Vanguard Personalized Indexing Management LLC Acquires 32,170 Shares of Corning Incorporated $GLW

Vanguard Personalized Indexing Management LLC lifted its holdings in Corning Incorporated (NYSE:GLW) by 32.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 132,743 shares of the electronics maker’s stock after acquiring an additional 32,170 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Corning were worth $6,982,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Forte Capital LLC ADV increased its holdings in shares of Corning by 2.4% in the second quarter. Forte Capital LLC ADV now owns 7,973 shares of the electronics maker’s stock worth $419,000 after purchasing an additional 190 shares during the period. Smith Salley Wealth Management increased its holdings in shares of Corning by 3.3% in the second quarter. Smith Salley Wealth Management now owns 6,280 shares of the electronics maker’s stock worth $330,000 after purchasing an additional 200 shares during the period. Leigh Baldwin & CO. LLC increased its holdings in shares of Corning by 1.7% in the first quarter. Leigh Baldwin & CO. LLC now owns 12,513 shares of the electronics maker’s stock worth $573,000 after purchasing an additional 210 shares during the period. Old North State Wealth Management LLC increased its holdings in shares of Corning by 0.5% in the second quarter. Old North State Wealth Management LLC now owns 40,325 shares of the electronics maker’s stock worth $2,121,000 after purchasing an additional 218 shares during the period. Finally, Harbour Investments Inc. increased its holdings in shares of Corning by 2.4% in the first quarter. Harbour Investments Inc. now owns 9,489 shares of the electronics maker’s stock worth $434,000 after purchasing an additional 224 shares during the period. 69.80% of the stock is owned by institutional investors.

Insider Activity at Corning

In other news, EVP Lewis A. Steverson sold 16,646 shares of the stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $62.22, for a total transaction of $1,035,714.12. Following the completion of the sale, the executive vice president directly owned 39,759 shares in the company, valued at approximately $2,473,804.98. This represents a 29.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Wendell P. Weeks sold 82,103 shares of the stock in a transaction dated 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 directly 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. Insiders sold a total of 181,671 shares of company stock valued at $11,816,899 in the last quarter. 0.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

GLW has been the subject of several research reports. Citigroup upped their target price on shares of Corning from $72.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Wolfe Research initiated coverage on shares of Corning in a research report on Tuesday, July 8th. They issued an “outperform” rating for the company. Argus reiterated a “buy” rating and issued a $68.00 target price on shares of Corning in a research report on Wednesday, July 30th. Barclays upped their target price on shares of Corning from $52.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. upped their target price on shares of Corning from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Corning Stock Performance

Corning stock opened at $83.00 on Monday. 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 firm has a 50-day moving average of $73.19 and a 200-day moving average of $57.32. The firm 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. Corning Incorporated has a 1-year low of $37.31 and a 1-year high of $87.78.

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 analysts’ consensus estimates 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 net margin of 5.77% and a return on equity of 17.27%. During the same period in the prior year, the business posted $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Sell-side analysts expect that Corning Incorporated will post 2.33 EPS for the current year.

Corning Dividend Announcement

The company also recently announced 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. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, November 14th. Corning’s dividend payout ratio is currently 119.15%.

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.