AMI Asset Management Corp Makes New Investment in Corning Incorporated $GLW

AMI Asset Management Corp bought a new stake in Corning Incorporated (NYSE:GLW) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,561 shares of the electronics maker’s stock, valued at approximately $871,000.

Other institutional investors also recently modified their holdings of the company. Davis Investment Partners LLC bought a new stake in shares of Corning in the second quarter valued at about $251,000. Central Pacific Bank Trust Division boosted its position in shares of Corning by 23.6% in the second quarter. Central Pacific Bank Trust Division now owns 72,982 shares of the electronics maker’s stock valued at $3,838,000 after acquiring an additional 13,920 shares during the period. Strs Ohio bought a new stake in shares of Corning in the first quarter valued at about $27,219,000. Acadian Asset Management LLC boosted its position in shares of Corning by 4,346.5% in the first quarter. Acadian Asset Management LLC now owns 153,984 shares of the electronics maker’s stock valued at $7,048,000 after acquiring an additional 150,521 shares during the period. Finally, Intech Investment Management LLC boosted its position in shares of Corning by 507.6% in the first quarter. Intech Investment Management LLC now owns 211,124 shares of the electronics maker’s stock valued at $9,665,000 after acquiring an additional 176,379 shares during the period. Institutional investors own 69.80% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on GLW shares. Barclays boosted their price target on Corning from $52.00 to $65.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 30th. Mizuho boosted their price target on Corning from $63.00 to $74.00 and gave the company 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 for the company. Susquehanna reaffirmed a “positive” rating and issued a $75.00 price target (up previously from $60.00) on shares of Corning in a research note on Wednesday, July 30th. Finally, Morgan Stanley set a $56.00 price target on Corning and gave the company an “equal weight” rating in a research note on Wednesday, July 30th. One 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. According to data from MarketBeat.com, Corning has a consensus rating of “Moderate Buy” and a consensus target price of $70.08.

Insiders Place Their Bets

In related news, EVP Lewis A. Steverson sold 16,646 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $62.22, for a total value of $1,035,714.12. Following the completion of the transaction, the executive vice president owned 39,759 shares in the company, valued at $2,473,804.98. This trade represents a 29.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jaymin Amin sold 17,721 shares of the firm’s stock in a transaction that occurred 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 owned 88,722 shares of the company’s stock, valued at approximately $6,847,563.96. This trade represents a 16.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 181,671 shares of company stock worth $11,816,899 over the last quarter. 0.40% of the stock is currently owned by corporate insiders.

Corning Stock Up 1.3%

Shares of NYSE GLW opened at $83.10 on Thursday. The company has a current ratio of 1.50, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. The company has a market cap of $71.18 billion, a price-to-earnings ratio of 88.40, a PEG ratio of 1.83 and a beta of 1.14. Corning Incorporated has a 12 month low of $37.31 and a 12 month high of $83.75. The stock has a 50-day moving average price of $69.64 and a two-hundred day moving average price of $55.42.

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

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.