41,687 Shares in Corning Incorporated $GLW Bought by Sepio Capital LP

Sepio Capital LP bought a new position in Corning Incorporated (NYSE:GLW) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 41,687 shares of the electronics maker’s stock, valued at approximately $1,908,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Leigh Baldwin & CO. LLC boosted its position in Corning by 1.7% during the first quarter. Leigh Baldwin & CO. LLC now owns 12,513 shares of the electronics maker’s stock valued at $573,000 after buying an additional 210 shares during the period. University of Texas Texas AM Investment Management Co. boosted its position in Corning by 9.7% during the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 2,422 shares of the electronics maker’s stock valued at $115,000 after buying an additional 214 shares during the period. Harbour Investments Inc. boosted its position in Corning by 2.4% during the first quarter. Harbour Investments Inc. now owns 9,489 shares of the electronics maker’s stock valued at $434,000 after buying an additional 224 shares during the period. Old North State Wealth Management LLC boosted its position in Corning by 0.6% during the first quarter. Old North State Wealth Management LLC now owns 40,107 shares of the electronics maker’s stock valued at $1,836,000 after buying an additional 239 shares during the period. Finally, Plancorp LLC boosted its position in Corning by 2.7% during the first quarter. Plancorp LLC now owns 9,191 shares of the electronics maker’s stock valued at $421,000 after buying an additional 241 shares during the period. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Corning Price Performance

Shares of NYSE GLW opened at $71.11 on Friday. Corning Incorporated has a fifty-two week low of $37.31 and a fifty-two week high of $71.40. The company has a 50 day simple moving average of $60.60 and a two-hundred day simple moving average of $51.67. The company has a market capitalization of $60.91 billion, a price-to-earnings ratio of 75.65, a P/E/G ratio of 1.59 and a beta of 1.09. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.50.

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

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be issued a $0.28 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.12 annualized dividend and a yield of 1.6%. Corning’s dividend payout ratio (DPR) is currently 119.15%.

Analysts Set New Price Targets

Several brokerages have recently commented on GLW. Barclays upped their price objective on shares of Corning from $52.00 to $65.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 30th. Morgan Stanley set a $56.00 price objective on shares of Corning and gave the stock an “equal weight” rating in a report on Wednesday, July 30th. Citigroup raised their price objective on shares of Corning from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Wall Street Zen upgraded shares of Corning from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 2nd. Finally, Mizuho raised their price objective on shares of Corning from $63.00 to $74.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $66.75.

Insider Buying and Selling at Corning

In other news, EVP Lewis A. Steverson sold 16,646 shares of Corning stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $62.22, for a total transaction of $1,035,714.12. Following the transaction, the executive vice president owned 39,759 shares in the company, valued at $2,473,804.98. This trade represents a 29.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Michael Paul O’day sold 14,879 shares of the firm’s stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $62.36, for a total transaction of $927,854.44. Following the sale, the senior vice president owned 35,743 shares in the company, valued at $2,228,933.48. The trade was a 29.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 163,950 shares of company stock worth $10,449,192. 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.