Corton Capital Inc. Invests $218,000 in Corning Incorporated $GLW

Corton Capital Inc. purchased a new stake in shares of Corning Incorporated (NYSE:GLW) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,149 shares of the electronics maker’s stock, valued at approximately $218,000.

Other hedge funds have also recently bought and sold shares of the company. REAP Financial Group LLC grew its stake in Corning by 191.5% in the second quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock valued at $27,000 after purchasing an additional 339 shares in the last quarter. Investment Management Corp VA ADV grew its stake in Corning by 165.9% in the first quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 463 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its stake in Corning by 90.1% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 353 shares in the last quarter. Banque Transatlantique SA bought a new position in Corning in the first quarter valued at approximately $34,000. Finally, Resources Management Corp CT ADV grew its stake in Corning by 66.7% in the first quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 300 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors.

Insider Activity at Corning

In other news, CEO Wendell P. Weeks sold 82,103 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer owned 809,295 shares in the company, valued at approximately $52,757,941.05. This trade represents a 9.21% 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, insider Eric S. Musser sold 100,000 shares of the stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $90.17, for a total value of $9,017,000.00. Following the transaction, the insider owned 44,926 shares in the company, valued at approximately $4,050,977.42. This trade represents a 69.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 255,959 shares of company stock valued at $20,808,771 in the last 90 days. Corporate insiders own 0.40% of the company’s stock.

Corning Price Performance

NYSE:GLW opened at $87.43 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 1.56 and a debt-to-equity ratio of 0.62. The stock’s 50 day moving average price is $80.18 and its two-hundred day moving average price is $62.46. The firm has a market capitalization of $74.89 billion, a price-to-earnings ratio of 55.34, a P/E/G ratio of 1.99 and a beta of 1.14. Corning Incorporated has a 12-month low of $37.31 and a 12-month high of $92.57.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 18.12% and a net margin of 9.16%.The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.54 earnings per share. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. On average, analysts anticipate that Corning Incorporated will post 2.33 earnings per share 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 paid a dividend of $0.28 per share. The ex-dividend date 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 (DPR) is 70.89%.

Wall Street Analysts Forecast Growth

GLW has been the subject of a number of analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of Corning in a research note on Wednesday, October 8th. Wall Street Zen downgraded Corning from a “strong-buy” rating to a “hold” rating in a research note on Saturday, September 13th. Argus upped their price objective on Corning from $68.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Morgan Stanley set a $82.00 price objective on Corning in a research note on Wednesday, October 29th. Finally, Oppenheimer set a $100.00 price objective on Corning and gave the company an “outperform” rating in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $90.82.

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.