Intech Investment Management LLC Purchases 176,379 Shares of Corning Incorporated $GLW

Intech Investment Management LLC boosted its position in Corning Incorporated (NYSE:GLW) by 507.6% in the 1st quarter, HoldingsChannel reports. The firm owned 211,124 shares of the electronics maker’s stock after acquiring an additional 176,379 shares during the period. Intech Investment Management LLC’s holdings in Corning were worth $9,665,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Focus Partners Wealth lifted its position in shares of Corning by 2.0% in the first quarter. Focus Partners Wealth now owns 614,241 shares of the electronics maker’s stock valued at $28,120,000 after buying an additional 12,001 shares during the last quarter. Aspen Investment Management Inc grew its position in shares of Corning by 4.8% in the first quarter. Aspen Investment Management Inc now owns 25,016 shares of the electronics maker’s stock valued at $1,145,000 after purchasing an additional 1,143 shares during the last quarter. SageView Advisory Group LLC grew its position in shares of Corning by 237.2% in the first quarter. SageView Advisory Group LLC now owns 19,408 shares of the electronics maker’s stock valued at $889,000 after purchasing an additional 13,653 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Corning by 10.6% during 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 purchasing an additional 558,184 shares during the period. Finally, MBB Public Markets I LLC acquired a new stake in Corning during the 1st quarter worth approximately $296,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Trading Up 3.5%

GLW opened at $74.93 on Thursday. The stock has a market capitalization of $64.19 billion, a price-to-earnings ratio of 79.71, a P/E/G ratio of 1.62 and a beta of 1.09. The company has a quick ratio of 0.93, a current ratio of 1.50 and a debt-to-equity ratio of 0.58. Corning Incorporated has a twelve month low of $37.31 and a twelve month high of $75.05. The company has a 50-day simple moving average of $61.83 and a 200 day simple moving average of $52.12.

Corning (NYSE:GLW) last released its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. Corning had a net margin of 5.77% and a return on equity of 17.27%. The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.84 billion. During the same period last year, the firm earned $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Analysts predict that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.5%. The ex-dividend date is Friday, August 29th. Corning’s payout ratio is currently 119.15%.

Wall Street Analyst Weigh In

A number of research analysts have commented on GLW shares. Argus reaffirmed a “buy” rating and issued a $68.00 price objective on shares of Corning in a report on Wednesday, July 30th. UBS Group upgraded shares of Corning from a “neutral” rating to a “buy” rating and upped their price target for the company from $65.00 to $84.00 in a research note on Tuesday, September 2nd. Barclays raised their price target on shares of Corning from $52.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 30th. Morgan Stanley set a $56.00 price objective on shares of Corning and gave the stock an “equal weight” rating in a research note on Wednesday, July 30th. Finally, Susquehanna restated a “positive” rating and set a $75.00 target price (up previously from $60.00) on shares of Corning in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.75.

Insider Activity

In related news, COO Avery H. Nelson III sold 36,240 shares of the company’s stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $62.26, for a total transaction of $2,256,302.40. Following the completion of the sale, the chief operating officer directly owned 64,838 shares in the company, valued at $4,036,813.88. This represents a 35.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael Paul O’day sold 14,879 shares of the firm’s stock in a transaction dated Wednesday, July 30th. The shares were 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 directly owned 35,743 shares in the company, valued at $2,228,933.48. This trade represents a 29.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 163,950 shares of company stock valued at $10,449,192. Corporate insiders own 0.40% of the company’s stock.

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.