PFG Investments LLC Acquires 29,365 Shares of Corning Incorporated $GLW

PFG Investments LLC boosted its holdings in Corning Incorporated (NYSE:GLW) by 49.6% during the third quarter, Holdings Channel.com reports. The fund owned 88,528 shares of the electronics maker’s stock after buying an additional 29,365 shares during the quarter. PFG Investments LLC’s holdings in Corning were worth $7,262,000 at the end of the most recent reporting period.

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

Insider Activity

In other Corning news, SVP Stefan Becker sold 12,100 shares of the company’s stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $91.28, for a total transaction of $1,104,488.00. Following the completion of the transaction, the senior vice president owned 5,049 shares of the company’s stock, valued at $460,872.72. This represents a 70.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Edward A. Schlesinger sold 20,893 shares of the stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $91.25, for a total value of $1,906,486.25. Following the completion of the sale, the chief financial officer owned 66,959 shares of the company’s stock, valued at approximately $6,110,008.75. This trade represents a 23.78% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 156,135 shares of company stock valued at $14,088,769. 0.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

GLW has been the subject of a number of research analyst reports. UBS Group reaffirmed a “buy” rating and set a $109.00 price objective (up from $100.00) on shares of Corning in a report on Friday, November 21st. Weiss Ratings restated a “buy (b-)” rating on shares of Corning in a research report on Monday, December 29th. Argus upped their price objective on Corning from $68.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Oppenheimer set a $100.00 price objective on Corning and gave the company an “outperform” rating in a report on Wednesday, October 29th. Finally, Wall Street Zen upgraded Corning from a “hold” rating to a “buy” rating in a research report on Friday. One 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 company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $93.36.

Corning Stock Performance

NYSE:GLW opened at $93.37 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.56. Corning Incorporated has a fifty-two week low of $37.31 and a fifty-two week high of $96.64. The firm has a market cap of $80.05 billion, a PE ratio of 59.09, a price-to-earnings-growth ratio of 1.65 and a beta of 1.13. The business has a 50 day moving average price of $87.63 and a 200-day moving average price of $78.22.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, October 28th. The electronics maker reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. The company had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.24 billion. Corning had a net margin of 9.16% and a return on equity of 18.12%. The firm’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.54 earnings per share. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. Equities research analysts predict that Corning Incorporated will post 2.33 earnings per share for the current year.

About Corning

Corning Incorporated is a global manufacturer specializing in specialty glass, ceramics and related materials and technologies. Headquartered in Corning, New York, the company supplies engineered materials and components used across multiple industries, including consumer electronics, telecommunications, automotive emissions control, pharmaceutical and life sciences, and industrial and scientific applications. Corning emphasizes materials science and precision manufacturing to develop durable, high-performance glass and ceramic products.

Key product lines include specialty display glass used by television and mobile-device manufacturers, cover glass marketed under well-known trade names for smartphones and tablets, and optical fiber and cable and related hardware for telecommunications networks.