Insight Inv LLC Sells 1,025 Shares of Corning Incorporated $GLW

Insight Inv LLC trimmed its holdings in Corning Incorporated (NYSE:GLW) by 2.4% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 41,834 shares of the electronics maker’s stock after selling 1,025 shares during the quarter. Insight Inv LLC’s holdings in Corning were worth $2,200,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in GLW. Amundi increased its stake in shares of 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 buying an additional 2,507,797 shares during the period. Nuveen LLC purchased a new position in shares of Corning in the first quarter worth $104,789,000. Kingstone Capital Partners Texas LLC purchased a new position in shares of Corning in the second quarter worth $92,560,000. Assenagon Asset Management S.A. increased its stake in shares of Corning by 101.0% in the first quarter. Assenagon Asset Management S.A. now owns 2,951,938 shares of the electronics maker’s stock worth $135,140,000 after buying an additional 1,483,151 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of Corning by 185.7% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,801,411 shares of the electronics maker’s stock worth $94,736,000 after buying an additional 1,170,992 shares during the period. 69.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GLW has been the topic of several analyst reports. UBS Group lifted their target price on shares of Corning from $84.00 to $91.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Argus restated a “buy” rating and issued a $68.00 price objective on shares of Corning in a 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 report on Wednesday, July 30th. Mizuho upped their price objective on shares of Corning from $74.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, October 3rd. Finally, Barclays upped their price objective on shares of Corning from $52.00 to $65.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Corning presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.42.

Insider Transactions at Corning

In related news, CEO Wendell P. Weeks sold 82,103 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer owned 809,295 shares in the company, valued at $52,757,941.05. The trade was a 9.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Avery H. Nelson III sold 36,240 shares of the company’s stock in a transaction dated 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 transaction, the chief operating officer owned 64,838 shares in the company, 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 ninety days, insiders sold 181,671 shares of company stock worth $11,816,899. 0.40% of the stock is owned by insiders.

Corning Stock Up 2.3%

NYSE:GLW opened at $87.04 on Thursday. The firm’s 50-day moving average price is $72.29 and its 200-day moving average price is $56.68. The company has a market capitalization of $74.56 billion, a PE ratio of 92.60, a P/E/G ratio of 1.90 and a beta of 1.14. 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 1-year low of $37.31 and a 1-year high of $87.07.

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

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.