Phoenix Financial Ltd. Makes New $211,000 Investment in Corning Incorporated $GLW

Phoenix Financial Ltd. purchased a new position in Corning Incorporated (NYSE:GLW) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,020 shares of the electronics maker’s stock, valued at approximately $211,000.

Other hedge funds also recently bought and sold shares of the company. Davis Investment Partners LLC bought a new position in Corning in the 2nd quarter worth $251,000. Central Pacific Bank Trust Division boosted its stake in shares of Corning by 23.6% in the second quarter. Central Pacific Bank Trust Division now owns 72,982 shares of the electronics maker’s stock worth $3,838,000 after acquiring an additional 13,920 shares during the period. Strs Ohio bought a new position in shares of Corning in the first quarter worth about $27,219,000. Acadian Asset Management LLC boosted its stake in shares of Corning by 4,346.5% in the first quarter. Acadian Asset Management LLC now owns 153,984 shares of the electronics maker’s stock worth $7,048,000 after acquiring an additional 150,521 shares during the period. Finally, Intech Investment Management LLC boosted its stake in Corning by 507.6% in the 1st quarter. Intech Investment Management LLC now owns 211,124 shares of the electronics maker’s stock worth $9,665,000 after purchasing an additional 176,379 shares during the period. Institutional investors own 69.80% of the company’s stock.

Insider Transactions at Corning

In other news, COO Avery H. Nelson III sold 36,240 shares of the firm’s stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $62.26, for a total value 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 trade represents a 35.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Wendell P. Weeks sold 82,103 shares of the firm’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $65.19, for a total transaction of $5,352,294.57. Following the completion of the sale, the chief executive officer directly owned 809,295 shares of the company’s stock, valued at approximately $52,757,941.05. The trade was a 9.21% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 181,671 shares of company stock worth $11,816,899. 0.40% of the stock is currently owned by insiders.

Corning Price Performance

GLW stock opened at $85.84 on Friday. 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. The company has a fifty day simple moving average of $76.91 and a two-hundred day simple moving average of $59.74. The firm has a market capitalization of $73.54 billion, a P/E ratio of 91.32, a price-to-earnings-growth ratio of 1.88 and a beta of 1.14.

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

Corning Dividend Announcement

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 issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, November 14th. Corning’s dividend payout ratio (DPR) is 119.15%.

Wall Street Analyst Weigh In

Several research firms have weighed in on GLW. Barclays upped their price target on Corning from $52.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 30th. Morgan Stanley upped their target price on shares of Corning from $56.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, October 10th. UBS Group upped their target price on shares of Corning from $84.00 to $91.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. Weiss Ratings restated a “hold (c+)” rating on shares of Corning in a research report on Wednesday, October 8th. Finally, Argus reissued a “buy” rating and set a $68.00 price objective on shares of Corning in a report on Wednesday, July 30th. One investment 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

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.