Corning Incorporated $GLW Stake Reduced by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. cut its holdings in Corning Incorporated (NYSE:GLW) by 0.8% during the 2nd quarter, Holdings Channel.com reports. The fund owned 344,997 shares of the electronics maker’s stock after selling 2,940 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Corning were worth $18,143,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Amundi raised its position in Corning by 64.3% in the first quarter. Amundi now owns 6,408,605 shares of the electronics maker’s stock worth $271,237,000 after acquiring an additional 2,507,797 shares in the last quarter. Bank of New York Mellon Corp raised its position in Corning by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 6,347,977 shares of the electronics maker’s stock worth $290,610,000 after acquiring an additional 80,872 shares in the last quarter. Invesco Ltd. raised its position in Corning by 4.8% in the first quarter. Invesco Ltd. now owns 6,337,063 shares of the electronics maker’s stock worth $290,111,000 after acquiring an additional 288,328 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Corning by 10.6% in the first 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 worth $267,546,000 after acquiring an additional 558,184 shares in the last quarter. Finally, Deutsche Bank AG raised its position in Corning by 37.1% in the first quarter. Deutsche Bank AG now owns 3,835,799 shares of the electronics maker’s stock worth $175,603,000 after acquiring an additional 1,037,875 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Wolfe Research assumed coverage on Corning in a research note on Tuesday, July 8th. They issued an “outperform” rating on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Corning in a research note on Friday. Mizuho lifted their price target on Corning from $74.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, October 3rd. Oppenheimer reissued an “outperform” rating and issued a $72.00 price target (up previously from $55.00) on shares of Corning in a research note on Wednesday, July 30th. Finally, Argus reissued a “buy” rating and issued a $68.00 price target on shares of Corning in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Corning currently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Insider Activity at Corning

In related news, SVP Michael Paul O’day sold 14,879 shares of the business’s stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $62.36, for a total value 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Avery H. Nelson III sold 36,240 shares of the business’s stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $62.26, for a total value of $2,256,302.40. Following the completion of the sale, the chief operating officer directly owned 64,838 shares of the company’s stock, valued at approximately $4,036,813.88. The trade was a 35.85% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 181,671 shares of company stock worth $11,816,899. Company insiders own 0.40% of the company’s stock.

Corning Trading Up 1.9%

NYSE:GLW opened at $87.46 on Friday. 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 fifty-two week low of $37.31 and a fifty-two week high of $87.78. The stock’s 50-day moving average is $77.36 and its two-hundred day moving average is $60.22. The stock has a market cap of $74.92 billion, a PE ratio of 93.04, a price-to-earnings-growth ratio of 1.95 and a beta of 1.14.

Corning (NYSE:GLW) last released its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $3.84 billion. 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. As a group, equities research analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

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

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.