Y Intercept Hong Kong Ltd Has $3.71 Million Stake in Corning Incorporated $GLW

Y Intercept Hong Kong Ltd increased its stake in shares of Corning Incorporated (NYSE:GLW) by 46.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,589 shares of the electronics maker’s stock after acquiring an additional 22,450 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Corning were worth $3,712,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Davis Investment Partners LLC acquired a new stake in shares of Corning during the second quarter worth $251,000. Central Pacific Bank Trust Division increased its stake in Corning by 23.6% in the 2nd quarter. Central Pacific Bank Trust Division now owns 72,982 shares of the electronics maker’s stock valued at $3,838,000 after buying an additional 13,920 shares during the last quarter. Strs Ohio acquired a new stake in Corning in the 1st quarter valued at $27,219,000. Acadian Asset Management LLC increased its stake in Corning by 4,346.5% in the 1st quarter. Acadian Asset Management LLC now owns 153,984 shares of the electronics maker’s stock valued at $7,048,000 after buying an additional 150,521 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake in Corning by 8.0% in the 2nd quarter. Nordea Investment Management AB now owns 70,651 shares of the electronics maker’s stock valued at $3,731,000 after buying an additional 5,227 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GLW has been the topic of several recent research reports. Morgan Stanley set a $82.00 price target on shares of Corning in a research note on Wednesday. Oppenheimer set a $100.00 price target on shares of Corning and gave the company an “outperform” rating in a research note on Wednesday. UBS Group lifted their price target on shares of Corning from $91.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday. Wolfe Research began coverage on shares of Corning in a research note on Tuesday, July 8th. They issued an “outperform” rating on the stock. Finally, Citigroup boosted their price objective on shares of Corning from $93.00 to $99.00 and gave the stock a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Corning has an average rating of “Moderate Buy” and an average target price of $90.82.

Corning Stock Up 4.5%

Corning stock opened at $90.31 on Thursday. The firm has a market capitalization of $77.36 billion, a PE ratio of 57.16, a P/E/G ratio of 1.93 and a beta of 1.14. The company’s 50-day moving average is $78.79 and its 200-day moving average is $61.32. Corning Incorporated has a fifty-two week low of $37.31 and a fifty-two week high of $91.93. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.56 and a quick ratio of 0.93.

Corning (NYSE:GLW) last released its quarterly earnings data on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.01. The company had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.24 billion. Corning had a net margin of 9.16% and a return on equity of 18.12%. Corning’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.54 EPS. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. Sell-side analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 14th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.12 annualized dividend and a dividend yield of 1.2%. Corning’s payout ratio is presently 119.15%.

Insider Activity

In related news, SVP Jaymin Amin sold 17,721 shares of Corning 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 completion of the sale, the senior vice president owned 88,722 shares of the company’s stock, valued at approximately $6,847,563.96. The trade was a 16.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Wendell P. Weeks sold 82,103 shares of Corning 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 sale, the chief executive officer directly owned 809,295 shares of the company’s stock, valued at $52,757,941.05. The trade was a 9.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.40% of the company’s stock.

Corning Company 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.