D.B. Root & Company LLC Buys 663 Shares of Corning Incorporated $GLW

D.B. Root & Company LLC lifted its stake in Corning Incorporated (NYSE:GLW) by 3.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,727 shares of the electronics maker’s stock after buying an additional 663 shares during the period. D.B. Root & Company LLC’s holdings in Corning were worth $812,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in GLW. Brighton Jones LLC lifted its stake in shares of Corning by 46.0% in the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock valued at $319,000 after buying an additional 2,114 shares during the period. MML Investors Services LLC lifted its stake in shares of Corning by 7.2% in the fourth quarter. MML Investors Services LLC now owns 73,270 shares of the electronics maker’s stock valued at $3,482,000 after buying an additional 4,916 shares during the period. Hsbc Holdings PLC lifted its stake in shares of Corning by 2.9% in the fourth quarter. Hsbc Holdings PLC now owns 1,433,814 shares of the electronics maker’s stock valued at $68,066,000 after buying an additional 40,471 shares during the period. Dark Forest Capital Management LP raised its position in Corning by 71.7% in the fourth quarter. Dark Forest Capital Management LP now owns 10,631 shares of the electronics maker’s stock worth $505,000 after purchasing an additional 4,439 shares in the last quarter. Finally, MGO One Seven LLC raised its position in Corning by 43.8% in the fourth quarter. MGO One Seven LLC now owns 68,903 shares of the electronics maker’s stock worth $3,274,000 after purchasing an additional 20,999 shares in the last quarter. Institutional investors own 69.80% of the company’s stock.

Corning Price Performance

Shares of GLW stock opened at $64.8760 on Friday. Corning Incorporated has a 52-week low of $37.31 and a 52-week high of $66.50. The stock has a market cap of $55.57 billion, a PE ratio of 69.02, a PEG ratio of 1.45 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.50. The firm’s 50 day moving average price is $56.83 and its two-hundred day moving average price is $50.51.

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

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, August 29th. Corning’s payout ratio is currently 119.15%.

Insiders Place Their Bets

In related news, CFO Edward A. Schlesinger sold 14,082 shares of the business’s stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $62.28, for a total value of $877,026.96. Following the sale, the chief financial officer directly owned 78,316 shares of the company’s stock, valued at approximately $4,877,520.48. The trade was a 15.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Wendell P. Weeks sold 82,103 shares of the business’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $65.19, for a total transaction of $5,352,294.57. Following the completion of the sale, the chief executive officer directly owned 809,295 shares in the company, valued at $52,757,941.05. This represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 211,484 shares of company stock worth $12,813,804 in the last ninety days. 0.40% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on GLW. 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. 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. 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. UBS Group raised their price objective on shares of Corning from $57.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, August 6th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $72.00 price objective (up previously from $55.00) on shares of Corning in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $65.17.

Corning 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.