Corning Incorporated $GLW Shares Acquired by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC increased its holdings in Corning Incorporated (NYSE:GLW) by 3.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 11,096 shares of the electronics maker’s stock after acquiring an additional 376 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Corning were worth $584,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. REAP Financial Group LLC lifted its stake in shares of Corning by 191.5% in the second quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock worth $27,000 after acquiring an additional 339 shares in the last quarter. Investment Management Corp VA ADV lifted its stake in shares of Corning by 165.9% in the first quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker’s stock worth $34,000 after acquiring an additional 463 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its stake in shares of Corning by 90.1% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker’s stock worth $34,000 after acquiring an additional 353 shares in the last quarter. Resources Management Corp CT ADV increased its holdings in Corning by 66.7% in the first quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker’s stock valued at $34,000 after buying an additional 300 shares during the last quarter. Finally, Gen Wealth Partners Inc increased its holdings in Corning by 151.7% in the first quarter. Gen Wealth Partners Inc now owns 755 shares of the electronics maker’s stock valued at $35,000 after buying an additional 455 shares during the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insider Buying and Selling

In related news, CEO Wendell P. Weeks sold 82,103 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $65.19, for a total value of $5,352,294.57. Following the completion of the transaction, the chief executive officer directly owned 809,295 shares of the company’s stock, valued at $52,757,941.05. This represents a 9.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Jaymin Amin sold 17,721 shares of the stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $77.18, for a total value of $1,367,706.78. Following the completion of the transaction, the senior vice president directly owned 88,722 shares of the company’s stock, valued at $6,847,563.96. This trade represents a 16.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on GLW. JPMorgan Chase & Co. boosted their price objective on Corning from $62.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, July 25th. Mizuho boosted their price objective on Corning from $74.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, October 3rd. Citigroup boosted their price objective on Corning from $72.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Oppenheimer reissued an “outperform” rating and issued a $72.00 price objective (up from $55.00) on shares of Corning in a report on Wednesday, July 30th. Finally, Morgan Stanley boosted their price objective on Corning from $56.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Corning Stock Down 3.2%

NYSE:GLW opened at $86.53 on Wednesday. The firm has a market capitalization of $74.12 billion, a PE ratio of 92.05, a price-to-earnings-growth ratio of 2.00 and a beta of 1.14. The stock has a 50 day moving average of $78.28 and a 200-day moving average of $60.97. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $89.77. The company has a current ratio of 1.50, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, October 28th. The electronics maker reported $0.67 EPS for the quarter, beating the consensus estimate of $0.66 by $0.01. Corning had a return on equity of 17.27% and a net margin of 5.77%.The company had revenue of $4.27 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period in the prior year, the company earned $0.54 earnings per share. The business’s revenue was up 20.9% compared to the same quarter last year. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. Analysts predict that Corning Incorporated will post 2.33 EPS for the current year.

Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 14th will be issued a $0.28 dividend. 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 dividend payout ratio is 119.15%.

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.