Alta Advisers Ltd Makes New $218,000 Investment in Corning Incorporated $GLW

Alta Advisers Ltd bought a new position in shares of Corning Incorporated (NYSE:GLW) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,144 shares of the electronics maker’s stock, valued at approximately $218,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in shares of Corning by 46.0% during the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock worth $319,000 after purchasing an additional 2,114 shares during the period. Pallas Capital Advisors LLC acquired a new stake in shares of Corning during the first quarter worth about $286,000. GAMMA Investing LLC raised its position in shares of Corning by 29.2% during the first quarter. GAMMA Investing LLC now owns 11,358 shares of the electronics maker’s stock worth $520,000 after purchasing an additional 2,567 shares during the period. Simon Quick Advisors LLC raised its position in shares of Corning by 59.3% during the first quarter. Simon Quick Advisors LLC now owns 9,738 shares of the electronics maker’s stock worth $446,000 after purchasing an additional 3,625 shares during the period. Finally, NorthCrest Asset Manangement LLC raised its position in shares of Corning by 1.7% during the first quarter. NorthCrest Asset Manangement LLC now owns 43,696 shares of the electronics maker’s stock worth $2,000,000 after purchasing an additional 745 shares during the period. Institutional investors own 69.80% of the company’s stock.

Corning Trading Down 4.8%

Shares of Corning stock opened at $83.00 on Friday. Corning Incorporated has a 12-month low of $37.31 and a 12-month high of $87.78. The stock has a market cap of $71.10 billion, a P/E ratio of 88.30, a P/E/G ratio of 1.85 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. The business’s 50 day moving average is $73.19 and its 200-day moving average is $57.25.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. Corning had a return on equity of 17.27% and a net margin of 5.77%.The company had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.84 billion. During the same quarter in the prior year, the business posted $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Equities research analysts predict that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 14th will be paid 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 is currently 119.15%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GLW. Argus reaffirmed a “buy” rating and set a $68.00 price target on shares of Corning in a research report on Wednesday, July 30th. JPMorgan Chase & Co. raised their price target on Corning from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, July 25th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Corning in a research report on Wednesday. Morgan Stanley raised their price target on Corning from $56.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Mizuho raised their price target on Corning from $74.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Corning currently has an average rating of “Moderate Buy” and an average price target of $73.00.

Insider Activity at Corning

In other news, EVP Lewis A. Steverson sold 16,646 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president owned 39,759 shares in the company, valued at $2,473,804.98. This represents a 29.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 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 stock was sold at an average price of $62.36, for a total value of $927,854.44. Following the sale, the senior vice president owned 35,743 shares in the company, valued at approximately $2,228,933.48. This represents a 29.39% 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 worth $11,816,899. Insiders own 0.40% of the company’s stock.

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.