Byrne Asset Management LLC Has $1.22 Million Stock Position in Corning Incorporated $GLW

Byrne Asset Management LLC lifted its stake in Corning Incorporated (NYSE:GLW) by 5.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 23,155 shares of the electronics maker’s stock after purchasing an additional 1,095 shares during the quarter. Byrne Asset Management LLC’s holdings in Corning were worth $1,218,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vermillion Wealth Management Inc. acquired a new position in shares of Corning in the 4th quarter valued at $29,000. Putney Financial Group LLC acquired a new position in shares of Corning in the 4th quarter valued at $30,000. Investment Management Corp VA ADV boosted its position in shares of Corning by 165.9% in the 1st 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 during the period. Annis Gardner Whiting Capital Advisors LLC boosted its position in shares of Corning by 90.1% in the 1st 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 during the period. Finally, Resources Management Corp CT ADV boosted its position in shares of Corning by 66.7% in the 1st 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 during the period. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Stock Performance

Shares of NYSE GLW opened at $77.95 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 1.50 and a debt-to-equity ratio of 0.58. The business’s 50 day moving average is $63.26 and its two-hundred day moving average is $52.71. The company has a market cap of $66.77 billion, a P/E ratio of 82.93, a P/E/G ratio of 1.73 and a beta of 1.09. Corning Incorporated has a 12 month low of $37.31 and a 12 month high of $78.32.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. Corning had a return on equity of 17.27% and a net margin of 5.77%.The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.84 billion. During the same quarter last year, the firm earned $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. On average, equities analysts expect that Corning Incorporated will post 2.33 EPS for the current year.

Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, August 29th. Corning’s dividend payout ratio (DPR) is presently 119.15%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on GLW shares. Wall Street Zen lowered Corning from a “strong-buy” rating to a “hold” rating in a research report on Saturday. JPMorgan Chase & Co. raised their price objective on Corning from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, July 25th. Oppenheimer restated an “outperform” rating and set a $72.00 price objective (up from $55.00) on shares of Corning in a research report on Wednesday, July 30th. Citigroup raised their price objective on Corning from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. Finally, UBS Group upgraded Corning from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $65.00 to $84.00 in a research report on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Corning presently has an average rating of “Moderate Buy” and a consensus target price of $66.75.

Insider Activity at Corning

In other news, CEO Wendell P. Weeks sold 82,103 shares of Corning 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 sale, the chief executive officer owned 809,295 shares of the company’s stock, valued at approximately $52,757,941.05. This trade represents a 9.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lewis A. Steverson sold 16,646 shares of Corning stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $62.22, for a total value of $1,035,714.12. Following the sale, the executive vice president directly owned 39,759 shares in the company, valued at $2,473,804.98. The trade was a 29.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 163,950 shares of company stock worth $10,449,192 in the last three months. Company insiders own 0.40% of the company’s stock.

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.