Corning Incorporated $GLW Shares Bought by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lifted its stake in Corning Incorporated (NYSE:GLW) by 1.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 128,488 shares of the electronics maker’s stock after acquiring an additional 2,065 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Corning were worth $6,757,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. REAP Financial Group LLC lifted its holdings in shares of Corning by 191.5% in the 2nd quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock worth $27,000 after acquiring an additional 339 shares during the last quarter. Investment Management Corp VA ADV lifted its holdings in shares of Corning by 165.9% in the 1st quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker’s stock worth $34,000 after acquiring an additional 463 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in shares of Corning by 90.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker’s stock worth $34,000 after acquiring an additional 353 shares during the last quarter. Resources Management Corp CT ADV lifted its holdings in shares of Corning by 66.7% in the 1st quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker’s stock worth $34,000 after acquiring an additional 300 shares during the last quarter. Finally, Gen Wealth Partners Inc lifted its holdings in shares of Corning by 151.7% in the 1st quarter. Gen Wealth Partners Inc now owns 755 shares of the electronics maker’s stock worth $35,000 after acquiring an additional 455 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Trading Up 1.9%

Shares of NYSE:GLW opened at $87.46 on Friday. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $87.78. The company’s 50 day moving average is $77.36 and its two-hundred day moving average is $60.22. 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 cap of $74.92 billion, a PE ratio of 93.04, a P/E/G ratio of 1.95 and a beta of 1.14.

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

Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 14th will be given a $0.28 dividend. The ex-dividend date of this dividend 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%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Mizuho upped their price objective on shares of Corning from $74.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, October 3rd. Oppenheimer restated an “outperform” rating and issued a $72.00 price objective (up from $55.00) on shares of Corning in a report on Wednesday, July 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Corning in a research note on Friday. Wall Street Zen downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Saturday, September 13th. Finally, UBS Group upped their target price on shares of Corning from $84.00 to $91.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. One investment 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Insider Buying and Selling

In other Corning news, SVP Jaymin Amin sold 17,721 shares of the 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 sale, the senior vice president directly owned 88,722 shares of the company’s stock, valued at approximately $6,847,563.96. This represents a 16.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Lewis A. Steverson sold 16,646 shares of the stock in a transaction on 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 transaction, the executive vice president directly owned 39,759 shares in the company, valued at $2,473,804.98. This trade represents a 29.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 181,671 shares of company stock worth $11,816,899. Corporate insiders own 0.40% of the company’s stock.

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.