Transcend Capital Advisors LLC Grows Stake in Corning Incorporated $GLW

Transcend Capital Advisors LLC grew its stake in shares of Corning Incorporated (NYSE:GLW) by 3.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,096 shares of the electronics maker’s stock after buying an additional 376 shares during the period. Transcend Capital Advisors LLC’s holdings in Corning were worth $584,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Amundi increased its position in Corning by 64.3% during the first quarter. Amundi now owns 6,408,605 shares of the electronics maker’s stock worth $271,237,000 after buying an additional 2,507,797 shares in the last quarter. Bank of New York Mellon Corp increased its position in Corning by 1.3% during the first quarter. Bank of New York Mellon Corp now owns 6,347,977 shares of the electronics maker’s stock worth $290,610,000 after buying an additional 80,872 shares in the last quarter. Invesco Ltd. increased its position in Corning by 4.8% during the first quarter. Invesco Ltd. now owns 6,337,063 shares of the electronics maker’s stock worth $290,111,000 after buying an additional 288,328 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Corning by 10.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,844,174 shares of the electronics maker’s stock worth $267,546,000 after buying an additional 558,184 shares in the last quarter. Finally, Deutsche Bank AG increased its position in Corning by 37.1% during the first quarter. Deutsche Bank AG now owns 3,835,799 shares of the electronics maker’s stock worth $175,603,000 after buying an additional 1,037,875 shares in the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GLW. Citigroup raised their price objective on Corning from $72.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Morgan Stanley raised their price objective on Corning from $56.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, October 10th. Weiss Ratings restated a “hold (c+)” rating on shares of Corning in a report on Wednesday, October 8th. Argus restated a “buy” rating and set a $68.00 price objective on shares of Corning in a report on Wednesday, July 30th. Finally, Barclays raised their price objective on Corning from $52.00 to $65.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $73.00.

Insider Transactions at Corning

In other Corning news, SVP Jaymin Amin sold 17,721 shares of the business’s stock in a transaction dated Wednesday, September 17th. The stock was 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. The trade was a 16.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Wendell P. Weeks sold 82,103 shares of the business’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $65.19, for a total value of $5,352,294.57. Following the transaction, the chief executive officer owned 809,295 shares in the company, valued at approximately $52,757,941.05. This represents a 9.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.32% of the company’s stock.

Corning Price Performance

Shares of Corning stock opened at $86.53 on Wednesday. Corning Incorporated has a twelve month low of $37.31 and a twelve month high of $89.77. The stock has a market capitalization of $74.12 billion, a P/E ratio of 92.05, a PEG ratio of 2.00 and a beta of 1.14. 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 business’s fifty day moving average price is $78.28 and its 200 day moving average price is $60.97.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. Corning had a return on equity of 17.27% and a net margin of 5.77%.The firm had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter last year, the firm earned $0.54 earnings per share. The firm’s revenue for the quarter was up 20.9% compared to the same quarter last year. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. As a group, research analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Announces Dividend

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

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.