Credit Agricole S A Purchases 20,745 Shares of Corning Incorporated $GLW

Credit Agricole S A raised its position in shares of Corning Incorporated (NYSE:GLW) by 8.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 267,283 shares of the electronics maker’s stock after purchasing an additional 20,745 shares during the period. Credit Agricole S A’s holdings in Corning were worth $12,236,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vermillion Wealth Management Inc. bought a new position in Corning during the fourth quarter valued at $29,000. Putney Financial Group LLC bought a new position in Corning during the fourth quarter valued at $30,000. Investment Management Corp VA ADV grew its holdings 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 purchasing an additional 463 shares during the period. Annis Gardner Whiting Capital Advisors LLC grew its holdings 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 purchasing an additional 353 shares during the period. Finally, Gen Wealth Partners Inc grew 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 during the period. 69.80% of the stock is owned by institutional investors.

Insider Activity at Corning

In related news, EVP Lewis A. Steverson sold 16,646 shares of Corning stock in a transaction on Wednesday, July 30th. The stock was 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 trade represents a 29.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Wendell P. Weeks sold 82,103 shares of Corning 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 sale, the chief executive officer directly owned 809,295 shares of the company’s stock, valued at $52,757,941.05. This represents a 9.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 211,484 shares of company stock valued at $12,813,804 in the last ninety days. 0.40% of the stock is currently owned by corporate insiders.

Corning Price Performance

NYSE:GLW opened at $64.57 on Thursday. The firm has a market capitalization of $55.31 billion, a price-to-earnings ratio of 68.69, a P/E/G ratio of 1.45 and a beta of 1.08. Corning Incorporated has a 52-week low of $37.31 and a 52-week high of $66.50. The stock has a fifty day moving average of $56.55 and a 200 day moving average of $50.42. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.50.

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, beating the consensus estimate of $0.57 by $0.03. The company had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.84 billion. Corning had a return on equity of 17.27% and a net margin of 5.77%.During the same quarter last year, the company earned $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. On average, research analysts expect that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.12 annualized dividend and a yield of 1.7%. Corning’s dividend payout ratio (DPR) is currently 119.15%.

Analyst Upgrades and Downgrades

GLW has been the subject of several research reports. Wolfe Research initiated coverage on Corning in a report on Tuesday, July 8th. They set an “outperform” rating for the company. Barclays raised their price target on Corning from $52.00 to $65.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 30th. Morgan Stanley set a $56.00 price target on Corning and gave the stock an “equal weight” rating in a report on Wednesday, July 30th. Citigroup raised their price target on Corning from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Finally, Susquehanna reaffirmed a “positive” rating and issued a $75.00 price target (up from $60.00) on shares of Corning in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $65.17.

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.