OFI Invest Asset Management Purchases 744 Shares of Corning Incorporated $GLW

OFI Invest Asset Management raised its position in Corning Incorporated (NYSE:GLW) by 49.4% in the 2nd quarter, Holdings Channel reports. The firm owned 2,251 shares of the electronics maker’s stock after buying an additional 744 shares during the quarter. OFI Invest Asset Management’s holdings in Corning were worth $118,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. REAP Financial Group LLC boosted its holdings in Corning by 191.5% in the 2nd quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock valued at $27,000 after purchasing an additional 339 shares during the period. Investment Management Corp VA ADV boosted its holdings in Corning by 165.9% in the 1st 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 boosted its holdings in Corning by 90.1% in the 1st 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. Banque Transatlantique SA bought a new position in Corning in the 1st quarter valued at $34,000. Finally, Resources Management Corp CT ADV boosted its holdings in Corning by 66.7% in the 1st quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 300 shares during the period. 69.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. UBS Group raised their price objective on shares of Corning from $84.00 to $91.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. Susquehanna restated a “positive” rating and set a $75.00 price objective (up previously from $60.00) on shares of Corning in a research report on Wednesday, July 30th. Morgan Stanley raised their price objective on shares of Corning from $56.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday. Argus restated a “buy” rating and set a $68.00 price objective on shares of Corning in a research report on Wednesday, July 30th. Finally, Mizuho raised their price objective on shares of Corning from $74.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, October 3rd. One 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Insider Buying and Selling

In other Corning news, SVP Jaymin Amin sold 17,721 shares of the firm’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $77.18, for a total value of $1,367,706.78. Following the sale, the senior vice president owned 88,722 shares of the company’s stock, valued at $6,847,563.96. This trade represents a 16.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael Paul O’day sold 14,879 shares of the firm’s stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $62.36, for a total transaction of $927,854.44. Following the completion of the sale, the senior vice president directly owned 35,743 shares in the company, valued at approximately $2,228,933.48. This trade represents a 29.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 181,671 shares of company stock worth $11,816,899 over the last 90 days. Insiders own 0.40% of the company’s stock.

Corning Price Performance

Shares of NYSE:GLW opened at $83.00 on Monday. The stock has a market cap of $71.10 billion, a PE ratio of 88.30, a PEG ratio of 1.85 and a beta of 1.14. The company’s fifty day moving average is $73.19 and its 200 day moving average is $57.32. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $87.78. 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 (NYSE:GLW) last issued its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.84 billion. Corning had a net margin of 5.77% and a return on equity of 17.27%. During the same quarter last year, the company earned $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Research analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 14th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, November 14th. Corning’s dividend payout ratio (DPR) is presently 119.15%.

Corning Company 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.