Delta Investment Management LLC Buys 978 Shares of Corning Incorporated $GLW

Delta Investment Management LLC boosted its stake in shares of Corning Incorporated (NYSE:GLW) by 7.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,412 shares of the electronics maker’s stock after acquiring an additional 978 shares during the quarter. Delta Investment Management LLC’s holdings in Corning were worth $705,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. grew its holdings in Corning by 7.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,381,170 shares of the electronics maker’s stock worth $72,636,000 after acquiring an additional 97,087 shares during the last quarter. Wealthfront Advisers LLC grew its holdings in Corning by 61.8% during the 2nd quarter. Wealthfront Advisers LLC now owns 49,785 shares of the electronics maker’s stock worth $2,618,000 after acquiring an additional 19,024 shares during the last quarter. New Hampshire Trust grew its holdings in Corning by 6.9% during the 2nd quarter. New Hampshire Trust now owns 7,128 shares of the electronics maker’s stock worth $375,000 after acquiring an additional 462 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in Corning by 5.4% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 667,504 shares of the electronics maker’s stock worth $35,104,000 after acquiring an additional 34,452 shares during the last quarter. Finally, Prudent Man Advisors LLC grew its holdings in Corning by 13.6% during the 2nd quarter. Prudent Man Advisors LLC now owns 30,841 shares of the electronics maker’s stock worth $1,622,000 after acquiring an additional 3,694 shares during the last quarter. Institutional investors own 69.80% of the company’s stock.

Corning Stock Up 1.9%

Corning stock opened at $87.46 on Monday. The company’s 50 day simple moving average is $77.36 and its 200 day simple moving average is $60.33. Corning Incorporated has a fifty-two week low of $37.31 and a fifty-two week high of $87.78. The firm 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 company has a debt-to-equity ratio of 0.58, a current ratio of 1.50 and a quick ratio of 0.93.

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

Corning Dividend Announcement

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

Insider Transactions at Corning

In other Corning news, CEO Wendell P. Weeks sold 82,103 shares of Corning stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $52,757,941.05. The trade was a 9.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Avery H. Nelson III sold 36,240 shares of Corning stock in a transaction that occurred on Wednesday, July 30th. The shares were 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 directly 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. In the last 90 days, insiders have sold 181,671 shares of company stock valued at $11,816,899. 0.32% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on GLW. UBS Group raised their target price on shares of Corning from $84.00 to $91.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. Oppenheimer reaffirmed an “outperform” rating and issued a $72.00 target price (up previously from $55.00) on shares of Corning in a research note on Wednesday, July 30th. Wall Street Zen lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Saturday, September 13th. JPMorgan Chase & Co. raised their target price on shares of Corning from $62.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Corning in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

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.