Trexquant Investment LP Boosts Holdings in Corning Incorporated $GLW

Trexquant Investment LP raised its holdings in shares of Corning Incorporated (NYSE:GLW) by 2.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 623,667 shares of the electronics maker’s stock after purchasing an additional 17,232 shares during the period. Trexquant Investment LP’s holdings in Corning were worth $28,551,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vermillion Wealth Management Inc. purchased a new position in Corning during the 4th quarter valued at about $29,000. Putney Financial Group LLC purchased a new position in Corning during the 4th quarter valued at about $30,000. Investment Management Corp VA ADV increased its holdings in Corning by 165.9% during the 1st quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker’s stock valued at $34,000 after acquiring an additional 463 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its holdings 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 valued at $34,000 after acquiring an additional 353 shares in the last quarter. Finally, Gen Wealth Partners Inc increased 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 valued at $35,000 after acquiring an additional 455 shares in the last quarter. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on GLW shares. UBS Group lifted their price target on shares of Corning from $57.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, August 6th. Oppenheimer reissued an “outperform” rating and issued a $72.00 price objective (up previously from $55.00) on shares of Corning in a research report on Wednesday, July 30th. Wolfe Research initiated coverage on shares of Corning in a research report on Tuesday, July 8th. They issued an “outperform” rating for the company. Citigroup boosted their price objective on shares of Corning from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, July 11th. Finally, Morgan Stanley set a $56.00 price objective on shares of Corning and gave the company an “equal weight” rating in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Corning has an average rating of “Moderate Buy” and an average target price of $65.17.

Corning Price Performance

Corning stock opened at $67.24 on Thursday. Corning Incorporated has a 1 year low of $37.31 and a 1 year high of $67.77. The firm has a 50 day moving average price of $58.15 and a 200 day moving average price of $50.89. The company has a market cap of $57.60 billion, a price-to-earnings ratio of 71.53, a PEG ratio of 1.51 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.

Corning (NYSE:GLW) last released its earnings results 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. Corning had a net margin of 5.77% and a return on equity of 17.27%. The firm had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.84 billion. During the same period in the previous year, the firm earned $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Sell-side analysts predict that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Announces Dividend

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

Insider Transactions at Corning

In related news, SVP Michael Paul O’day sold 14,879 shares of the business’s stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $62.36, for a total value of $927,854.44. Following the completion of the sale, the senior vice president directly owned 35,743 shares in the company, valued at approximately $2,228,933.48. The trade was a 29.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Wendell P. Weeks sold 82,103 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $52,757,941.05. The trade was a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 163,950 shares of company stock valued at $10,449,192 in the last quarter. Insiders own 0.40% of the company’s stock.

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.