Rockland Trust Co. Invests $221,000 in Corning Incorporated $GLW

Rockland Trust Co. acquired a new position in Corning Incorporated (NYSE:GLW) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,200 shares of the electronics maker’s stock, valued at approximately $221,000.

Several other large investors have also recently made changes to their positions in the stock. Amundi lifted its holdings in shares of Corning by 64.3% in the 1st 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 during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Corning by 1.3% in the 1st 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 during the last quarter. Invesco Ltd. lifted its holdings in shares of Corning by 4.8% in the 1st 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 during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Corning by 10.6% in the 1st 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 during the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of Corning by 37.1% in the 1st 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 during the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Trading Down 0.1%

Shares of NYSE:GLW opened at $79.57 on Friday. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $79.98. The company’s 50 day moving average is $65.38 and its two-hundred day moving average is $53.50. The company has a current ratio of 1.50, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. The company has a market cap of $68.16 billion, a PE ratio of 84.65, a P/E/G ratio of 1.78 and a beta of 1.09.

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

Corning Announces Dividend

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 $0.28 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.4%. Corning’s dividend payout ratio is currently 119.15%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GLW. Wolfe Research began coverage on shares of Corning in a research note on Tuesday, July 8th. They set an “outperform” rating on the stock. Susquehanna reaffirmed a “positive” rating and set a $75.00 target price (up from $60.00) on shares of Corning in a research note on Wednesday, July 30th. Wall Street Zen downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Saturday, September 13th. UBS Group raised shares of Corning from a “neutral” rating to a “buy” rating and upped their target price for the stock from $65.00 to $84.00 in a research note on Tuesday, September 2nd. Finally, Mizuho upped their target price on shares of Corning from $63.00 to $74.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Corning has an average rating of “Moderate Buy” and an average price target of $66.75.

Insider Transactions at Corning

In related news, EVP Lewis A. Steverson sold 16,646 shares of the stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $62.22, for a total value of $1,035,714.12. Following the transaction, the executive vice president directly owned 39,759 shares of the company’s stock, valued at $2,473,804.98. This trade represents a 29.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Avery H. Nelson III sold 36,240 shares of the stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $62.26, for a total transaction of $2,256,302.40. Following the completion of the transaction, the chief operating officer directly owned 64,838 shares in the company, valued at $4,036,813.88. This trade represents a 35.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 181,671 shares of company stock worth $11,816,899. 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.