Oppenheimer Asset Management Inc. Buys 34,452 Shares of Corning Incorporated $GLW

Oppenheimer Asset Management Inc. raised its stake in shares of Corning Incorporated (NYSE:GLW) by 5.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 667,504 shares of the electronics maker’s stock after buying an additional 34,452 shares during the period. Oppenheimer Asset Management Inc. owned 0.08% of Corning worth $35,104,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. REAP Financial Group LLC increased its stake in shares of Corning by 191.5% in the second quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock worth $27,000 after purchasing an additional 339 shares during the period. Investment Management Corp VA ADV increased its stake in Corning by 165.9% during the first 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 during the period. Annis Gardner Whiting Capital Advisors LLC increased its stake in Corning by 90.1% during the first 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 during the period. Resources Management Corp CT ADV increased its stake in Corning by 66.7% during the first quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker’s stock valued at $34,000 after acquiring an additional 300 shares during the period. Finally, Gen Wealth Partners Inc boosted its holdings in Corning by 151.7% during the first quarter. Gen Wealth Partners Inc now owns 755 shares of the electronics maker’s stock valued at $35,000 after purchasing an additional 455 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors.

Corning Stock Up 1.9%

NYSE:GLW opened at $87.46 on Friday. The stock’s fifty day moving average price is $77.36 and its two-hundred day moving average price is $60.22. Corning Incorporated has a 52-week low of $37.31 and a 52-week high of $87.78. 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 market cap of $74.92 billion, a price-to-earnings ratio of 93.04, a P/E/G ratio of 1.95 and a beta of 1.14.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share (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 firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same quarter in the prior year, the business earned $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. On average, analysts anticipate that Corning Incorporated will post 2.33 EPS for the current year.

Corning Announces Dividend

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 given a $0.28 dividend. The ex-dividend date 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 currently 119.15%.

Insiders Place Their Bets

In related news, CEO Wendell P. Weeks sold 82,103 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer owned 809,295 shares in the company, valued at $52,757,941.05. This represents a 9.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Lewis A. Steverson sold 16,646 shares of the company’s stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $62.22, for a total transaction of $1,035,714.12. Following the completion of the sale, the executive vice president owned 39,759 shares of the company’s stock, valued at approximately $2,473,804.98. This represents a 29.51% 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 90 days. 0.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have weighed in on GLW. UBS Group lifted their price objective on Corning from $84.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. Wall Street Zen downgraded Corning from a “strong-buy” rating to a “hold” rating in a report on Saturday, September 13th. 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 Corning in a report on Tuesday, July 8th. They set an “outperform” rating on the stock. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $72.00 price objective (up from $55.00) on shares of Corning in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $73.00.

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.