Phoenix Financial Ltd. Invests $211,000 in Corning Incorporated $GLW

Phoenix Financial Ltd. acquired a new stake in shares of Corning Incorporated (NYSE:GLW) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 4,020 shares of the electronics maker’s stock, valued at approximately $211,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its stake in shares of Corning by 46.0% during the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock valued at $319,000 after acquiring an additional 2,114 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Corning by 29.2% during the first quarter. GAMMA Investing LLC now owns 11,358 shares of the electronics maker’s stock valued at $520,000 after acquiring an additional 2,567 shares in the last quarter. Asset Management One Co. Ltd. raised its position in Corning by 6.2% during the 1st quarter. Asset Management One Co. Ltd. now owns 347,937 shares of the electronics maker’s stock valued at $15,929,000 after purchasing an additional 20,350 shares in the last quarter. Lecap Asset Management Ltd. bought a new stake in Corning during the 1st quarter valued at $461,000. Finally, Spire Wealth Management raised its position in Corning by 8.7% during the 1st quarter. Spire Wealth Management now owns 14,456 shares of the electronics maker’s stock valued at $662,000 after purchasing an additional 1,154 shares in the last quarter. Institutional investors own 69.80% of the company’s stock.

Insider Buying and Selling at Corning

In related news, SVP Jaymin Amin sold 17,721 shares of the company’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $77.18, for a total transaction of $1,367,706.78. Following the transaction, the senior vice president directly owned 88,722 shares of the company’s stock, valued at $6,847,563.96. This represents a 16.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Lewis A. Steverson sold 16,646 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president directly owned 39,759 shares in the company, valued at $2,473,804.98. This represents a 29.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 181,671 shares of company stock valued at $11,816,899. Corporate insiders own 0.40% of the company’s stock.

Corning Stock Performance

Shares of Corning stock opened at $85.84 on Friday. The company has a market capitalization of $73.54 billion, a PE ratio of 91.32, a P/E/G ratio of 1.88 and a beta of 1.14. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.50. The company has a 50-day simple moving average of $76.91 and a two-hundred day simple moving average of $59.74. Corning Incorporated has a one year low of $37.31 and a one year high of $87.78.

Corning (NYSE:GLW) last posted 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. The firm had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.84 billion. Corning had a net margin of 5.77% and a return on equity of 17.27%. During the same quarter in the previous year, the business posted $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Research analysts expect that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Mizuho lifted their target price on Corning from $74.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, October 3rd. Barclays lifted their price objective on Corning from $52.00 to $65.00 and gave the company an “equal weight” rating in a report on Wednesday, July 30th. Wolfe Research began coverage on shares of Corning in a report on Tuesday, July 8th. They issued an “outperform” rating for the company. Susquehanna restated a “positive” rating and issued a $75.00 price target (up previously from $60.00) on shares of Corning in a report on Wednesday, July 30th. Finally, UBS Group boosted their price target on shares of Corning from $84.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $73.00.

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.