Northstar Advisory Group LLC Raises Holdings in Corning Incorporated $GLW

Northstar Advisory Group LLC raised its holdings in shares of Corning Incorporated (NYSE:GLW) by 2.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,346 shares of the electronics maker’s stock after purchasing an additional 1,753 shares during the period. Corning accounts for about 2.3% of Northstar Advisory Group LLC’s holdings, making the stock its 11th largest holding. Northstar Advisory Group LLC’s holdings in Corning were worth $4,751,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in shares of Corning by 46.0% in the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock worth $319,000 after acquiring an additional 2,114 shares during the last quarter. Gotham Asset Management LLC bought a new stake in Corning during the fourth quarter valued at about $306,000. Janus Henderson Group PLC grew its holdings in Corning by 2.1% during the fourth quarter. Janus Henderson Group PLC now owns 86,952 shares of the electronics maker’s stock valued at $4,132,000 after purchasing an additional 1,766 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Corning by 5.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,182 shares of the electronics maker’s stock worth $2,812,000 after acquiring an additional 2,835 shares during the period. Finally, NorthRock Partners LLC boosted its stake in shares of Corning by 24.5% in the fourth quarter. NorthRock Partners LLC now owns 5,925 shares of the electronics maker’s stock worth $282,000 after acquiring an additional 1,167 shares during the period. 69.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Michael Paul O’day sold 14,879 shares of the business’s stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $62.36, for a total transaction of $927,854.44. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Edward A. Schlesinger sold 14,082 shares of Corning stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $62.28, for a total value of $877,026.96. Following the transaction, the chief financial officer directly owned 78,316 shares in the company, valued at approximately $4,877,520.48. This trade represents a 15.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 163,950 shares of company stock valued at $10,449,192 over the last 90 days. Insiders own 0.32% of the company’s stock.

Corning Stock Performance

NYSE GLW opened at $77.03 on Monday. The stock has a fifty day simple moving average of $62.75 and a 200-day simple moving average of $52.52. 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 stock has a market cap of $65.99 billion, a PE ratio of 81.95, a P/E/G ratio of 1.73 and a beta of 1.09. Corning Incorporated has a twelve month low of $37.31 and a twelve month high of $77.87.

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 the consensus estimate of $0.57 by $0.03. The company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.84 billion. Corning had a return on equity of 17.27% and a net margin of 5.77%.During the same period in the previous year, the company posted $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Equities analysts anticipate 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. Investors of record on Friday, August 29th will be paid a dividend of $0.28 per share. The ex-dividend date is Friday, August 29th. This represents a $1.12 annualized dividend and a yield of 1.5%. Corning’s payout ratio is presently 119.15%.

Analysts Set New Price Targets

A number of brokerages recently commented on GLW. JPMorgan Chase & Co. increased their price target on Corning from $62.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. Oppenheimer reiterated an “outperform” rating and issued a $72.00 price target (up from $55.00) on shares of Corning in a report on Wednesday, July 30th. Wolfe Research initiated coverage on Corning in a report on Tuesday, July 8th. They set an “outperform” rating on the stock. Morgan Stanley set a $56.00 price objective on Corning and gave the stock an “equal weight” rating in a report on Wednesday, July 30th. Finally, Citigroup boosted their price target on Corning from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. One research 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’s stock. Based on data from MarketBeat.com, Corning currently has an average rating of “Moderate Buy” and an average target price of $66.75.

Corning 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.