Hazlett Burt & Watson Inc. Purchases 468 Shares of Corning Incorporated $GLW

Hazlett Burt & Watson Inc. lifted its position in shares of Corning Incorporated (NYSE:GLW) by 14.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 3,771 shares of the electronics maker’s stock after buying an additional 468 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in Corning were worth $197,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in GLW. REAP Financial Group LLC lifted its stake in shares of Corning by 191.5% in the second quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock worth $27,000 after acquiring an additional 339 shares during the period. Investment Management Corp VA ADV lifted its stake in shares of Corning by 165.9% in the first quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker’s stock worth $34,000 after acquiring an additional 463 shares during the period. Annis Gardner Whiting Capital Advisors LLC lifted its stake in shares of Corning by 90.1% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker’s stock worth $34,000 after acquiring an additional 353 shares during the period. Banque Transatlantique SA acquired a new position in shares of Corning in the first quarter worth approximately $34,000. Finally, Resources Management Corp CT ADV lifted its stake in shares of Corning by 66.7% in the first quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker’s stock worth $34,000 after acquiring an additional 300 shares during the period. 69.80% of the stock is currently owned by institutional investors.

Insider Activity at Corning

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 owned 64,838 shares in the company, valued at approximately $4,036,813.88. This represents a 35.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Michael Paul O’day sold 14,879 shares of the company’s stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $62.36, for a total value of $927,854.44. Following the sale, the senior vice president owned 35,743 shares of the company’s stock, valued at $2,228,933.48. This trade represents a 29.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold 181,671 shares of company stock valued at $11,816,899 over the last three months. 0.32% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on GLW shares. Citigroup lifted their price objective on Corning from $72.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Corning in a research note on Wednesday, October 8th. Wolfe Research began coverage on Corning in a research note on Tuesday, July 8th. They issued an “outperform” rating on the stock. Oppenheimer reissued an “outperform” rating and issued a $72.00 price target (up from $55.00) on shares of Corning in a research note on Wednesday, July 30th. Finally, Susquehanna reissued a “positive” rating and issued a $75.00 price target (up from $60.00) on shares of Corning in a research note 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Corning Price Performance

Shares of NYSE:GLW opened at $85.59 on Tuesday. 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 $87.78. The stock’s 50 day moving average is $73.63 and its 200-day moving average is $57.60. The firm has a market capitalization of $73.32 billion, a price-to-earnings ratio of 91.05, a PEG ratio of 1.85 and a beta of 1.14.

Corning (NYSE:GLW) last issued 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. Corning had a return on equity of 17.27% and a net margin of 5.77%.The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.84 billion. During the same period in the prior year, the firm earned $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Sell-side analysts forecast that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Announces Dividend

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

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.