Beverly Hills Private Wealth LLC Increases Holdings in Corning Incorporated $GLW

Beverly Hills Private Wealth LLC raised its stake in shares of Corning Incorporated (NYSE:GLW) by 9.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 32,138 shares of the electronics maker’s stock after buying an additional 2,776 shares during the period. Beverly Hills Private Wealth LLC’s holdings in Corning were worth $1,690,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Amundi increased its stake in shares of Corning by 64.3% in the 1st quarter. Amundi now owns 6,408,605 shares of the electronics maker’s stock worth $271,237,000 after purchasing an additional 2,507,797 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Corning by 1.3% in the 1st quarter. Bank of New York Mellon Corp now owns 6,347,977 shares of the electronics maker’s stock worth $290,610,000 after purchasing an additional 80,872 shares in the last quarter. Invesco Ltd. increased its stake in shares of Corning by 4.8% in the 1st quarter. Invesco Ltd. now owns 6,337,063 shares of the electronics maker’s stock worth $290,111,000 after purchasing an additional 288,328 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Corning by 10.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,844,174 shares of the electronics maker’s stock worth $267,546,000 after purchasing an additional 558,184 shares in the last quarter. Finally, Deutsche Bank AG increased its stake in shares of Corning by 37.1% in the 1st quarter. Deutsche Bank AG now owns 3,835,799 shares of the electronics maker’s stock worth $175,603,000 after purchasing an additional 1,037,875 shares in the last quarter. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Corning Stock Down 2.6%

GLW opened at $84.49 on Monday. The company has a market capitalization of $72.38 billion, a PE ratio of 89.88, a price-to-earnings-growth ratio of 1.89 and a beta of 1.14. The firm has a 50-day simple moving average of $75.33 and a two-hundred day simple moving average of $58.73. 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 52 week low of $37.31 and a 52 week high of $87.78.

Corning (NYSE:GLW) last issued its quarterly earnings data on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The firm 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 quarter last year, the business posted $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, November 14th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.3%. Corning’s dividend payout ratio (DPR) is presently 119.15%.

Insider Activity

In other news, EVP Lewis A. Steverson sold 16,646 shares of the firm’s stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $62.22, for a total transaction of $1,035,714.12. Following the completion of the transaction, the executive vice president owned 39,759 shares in the company, valued at $2,473,804.98. This trade represents a 29.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Jaymin Amin sold 17,721 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president owned 88,722 shares of the company’s stock, valued at approximately $6,847,563.96. The trade was a 16.65% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 181,671 shares of company stock valued at $11,816,899. 0.32% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on GLW shares. Argus restated a “buy” rating and issued a $68.00 price objective on shares of Corning in a research note on Wednesday, July 30th. Weiss Ratings restated a “hold (c+)” rating on shares of Corning in a research note on Wednesday, October 8th. 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 report on Tuesday, September 23rd. Citigroup upped their target price on shares of Corning from $72.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Finally, Wall Street Zen downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Saturday, September 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.