Bleakley Financial Group LLC Buys 1,786 Shares of Corning Incorporated $GLW

Bleakley Financial Group LLC boosted its stake in shares of Corning Incorporated (NYSE:GLW) by 10.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,329 shares of the electronics maker’s stock after acquiring an additional 1,786 shares during the quarter. Bleakley Financial Group LLC’s holdings in Corning were worth $964,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Davis Investment Partners LLC acquired a new stake in shares of Corning during the second quarter worth approximately $251,000. Central Pacific Bank Trust Division grew its position in Corning by 23.6% during the 2nd 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 last quarter. Strs Ohio bought a new position in Corning in the 1st quarter valued at $27,219,000. Acadian Asset Management LLC boosted its stake in 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 purchasing an additional 150,521 shares in the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of Corning by 8.0% during the second quarter. Nordea Investment Management AB now owns 70,651 shares of the electronics maker’s stock worth $3,731,000 after purchasing an additional 5,227 shares during the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insider Activity

In other news, COO Avery H. Nelson III sold 36,240 shares of the business’s stock in a transaction on 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 transaction, the chief operating officer owned 64,838 shares of the company’s stock, valued at $4,036,813.88. The trade was a 35.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jaymin Amin sold 17,721 shares of the firm’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $77.18, for a total value of $1,367,706.78. Following the sale, the senior vice president directly owned 88,722 shares in the company, valued at $6,847,563.96. The trade was a 16.65% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 181,671 shares of company stock valued at $11,816,899. 0.40% of the stock is currently owned by company insiders.

Corning Stock Performance

Shares of Corning stock opened at $87.46 on Friday. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $87.78. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.50. The stock has a market capitalization of $74.92 billion, a price-to-earnings ratio of 93.04, a PEG ratio of 1.95 and a beta of 1.14. The firm has a fifty day moving average of $77.36 and a two-hundred day moving average of $60.22.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, July 29th. The electronics maker reported $0.60 EPS 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 business had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.84 billion. During the same period in the previous year, the firm earned $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. As a group, equities research analysts predict that Corning Incorporated will post 2.33 EPS for the current year.

Corning Announces Dividend

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

Analysts Set New Price Targets

GLW has been the subject of several research reports. 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. Argus restated a “buy” rating and issued a $68.00 price objective on shares of Corning in a research report on Wednesday, July 30th. Mizuho upped their price objective on Corning from $74.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, October 3rd. Susquehanna reissued a “positive” rating and issued a $75.00 target price (up from $60.00) on shares of Corning in a research note on Wednesday, July 30th. Finally, Barclays boosted their target price on Corning from $52.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 30th. One equities 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. According to MarketBeat, Corning has an average rating of “Moderate Buy” and a consensus target price of $73.00.

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.