OMERS ADMINISTRATION Corp Has $12.19 Million Holdings in Corning Incorporated $GLW

OMERS ADMINISTRATION Corp cut its stake in shares of Corning Incorporated (NYSE:GLW) by 1.8% during the 1st quarter, HoldingsChannel reports. The firm owned 266,368 shares of the electronics maker’s stock after selling 4,748 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Corning were worth $12,194,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC increased 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. Boothbay Fund Management LLC acquired a new position in shares of Corning in the 4th quarter worth approximately $247,000. Beacon Pointe Advisors LLC boosted its stake in shares of Corning by 2.5% in the 4th quarter. Beacon Pointe Advisors LLC now owns 59,953 shares of the electronics maker’s stock valued at $2,849,000 after purchasing an additional 1,487 shares during the last quarter. Northern Trust Corp increased its position in shares of Corning by 2.0% during the fourth quarter. Northern Trust Corp now owns 10,870,375 shares of the electronics maker’s stock worth $516,560,000 after buying an additional 208,826 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in Corning by 46.1% in the fourth quarter. AQR Capital Management LLC now owns 440,740 shares of the electronics maker’s stock valued at $20,944,000 after buying an additional 139,120 shares during the period. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Stock Down 0.2%

Shares of NYSE:GLW opened at $67.24 on Thursday. 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 Incorporated has a 52-week low of $37.31 and a 52-week high of $67.77. The business’s 50 day simple moving average is $58.15 and its two-hundred day simple moving average is $50.89. The firm has a market cap of $57.60 billion, a P/E ratio of 71.53, a PEG ratio of 1.51 and a beta of 1.08.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. Corning had a return on equity of 17.27% and a net margin of 5.77%.The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.84 billion. During the same period in the prior 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, research analysts forecast that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, August 29th. Corning’s dividend payout ratio (DPR) is 119.15%.

Insider Activity

In other Corning news, SVP Michael Paul O’day sold 14,879 shares of Corning stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $62.36, for a total transaction of $927,854.44. Following the completion of the transaction, the senior vice president owned 35,743 shares in the company, valued at approximately $2,228,933.48. The trade was a 29.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lewis A. Steverson sold 16,646 shares of the business’s stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $62.22, for a total value of $1,035,714.12. Following the sale, the executive vice president directly owned 39,759 shares of the company’s stock, valued at $2,473,804.98. This represents a 29.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 163,950 shares of company stock valued at $10,449,192. 0.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

GLW has been the subject of a number of recent analyst reports. UBS Group increased their price target on Corning from $57.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, August 6th. Mizuho raised their target price on Corning from $63.00 to $74.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Wolfe Research started coverage on Corning in a research note on Tuesday, July 8th. They issued an “outperform” rating on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $72.00 price objective (up previously from $55.00) on shares of Corning in a research report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Corning from $62.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Corning has an average rating of “Moderate Buy” and a consensus price target of $65.17.

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.