Resona Asset Management Co. Ltd. Acquires 10,508 Shares of Corning Incorporated $GLW

Resona Asset Management Co. Ltd. increased its holdings in shares of Corning Incorporated (NYSE:GLW) by 4.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 264,803 shares of the electronics maker’s stock after buying an additional 10,508 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Corning were worth $13,895,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. REAP Financial Group LLC lifted its holdings in shares of Corning by 191.5% during 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 lifted 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 worth $34,000 after buying an additional 463 shares during the period. Annis Gardner Whiting Capital Advisors LLC grew its position in shares of Corning by 90.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker’s stock valued at $34,000 after buying an additional 353 shares during the last quarter. Resources Management Corp CT ADV grew its position in shares of Corning by 66.7% in the 1st quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker’s stock valued at $34,000 after buying an additional 300 shares during the last quarter. Finally, Gen Wealth Partners Inc increased its stake in shares of Corning by 151.7% in the first quarter. Gen Wealth Partners Inc now owns 755 shares of the electronics maker’s stock valued at $35,000 after buying an additional 455 shares during the period. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on GLW shares. Citigroup boosted their target price on shares of Corning from $93.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Argus increased their target price on Corning from $68.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Wall Street Zen downgraded Corning from a “strong-buy” rating to a “hold” rating in a research note on Saturday, September 13th. Oppenheimer set a $100.00 price target on Corning and gave the stock an “outperform” rating in a report on Wednesday, October 29th. Finally, Mizuho set a $97.00 price objective on Corning in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $90.82.

Corning Stock Down 2.8%

Shares of NYSE:GLW opened at $85.40 on Friday. Corning Incorporated has a 1 year low of $37.31 and a 1 year high of $92.57. The company has a market capitalization of $73.22 billion, a PE ratio of 54.05, a price-to-earnings-growth ratio of 1.99 and a beta of 1.15. The business has a fifty day moving average price of $81.68 and a two-hundred day moving average price of $63.42. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.56 and a quick ratio of 0.93.

Corning (NYSE:GLW) last released its earnings results on Tuesday, October 28th. The electronics maker reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The company had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $4.24 billion. Corning had a return on equity of 18.12% and a net margin of 9.16%.The business’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.54 EPS. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. Analysts forecast 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 Friday, December 12th. Stockholders of record on Friday, November 14th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, November 14th. Corning’s dividend payout ratio is currently 70.89%.

Insider Activity at Corning

In related news, SVP Jaymin Amin sold 17,721 shares of Corning stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $77.18, for a total value of $1,367,706.78. Following the sale, the senior vice president owned 88,722 shares of the company’s stock, valued at approximately $6,847,563.96. The trade was a 16.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Eric S. Musser sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $90.17, for a total value of $9,017,000.00. Following the completion of the transaction, the insider owned 44,926 shares in the company, valued at approximately $4,050,977.42. The trade was a 69.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 173,856 shares of company stock worth $15,456,476 over the last 90 days. Corporate 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.