Boothbay Fund Management LLC Boosts Stake in Corning Incorporated $GLW

Boothbay Fund Management LLC grew its holdings in Corning Incorporated (NYSE:GLW) by 28.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 236,269 shares of the electronics maker’s stock after purchasing an additional 52,722 shares during the period. Boothbay Fund Management LLC’s holdings in Corning were worth $12,425,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GLW. Vanguard Group Inc. lifted its position in Corning by 1.6% in the second quarter. Vanguard Group Inc. now owns 97,952,109 shares of the electronics maker’s stock valued at $5,151,301,000 after buying an additional 1,582,895 shares during the last quarter. State Street Corp raised its stake in shares of Corning by 1.4% in the 2nd quarter. State Street Corp now owns 36,568,973 shares of the electronics maker’s stock valued at $1,923,162,000 after acquiring an additional 509,013 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Corning by 0.6% in the 2nd quarter. Geode Capital Management LLC now owns 19,443,525 shares of the electronics maker’s stock worth $1,018,629,000 after acquiring an additional 112,739 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Corning by 8.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock worth $724,432,000 after purchasing an additional 1,036,988 shares during the period. Finally, Norges Bank acquired a new stake in Corning in the 2nd quarter valued at approximately $534,936,000. 69.80% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the company. UBS Group restated a “buy” rating and set a $109.00 price target (up from $100.00) on shares of Corning in a research note on Friday, November 21st. Mizuho set a $97.00 target price on Corning in a research note on Wednesday, October 29th. Susquehanna raised their target price on Corning from $75.00 to $100.00 and gave the company a “positive” rating in a report on Wednesday, October 29th. Argus boosted their price target on shares of Corning from $68.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Finally, Morgan Stanley set a $82.00 price target on shares of Corning in a research report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Corning presently has an average rating of “Moderate Buy” and a consensus target price of $91.64.

Corning Trading Down 8.0%

GLW opened at $88.34 on Friday. The business has a fifty day moving average price of $85.80 and a 200 day moving average price of $70.21. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.56 and a quick ratio of 1.00. Corning Incorporated has a 12 month low of $37.31 and a 12 month high of $96.64. The stock has a market capitalization of $75.74 billion, a price-to-earnings ratio of 55.91, a PEG ratio of 2.10 and a beta of 1.11.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. Corning had a return on equity of 18.12% and a net margin of 9.16%.The company had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter last year, the company earned $0.54 EPS. Corning’s revenue for the quarter was up 20.9% compared to the same quarter last year. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. Sell-side analysts expect that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Friday, November 14th were paid a $0.28 dividend. The ex-dividend date was Friday, November 14th. This represents a $1.12 dividend on an annualized basis and a yield of 1.3%. Corning’s payout ratio is currently 70.89%.

Insider Activity at Corning

In other Corning news, EVP Lewis A. Steverson sold 23,142 shares of the stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $89.05, for a total value of $2,060,795.10. Following the sale, the executive vice president directly owned 17,575 shares of the company’s stock, valued at approximately $1,565,053.75. This represents a 56.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Jaymin Amin sold 17,721 shares of the firm’s stock in a transaction on Wednesday, September 17th. The shares were 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 owned 88,722 shares in the company, valued at $6,847,563.96. The trade was a 16.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 173,856 shares of company stock worth $15,456,476 over the last ninety days. 0.40% of the stock is currently owned by insiders.

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.