Aspen Investment Management Inc Buys 1,143 Shares of Corning Incorporated $GLW

Aspen Investment Management Inc boosted its stake in shares of Corning Incorporated (NYSE:GLW) by 4.8% in the first quarter, Holdings Channel reports. The institutional investor owned 25,016 shares of the electronics maker’s stock after purchasing an additional 1,143 shares during the period. Aspen Investment Management Inc’s holdings in Corning were worth $1,145,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Amundi increased its position in Corning by 64.3% during the 1st quarter. Amundi now owns 6,408,605 shares of the electronics maker’s stock valued at $271,237,000 after buying an additional 2,507,797 shares in the last quarter. Bank of New York Mellon Corp increased its position in Corning by 1.3% during the 1st quarter. Bank of New York Mellon Corp now owns 6,347,977 shares of the electronics maker’s stock valued at $290,610,000 after buying an additional 80,872 shares in the last quarter. Invesco Ltd. increased its position in Corning by 4.8% during the 1st quarter. Invesco Ltd. now owns 6,337,063 shares of the electronics maker’s stock valued at $290,111,000 after buying an additional 288,328 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Corning by 10.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,844,174 shares of the electronics maker’s stock valued at $267,546,000 after buying an additional 558,184 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Corning by 6.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,285,990 shares of the electronics maker’s stock valued at $251,190,000 after buying an additional 303,607 shares in the last quarter. Institutional investors own 69.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Morgan Stanley set a $56.00 price objective on Corning and gave the company an “equal weight” rating in a research report on Wednesday, July 30th. Mizuho lifted their target price on Corning from $63.00 to $74.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Wolfe Research assumed coverage on Corning in a report on Tuesday, July 8th. They issued an “outperform” rating for the company. Barclays lifted their target price on Corning from $52.00 to $65.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. lifted their target price on Corning from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Corning presently has an average rating of “Moderate Buy” and an average target price of $66.75.

Corning Stock Performance

Shares of GLW opened at $72.36 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.50 and a quick ratio of 0.93. Corning Incorporated has a one year low of $37.31 and a one year high of $72.94. The firm has a market capitalization of $61.98 billion, a P/E ratio of 76.98, a PEG ratio of 1.62 and a beta of 1.09. The business has a fifty day moving average of $61.38 and a 200 day moving average of $51.96.

Corning (NYSE:GLW) last issued its quarterly earnings data on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $3.84 billion. During the same quarter in the previous year, the company posted $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. As a group, sell-side analysts anticipate 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 Monday, September 29th. Investors of record on Friday, August 29th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.12 annualized dividend and a dividend yield of 1.5%. Corning’s payout ratio is presently 119.15%.

Insider Buying and Selling at Corning

In other Corning news, SVP Michael Paul O’day sold 14,879 shares of the business’s 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 sale, the senior vice president owned 35,743 shares of the company’s stock, 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 SEC, which is accessible through the SEC website. Also, CEO Wendell P. Weeks sold 82,103 shares of the business’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $65.19, for a total value of $5,352,294.57. Following the sale, the chief executive officer directly owned 809,295 shares of the company’s stock, valued at $52,757,941.05. This represents a 9.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 163,950 shares of company stock valued at $10,449,192 in the last ninety days. 0.32% of the stock is currently owned by company insiders.

About Corning

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.