QRG Capital Management Inc. Has $2.71 Million Holdings in Corning Incorporated $GLW

QRG Capital Management Inc. boosted its holdings in shares of Corning Incorporated (NYSE:GLW) by 21.6% in the second quarter, HoldingsChannel reports. The firm owned 51,449 shares of the electronics maker’s stock after acquiring an additional 9,137 shares during the period. QRG Capital Management Inc.’s holdings in Corning were worth $2,706,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Amundi increased its stake in shares of Corning by 64.3% in the first quarter. Amundi now owns 6,408,605 shares of the electronics maker’s stock valued at $271,237,000 after buying an additional 2,507,797 shares in the last quarter. Nuveen LLC bought a new stake in Corning during the 1st quarter worth about $104,789,000. Kingstone Capital Partners Texas LLC acquired a new stake in Corning in the 2nd quarter valued at about $92,560,000. Assenagon Asset Management S.A. increased its position in Corning by 101.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,951,938 shares of the electronics maker’s stock valued at $135,140,000 after acquiring an additional 1,483,151 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of Corning by 185.7% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,801,411 shares of the electronics maker’s stock worth $94,736,000 after acquiring an additional 1,170,992 shares during the last quarter. Institutional investors own 69.80% of the company’s stock.

Insider Activity

In other Corning news, SVP Jaymin Amin sold 17,721 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the senior vice president owned 88,722 shares of the company’s stock, valued at approximately $6,847,563.96. This represents a 16.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Avery H. Nelson III sold 36,240 shares of the stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $62.26, for a total transaction of $2,256,302.40. Following the completion of the sale, the chief operating officer owned 64,838 shares in the company, valued at approximately $4,036,813.88. This trade represents a 35.85% decrease in their ownership of the stock. 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. 0.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on GLW shares. Argus reissued a “buy” rating and set a $68.00 price target on shares of Corning in a research note on Wednesday, July 30th. Wall Street Zen downgraded Corning from a “strong-buy” rating to a “hold” rating in a report on Saturday, September 13th. Morgan Stanley set a $56.00 target price on Corning and gave the company an “equal weight” rating in a research note on Wednesday, July 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Corning in a research note on Saturday, September 27th. Finally, UBS Group lifted their price objective on Corning from $84.00 to $91.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Corning presently has an average rating of “Moderate Buy” and an average price target of $71.42.

Corning Trading Up 2.1%

NYSE GLW opened at $85.34 on Tuesday. Corning Incorporated has a 12 month low of $37.31 and a 12 month high of $86.10. The stock has a 50-day simple moving average of $71.34 and a 200 day simple moving average of $56.27. 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 market capitalization of $73.10 billion, a PE ratio of 90.79, a P/E/G ratio of 1.86 and a beta of 1.14.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. The company 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 period in the previous year, the company earned $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Research analysts forecast that Corning Incorporated will post 2.33 EPS for the current year.

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.