Stonehage Fleming Financial Services Holdings Ltd Buys Shares of 10,230 Corning Incorporated $GLW

Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of Corning Incorporated (NYSE:GLW) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 10,230 shares of the electronics maker’s stock, valued at approximately $538,000.

A number of other hedge funds and other institutional investors have also modified their holdings of GLW. Brighton Jones LLC grew its holdings in 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 acquiring an additional 2,114 shares during the period. Pallas Capital Advisors LLC acquired a new position in Corning during the first quarter worth about $286,000. GAMMA Investing LLC grew its holdings in 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 acquiring an additional 2,567 shares during the period. Simon Quick Advisors LLC grew its holdings in 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 acquiring an additional 3,625 shares during the period. Finally, NorthCrest Asset Manangement LLC grew its holdings in 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 acquiring an additional 745 shares during the period. 69.80% of the stock is currently owned by institutional investors.

Corning Trading Down 4.8%

Shares of NYSE GLW opened at $83.00 on Friday. The stock has a market cap of $71.10 billion, a price-to-earnings ratio of 88.30, a PEG ratio of 1.85 and a beta of 1.14. The business has a 50 day simple moving average of $73.19 and a 200 day simple moving average of $57.25. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $87.78. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.50.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. Corning had a return on equity of 17.27% and a net margin of 5.77%.The firm had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.84 billion. 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. On average, research analysts predict that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 14th will be issued 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 payout ratio is 119.15%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Oppenheimer reaffirmed an “outperform” rating and set a $72.00 target price (up from $55.00) on shares of Corning in a report on Wednesday, July 30th. Barclays lifted their target price on Corning from $52.00 to $65.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of Corning in a research note on Wednesday. UBS Group upped their price objective on shares of Corning from $84.00 to $91.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. Finally, Wall Street Zen cut shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Saturday, September 13th. 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $73.00.

Insider Activity at Corning

In other news, CEO Wendell P. Weeks sold 82,103 shares of the business’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 sale, the chief executive officer directly owned 809,295 shares in the company, valued at approximately $52,757,941.05. The trade was a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Lewis A. Steverson sold 16,646 shares of the stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $62.22, for a total value of $1,035,714.12. Following the transaction, the executive vice president owned 39,759 shares of the company’s stock, valued at $2,473,804.98. This represents a 29.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 181,671 shares of company stock valued at $11,816,899. 0.40% of the stock is owned by corporate insiders.

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.