Prudent Man Advisors LLC Acquires 3,694 Shares of Corning Incorporated $GLW

Prudent Man Advisors LLC lifted its holdings in shares of Corning Incorporated (NYSE:GLW) by 13.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,841 shares of the electronics maker’s stock after acquiring an additional 3,694 shares during the period. Prudent Man Advisors LLC’s holdings in Corning were worth $1,622,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Davis Investment Partners LLC bought a new stake in shares of Corning during the second quarter worth about $251,000. Central Pacific Bank Trust Division lifted its position in shares of 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 buying an additional 13,920 shares in the last quarter. Strs Ohio bought a new position in shares of Corning in the first quarter valued at approximately $27,219,000. Acadian Asset Management LLC grew its holdings 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 valued at $7,048,000 after acquiring an additional 150,521 shares in the last quarter. Finally, Nordea Investment Management AB increased its position 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 valued at $3,731,000 after acquiring an additional 5,227 shares during the last quarter. 69.80% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on GLW shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Corning in a research report on Friday. UBS Group boosted their price target on shares of Corning from $84.00 to $91.00 and gave the stock a “buy” rating in a report on Tuesday, September 23rd. Barclays raised their price objective on shares of Corning from $52.00 to $65.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. boosted 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, Susquehanna reissued a “positive” rating and set a $75.00 target price (up from $60.00) on shares of Corning in a research report on Wednesday, July 30th. One investment 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

Corning Stock Up 1.9%

Corning stock opened at $87.46 on Friday. Corning Incorporated has a twelve month low of $37.31 and a twelve month high of $87.78. The firm has a 50 day moving average price of $77.36 and a 200-day moving average price of $60.22. The company has a market capitalization of $74.92 billion, a P/E ratio of 93.04, a P/E/G ratio of 1.95 and a beta of 1.14. 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 (NYSE:GLW) last released its earnings results 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. Corning had a net margin of 5.77% and a return on equity of 17.27%. The firm had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.84 billion. During the same period in the prior year, the firm earned $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. As a group, equities analysts predict that Corning Incorporated will post 2.33 EPS for the current year.

Corning Announces Dividend

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

Insider Activity at Corning

In related news, CEO Wendell P. Weeks sold 82,103 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $65.19, for a total transaction of $5,352,294.57. Following the sale, the chief executive officer directly owned 809,295 shares in the company, valued at approximately $52,757,941.05. This represents a 9.21% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Michael Paul O’day sold 14,879 shares of the company’s stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $62.36, for a total transaction of $927,854.44. Following the sale, the senior vice president owned 35,743 shares in the company, valued at $2,228,933.48. The trade was a 29.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 181,671 shares of company stock worth $11,816,899 in the last ninety days. Insiders own 0.40% of the company’s stock.

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.