Oppenheimer Asset Management Inc. Has $35.10 Million Stock Holdings in Corning Incorporated $GLW

Oppenheimer Asset Management Inc. lifted its holdings in shares of Corning Incorporated (NYSE:GLW) by 5.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 667,504 shares of the electronics maker’s stock after buying an additional 34,452 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Corning were worth $35,104,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Prudent Man Advisors LLC boosted its stake in shares of Corning by 13.6% during the 2nd quarter. Prudent Man Advisors LLC now owns 30,841 shares of the electronics maker’s stock worth $1,622,000 after buying an additional 3,694 shares during the last quarter. Brighton Jones LLC raised its holdings in Corning by 128.5% in the 2nd quarter. Brighton Jones LLC now owns 17,567 shares of the electronics maker’s stock valued at $924,000 after acquiring an additional 9,879 shares during the period. Linden Thomas Advisory Services LLC raised its holdings in Corning by 4.3% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 45,267 shares of the electronics maker’s stock valued at $2,381,000 after acquiring an additional 1,859 shares during the period. Kornitzer Capital Management Inc. KS raised its holdings in Corning by 1.6% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 128,488 shares of the electronics maker’s stock valued at $6,757,000 after acquiring an additional 2,065 shares during the period. Finally, Leavell Investment Management Inc. raised its holdings in Corning by 8.5% in the 2nd quarter. Leavell Investment Management Inc. now owns 13,971 shares of the electronics maker’s stock valued at $735,000 after acquiring an additional 1,091 shares during the period. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Lewis A. Steverson sold 16,646 shares of the company’s 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 transaction, the executive vice president 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jaymin Amin sold 17,721 shares of the company’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $77.18, for a total transaction of $1,367,706.78. Following the transaction, the senior vice president owned 88,722 shares in the company, valued at $6,847,563.96. This represents a 16.65% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 181,671 shares of company stock valued at $11,816,899. Corporate insiders own 0.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GLW. Argus reissued a “buy” rating and issued a $68.00 price objective on shares of Corning in a research note on Wednesday, July 30th. Morgan Stanley lifted their price objective on shares of Corning from $56.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, October 10th. Susquehanna reissued a “positive” rating and issued a $75.00 price objective (up from $60.00) on shares of Corning in a research note on Wednesday, July 30th. UBS Group lifted 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, Barclays lifted their price objective on shares of Corning from $52.00 to $65.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Corning Price Performance

Shares of NYSE:GLW opened at $87.46 on Friday. The firm has a market cap of $74.92 billion, a PE ratio of 93.04, a price-to-earnings-growth ratio of 1.95 and a beta of 1.14. The firm’s fifty day moving average is $77.36 and its 200-day moving average is $60.22. 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 Incorporated has a 52 week low of $37.31 and a 52 week high of $87.78.

Corning (NYSE:GLW) last issued its quarterly earnings results on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $3.86 billion for 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 quarter in the previous year, the business earned $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Sell-side analysts predict that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Dividend Announcement

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 issued a dividend of $0.28 per share. The ex-dividend date is Friday, November 14th. This represents a $1.12 annualized dividend and a dividend yield of 1.3%. 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.