Kera Capital Partners Inc. Sells 5,626 Shares of Corning Incorporated $GLW

Kera Capital Partners Inc. lessened its position in Corning Incorporated (NYSE:GLW) by 3.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 140,671 shares of the electronics maker’s stock after selling 5,626 shares during the period. Corning comprises 1.5% of Kera Capital Partners Inc.’s portfolio, making the stock its 14th largest holding. Kera Capital Partners Inc.’s holdings in Corning were worth $7,398,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vermillion Wealth Management Inc. bought a new position in shares of Corning in the fourth quarter worth approximately $29,000. Putney Financial Group LLC purchased a new position in shares of Corning during the fourth quarter valued at approximately $30,000. Investment Management Corp VA ADV raised its holdings in shares of Corning by 165.9% during the first quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 463 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its holdings in shares of Corning by 90.1% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 353 shares during the last quarter. Finally, Banque Transatlantique SA purchased a new position in shares of Corning during the first quarter valued at approximately $34,000. Institutional investors own 69.80% of the company’s stock.

Wall Street Analysts Forecast Growth

GLW has been the subject of several research reports. Susquehanna reissued a “positive” rating and set a $75.00 price objective (up from $60.00) on shares of Corning in a report on Wednesday, July 30th. Wall Street Zen cut shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Saturday. Citigroup boosted their price objective on shares of Corning from $52.00 to $60.00 and gave the company a “buy” rating in a report on Friday, July 11th. Barclays boosted their price objective on shares of Corning from $52.00 to $65.00 and gave the company an “equal weight” rating in a report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Corning from $62.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $66.75.

Insiders Place Their Bets

In other Corning news, CFO Edward A. Schlesinger sold 14,082 shares of the company’s stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $62.28, for a total value of $877,026.96. Following the completion of the transaction, the chief financial officer directly owned 78,316 shares in the company, valued at $4,877,520.48. This represents a 15.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Wendell P. Weeks sold 82,103 shares of the company’s stock in a transaction that occurred on 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 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 163,950 shares of company stock valued at $10,449,192. Insiders own 0.40% of the company’s stock.

Corning Stock Up 2.1%

Shares of GLW stock opened at $77.03 on Friday. Corning Incorporated has a 12 month low of $37.31 and a 12 month high of $77.87. The stock has a market cap of $65.99 billion, a P/E ratio of 81.95, a P/E/G ratio of 1.69 and a beta of 1.09. The company has a current ratio of 1.50, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. The company has a 50 day simple moving average of $62.75 and a two-hundred day simple moving average of $52.48.

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

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 29th. Corning’s dividend payout ratio is currently 119.15%.

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.