Partners raised its stake in shares of Corning by 2.3% during the first quarter. SWS Partners now owns 55,462 shares of the electronics maker's stock valued at $2,539,000 after acquiring an additional 1,271 shares in the last quarter. Acadian Asset Management LLC raised 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 valued at $7,048,000 after acquiring an additional 150,521 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in shares of Corning by 4.7% during the first quarter. Geneos Wealth Management Inc. now owns 4,961 shares of the electronics maker's stock valued at $227,000 after acquiring an additional 224 shares in the last quarter. Hedge funds and other institutional investors own 69.80% of the company's stock.

Corning Price Performance

NYSE:GLW opened at $77.03 on Monday. Corning Incorporated has a one year low of $37.31 and a one year high of $77.87. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.50. The firm has a market cap of $65.99 billion, a price-to-earnings ratio of 81.95, a PEG ratio of 1.73 and a beta of 1.09. The firm's fifty day moving average is $62.75 and its two-hundred day moving average is $52.52.

Corning (NYSE:GLW - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. Corning had a net margin of 5.77% and a return on equity of 17.27%. The company 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 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Research analysts expect 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. Shareholders of record on Friday, August 29th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 29th. Corning's dividend payout ratio is presently 119.15%.

Insider Buying and Selling

In other Corning news, CEO Wendell P. Weeks sold 82,103 shares of the company's stock in a transaction on 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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Edward A. Schlesinger sold 14,082 shares of the company's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $62.28, for a total transaction of $877,026.96. Following the completion of the sale, the chief financial officer directly owned 78,316 shares in the company, valued at approximately $4,877,520.48. The trade was a 15.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 163,950 shares of company stock valued at $10,449,192 in the last 90 days. 0.32% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Argus reissued a "buy" rating and issued a $68.00 price objective on shares of Corning in a research note on Wednesday, July 30th. Oppenheimer reaffirmed an "outperform" rating and set a $72.00 price target (up from $55.00) on shares of Corning in a research report on Wednesday, July 30th. Morgan Stanley set a $56.00 price target on Corning and gave the stock an "equal weight" rating 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. Finally, Barclays boosted their price objective on shares of Corning from $52.00 to $65.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $66.75.

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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