USA Financial Formulas Purchases Shares of 12,299 Corning Incorporated $GLW

USA Financial Formulas purchased a new position in shares of Corning Incorporated (NYSE:GLW) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 12,299 shares of the electronics maker’s stock, valued at approximately $1,009,000.

Several other institutional investors have also recently modified their holdings of the company. Red Door Wealth Management LLC lifted its position in Corning by 0.8% in the 3rd quarter. Red Door Wealth Management LLC now owns 18,538 shares of the electronics maker’s stock worth $1,521,000 after buying an additional 150 shares during the last quarter. Corsicana & Co. purchased a new position in shares of Corning during the third quarter worth approximately $119,000. Fairvoy Private Wealth LLC bought a new stake in shares of Corning in the 3rd quarter worth approximately $555,000. Perpetual Ltd purchased a new stake in shares of Corning in the 3rd quarter valued at $503,000. Finally, Focus Financial Network Inc. grew its holdings in shares of Corning by 30.1% during the 3rd quarter. Focus Financial Network Inc. now owns 13,939 shares of the electronics maker’s stock valued at $1,143,000 after purchasing an additional 3,224 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GLW has been the subject of several analyst reports. Susquehanna upped their price target on shares of Corning from $75.00 to $100.00 and gave the company a “positive” rating in a research report on Wednesday, October 29th. Citigroup increased their target price on Corning from $93.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. UBS Group restated a “buy” rating and set a $109.00 price target (up from $100.00) on shares of Corning in a research report on Friday, November 21st. JPMorgan Chase & Co. boosted their price objective on Corning from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Finally, Zacks Research cut shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Friday, November 21st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $93.09.

Insider Activity at Corning

In other Corning news, EVP Lewis A. Steverson sold 23,142 shares of Corning stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $89.05, for a total transaction of $2,060,795.10. Following the sale, the executive vice president directly owned 17,575 shares of the company’s stock, valued at approximately $1,565,053.75. The trade was a 56.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Eric S. Musser sold 100,000 shares of the company’s 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 $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. Over the last quarter, insiders sold 156,135 shares of company stock worth $14,088,769. 0.40% of the stock is currently owned by company insiders.

Corning Trading Up 1.1%

NYSE GLW opened at $87.81 on Friday. The stock has a market cap of $75.28 billion, a P/E ratio of 55.58, a price-to-earnings-growth ratio of 1.92 and a beta of 1.11. Corning Incorporated has a fifty-two week low of $37.31 and a fifty-two week high of $96.64. The stock has a 50 day simple moving average of $85.94 and a two-hundred day simple moving average of $71.64. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.56.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, October 28th. The electronics maker reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. Corning had a return on equity of 18.12% and a net margin of 9.16%.The company had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the prior year, the company earned $0.54 earnings per share. The firm’s revenue for the quarter was up 20.9% on a year-over-year basis. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. On average, analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 14th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, November 14th. Corning’s dividend payout ratio (DPR) is currently 70.89%.

Corning Company Profile

Corning Incorporated is a global manufacturer specializing in specialty glass, ceramics and related materials and technologies. Headquartered in Corning, New York, the company supplies engineered materials and components used across multiple industries, including consumer electronics, telecommunications, automotive emissions control, pharmaceutical and life sciences, and industrial and scientific applications. Corning emphasizes materials science and precision manufacturing to develop durable, high-performance glass and ceramic products.

Key product lines include specialty display glass used by television and mobile-device manufacturers, cover glass marketed under well-known trade names for smartphones and tablets, and optical fiber and cable and related hardware for telecommunications networks.