Mutual Advisors LLC Buys 1,711 Shares of Corning Incorporated $GLW

Mutual Advisors LLC raised its stake in shares of Corning Incorporated (NYSE:GLW) by 33.3% in the second quarter, Holdings Channel reports. The fund owned 6,848 shares of the electronics maker’s stock after acquiring an additional 1,711 shares during the period. Mutual Advisors LLC’s holdings in Corning were worth $379,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GLW. Amundi increased its stake in shares of Corning by 64.3% in the first quarter. Amundi now owns 6,408,605 shares of the electronics maker’s stock valued at $271,237,000 after buying an additional 2,507,797 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Corning in the first quarter valued at $104,789,000. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Corning in the second quarter valued at $92,560,000. Robeco Institutional Asset Management B.V. increased its stake in shares of Corning by 185.7% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,801,411 shares of the electronics maker’s stock valued at $94,736,000 after buying an additional 1,170,992 shares in the last quarter. Finally, Deutsche Bank AG increased its stake in shares of Corning by 37.1% in the first quarter. Deutsche Bank AG now owns 3,835,799 shares of the electronics maker’s stock valued at $175,603,000 after buying an additional 1,037,875 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Price Performance

Shares of GLW stock opened at $85.31 on Tuesday. The stock has a 50-day moving average price of $75.74 and a 200 day moving average price of $59.06. 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 cap of $73.08 billion, a price-to-earnings ratio of 90.75, a PEG ratio of 1.89 and a beta of 1.14. Corning Incorporated has a 12 month low of $37.31 and a 12 month high of $87.78.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $3.84 billion. During the same quarter last year, the business 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 Announces Dividend

The business also recently announced 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. The ex-dividend date is Friday, November 14th. This represents a $1.12 dividend on an annualized basis and a yield of 1.3%. Corning’s dividend payout ratio (DPR) is 119.15%.

Insider Activity

In other Corning news, SVP Michael Paul O’day sold 14,879 shares of the firm’s stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $62.36, for a total transaction of $927,854.44. Following the transaction, the senior vice president owned 35,743 shares in the company, valued at approximately $2,228,933.48. This trade represents a 29.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Avery H. Nelson III sold 36,240 shares of the firm’s stock in a transaction dated 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 transaction, the chief operating officer owned 64,838 shares in the company, valued at approximately $4,036,813.88. This trade represents a 35.85% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 181,671 shares of company stock valued at $11,816,899. Insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

GLW has been the subject of a number of research reports. Oppenheimer restated an “outperform” rating and issued a $72.00 target price (up from $55.00) on shares of Corning in a research note on Wednesday, July 30th. Wall Street Zen lowered Corning from a “strong-buy” rating to a “hold” rating in a research note on Saturday, September 13th. Mizuho raised their target price on Corning from $74.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, October 3rd. 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 report on Friday, October 10th. Finally, Barclays lifted their price objective on Corning from $52.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $73.00.

Corning Company 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.