Stonehage Fleming Financial Services Holdings Ltd Purchases New Stake in Corning Incorporated $GLW

Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Corning Incorporated (NYSE:GLW) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 10,230 shares of the electronics maker’s stock, valued at approximately $538,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. REAP Financial Group LLC boosted its holdings in Corning by 191.5% during the second quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock worth $27,000 after buying an additional 339 shares during the last quarter. Investment Management Corp VA ADV boosted its holdings in Corning by 165.9% during the first quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker’s stock worth $34,000 after buying an additional 463 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in 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 buying an additional 353 shares during the last quarter. Banque Transatlantique SA bought a new position in Corning during the first quarter worth about $34,000. Finally, Resources Management Corp CT ADV raised its position in shares of Corning by 66.7% during the first quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 300 shares during the period. Institutional investors own 69.80% of the company’s stock.

Corning Stock Down 4.8%

GLW stock opened at $83.00 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.50 and a debt-to-equity ratio of 0.58. Corning Incorporated has a twelve month low of $37.31 and a twelve month high of $87.78. The business has a 50 day moving average price of $73.19 and a two-hundred day moving average price of $57.25. The company has a market cap of $71.10 billion, a price-to-earnings ratio of 88.30, a P/E/G ratio of 1.85 and a beta of 1.14.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. Corning had a return on equity of 17.27% and a net margin of 5.77%.The company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.84 billion. During the same period in the previous year, the company posted $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Analysts anticipate that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 14th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.12 annualized dividend and a yield of 1.3%. Corning’s payout ratio is currently 119.15%.

Analyst Ratings Changes

A number of research firms have recently commented on GLW. Oppenheimer reaffirmed an “outperform” rating and set a $72.00 price target (up previously from $55.00) on shares of Corning in a research report on Wednesday, July 30th. Citigroup raised their price target on Corning from $72.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Barclays raised their price target on Corning from $52.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 30th. Wolfe Research began coverage on Corning in a research report on Tuesday, July 8th. They set an “outperform” rating on the stock. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Corning in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

Insider Transactions at Corning

In related news, SVP Jaymin Amin sold 17,721 shares of the company’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $77.18, for a total transaction of $1,367,706.78. Following the completion of the sale, the senior vice president directly owned 88,722 shares in the company, valued at $6,847,563.96. This represents a 16.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Avery H. Nelson III sold 36,240 shares of the company’s stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $62.26, for a total value of $2,256,302.40. Following the sale, the chief operating officer owned 64,838 shares of the company’s stock, valued at approximately $4,036,813.88. This represents a 35.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 181,671 shares of company stock worth $11,816,899. Corporate insiders own 0.40% 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.