OVERSEA CHINESE BANKING Corp Ltd Acquires New Holdings in Corning Incorporated $GLW

OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Corning Incorporated (NYSE:GLW) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,422 shares of the electronics maker’s stock, valued at approximately $233,000.

A number of other large investors also recently modified their holdings of the company. REAP Financial Group LLC raised its position in Corning by 191.5% in the second quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock valued at $27,000 after purchasing an additional 339 shares during the last quarter. Investment Management Corp VA ADV raised its holdings in Corning by 165.9% in the 1st quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker’s stock valued at $34,000 after buying an additional 463 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC boosted its position in Corning by 90.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker’s stock worth $34,000 after buying an additional 353 shares during the period. Resources Management Corp CT ADV boosted its position in Corning by 66.7% during the 1st quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker’s stock worth $34,000 after buying an additional 300 shares during the period. Finally, Gen Wealth Partners Inc grew its holdings in Corning by 151.7% during the 1st quarter. Gen Wealth Partners Inc now owns 755 shares of the electronics maker’s stock worth $35,000 after acquiring an additional 455 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors.

Corning Stock Down 3.2%

Corning stock opened at $86.53 on Wednesday. The company has a market capitalization of $74.12 billion, a PE ratio of 92.05, a PEG ratio of 2.00 and a beta of 1.14. Corning Incorporated has a 12-month low of $37.31 and a 12-month high of $89.77. The firm’s fifty day moving average is $78.28 and its 200 day moving average is $60.97. The company has a quick ratio of 0.93, a current ratio of 1.50 and a debt-to-equity ratio of 0.58.

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

Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 14th will be issued a dividend of $0.28 per share. The ex-dividend date is Friday, November 14th. This represents a $1.12 annualized dividend and a dividend yield of 1.3%. Corning’s payout ratio is currently 119.15%.

Insider Buying and Selling

In other Corning news, 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 owned 809,295 shares in the company, valued at approximately $52,757,941.05. The trade was a 9.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Jaymin Amin sold 17,721 shares of the firm’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $77.18, for a total transaction of $1,367,706.78. Following the completion of the transaction, the senior vice president directly owned 88,722 shares in the company, valued at $6,847,563.96. This trade represents a 16.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.32% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wolfe Research began coverage on shares of Corning in a report on Tuesday, July 8th. They set an “outperform” rating on the stock. Morgan Stanley lifted their target price on Corning from $56.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, October 10th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Corning in a research report on Wednesday, October 8th. JPMorgan Chase & Co. raised their price objective on Corning from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, July 25th. Finally, Citigroup upped their target price on Corning from $72.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $73.00.

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.