PDS Planning Inc Buys 743 Shares of Corning Incorporated $GLW

PDS Planning Inc raised its stake in shares of Corning Incorporated (NYSE:GLW) by 10.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,582 shares of the electronics maker’s stock after buying an additional 743 shares during the period. PDS Planning Inc’s holdings in Corning were worth $399,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of GLW. Brighton Jones LLC raised its holdings in Corning by 46.0% during the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock valued at $319,000 after buying an additional 2,114 shares in the last quarter. Pallas Capital Advisors LLC bought a new position in shares of Corning in the first quarter worth about $286,000. GAMMA Investing LLC increased its stake in shares of Corning by 29.2% in the first quarter. GAMMA Investing LLC now owns 11,358 shares of the electronics maker’s stock worth $520,000 after purchasing an additional 2,567 shares during the period. Simon Quick Advisors LLC increased its stake in shares of Corning by 59.3% in the first quarter. Simon Quick Advisors LLC now owns 9,738 shares of the electronics maker’s stock worth $446,000 after purchasing an additional 3,625 shares during the period. Finally, NorthCrest Asset Manangement LLC increased its stake in shares of Corning by 1.7% in the first quarter. NorthCrest Asset Manangement LLC now owns 43,696 shares of the electronics maker’s stock worth $2,000,000 after purchasing an additional 745 shares during the period. 69.80% of the stock is currently owned by institutional investors.

Corning Trading Down 4.8%

Shares of GLW opened at $83.00 on Friday. Corning Incorporated has a 12-month low of $37.31 and a 12-month high of $87.78. The company has a quick ratio of 0.93, a current ratio of 1.50 and a debt-to-equity ratio of 0.58. The firm has a market capitalization 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. The stock’s 50-day moving average price is $73.19 and its 200 day moving average price is $57.25.

Corning (NYSE:GLW) last issued its quarterly earnings results 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. Corning had a return on equity of 17.27% and a net margin of 5.77%.The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.84 billion. During the same period in the previous year, the company posted $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. As a group, research analysts predict that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Announces Dividend

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 dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, November 14th. Corning’s payout ratio is presently 119.15%.

Analysts Set New Price Targets

GLW has been the topic of a number of recent analyst reports. Susquehanna reiterated a “positive” rating and issued a $75.00 price objective (up from $60.00) on shares of Corning in a research note on Wednesday, July 30th. UBS Group lifted their price objective on Corning from $84.00 to $91.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Morgan Stanley lifted their price objective on Corning from $56.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Corning in a research note on Wednesday. Finally, Citigroup lifted their price objective on Corning from $72.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. One investment 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Insider Activity at Corning

In other Corning news, COO Avery H. Nelson III sold 36,240 shares of Corning stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $62.26, for a total transaction of $2,256,302.40. Following the sale, the chief operating officer directly owned 64,838 shares of the company’s stock, valued at approximately $4,036,813.88. The trade was a 35.85% 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, CEO Wendell P. Weeks sold 82,103 shares of Corning stock in a transaction that occurred 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 in the company, valued at $52,757,941.05. The trade was a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 181,671 shares of company stock valued at $11,816,899. Corporate insiders own 0.40% of the company’s stock.

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.