Telemark Asset Management LLC Raises Holdings in Corning Incorporated $GLW

Telemark Asset Management LLC boosted its stake in Corning Incorporated (NYSE:GLW) by 20.0% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 240,000 shares of the electronics maker’s stock after buying an additional 40,000 shares during the quarter. Corning makes up about 1.1% of Telemark Asset Management LLC’s holdings, making the stock its 25th biggest position. Telemark Asset Management LLC’s holdings in Corning were worth $12,622,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of GLW. Parkside Financial Bank & Trust lifted its position in shares of Corning by 3.1% in the second quarter. Parkside Financial Bank & Trust now owns 5,296 shares of the electronics maker’s stock valued at $278,000 after acquiring an additional 158 shares in the last quarter. Empirical Finance LLC raised its stake in Corning by 0.7% in the 2nd quarter. Empirical Finance LLC now owns 27,043 shares of the electronics maker’s stock valued at $1,422,000 after purchasing an additional 184 shares during the last quarter. Zions Bancorporation National Association UT raised its stake in Corning by 3.3% in the 2nd quarter. Zions Bancorporation National Association UT now owns 5,746 shares of the electronics maker’s stock valued at $302,000 after purchasing an additional 185 shares during the last quarter. Forte Capital LLC ADV boosted its stake in shares of Corning by 2.4% during the 2nd quarter. Forte Capital LLC ADV now owns 7,973 shares of the electronics maker’s stock worth $419,000 after purchasing an additional 190 shares during the last quarter. Finally, Westside Investment Management Inc. boosted its stake in shares of Corning by 8.3% during the 2nd quarter. Westside Investment Management Inc. now owns 2,565 shares of the electronics maker’s stock worth $135,000 after purchasing an additional 197 shares during the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Stock Down 4.5%

NYSE:GLW opened at $78.04 on Friday. The firm has a market capitalization of $66.90 billion, a PE ratio of 49.39, a price-to-earnings-growth ratio of 1.99 and a beta of 1.15. The stock has a 50 day moving average of $83.88 and a 200-day moving average of $65.88. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $92.57. The company has a current ratio of 1.56, a quick ratio of 0.93 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last released its quarterly earnings data on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. Corning had a return on equity of 18.12% and a net margin of 9.16%.The business had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the previous year, the firm posted $0.54 EPS. The business’s revenue for the quarter 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 company 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 dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, November 14th. Corning’s dividend payout ratio (DPR) is 70.89%.

Insider Transactions at Corning

In other news, CFO Edward A. Schlesinger sold 20,893 shares of Corning stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $91.25, for a total transaction of $1,906,486.25. Following the sale, the chief financial officer owned 66,959 shares of the company’s stock, valued at approximately $6,110,008.75. The trade was a 23.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Eric S. Musser sold 100,000 shares of the stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $90.17, for a total value of $9,017,000.00. Following the completion of the transaction, the insider directly owned 44,926 shares of the company’s stock, valued at $4,050,977.42. This trade represents a 69.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 173,856 shares of company stock worth $15,456,476 over the last 90 days. Corporate insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on GLW. UBS Group reissued a “neutral” rating on shares of Corning in a research report on Friday. Argus upped their price objective on Corning from $68.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Wall Street Zen cut Corning from a “strong-buy” rating to a “hold” rating in a report on Saturday, September 13th. Susquehanna upped their price target on shares of Corning from $75.00 to $100.00 and gave the company a “positive” rating in a report on Wednesday, October 29th. Finally, Barclays boosted their target price on shares of Corning from $65.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Corning has an average rating of “Moderate Buy” and a consensus price target of $90.82.

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.