Prudent Man Advisors LLC Buys 3,694 Shares of Corning Incorporated $GLW

Prudent Man Advisors LLC grew its stake in shares of Corning Incorporated (NYSE:GLW) by 13.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 30,841 shares of the electronics maker’s stock after buying an additional 3,694 shares during the quarter. Prudent Man Advisors LLC’s holdings in Corning were worth $1,622,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Forte Capital LLC ADV lifted its holdings in shares of Corning by 2.4% during the second quarter. Forte Capital LLC ADV now owns 7,973 shares of the electronics maker’s stock worth $419,000 after purchasing an additional 190 shares during the period. Smith Salley Wealth Management lifted its holdings in shares of Corning by 3.3% during the second quarter. Smith Salley Wealth Management now owns 6,280 shares of the electronics maker’s stock worth $330,000 after purchasing an additional 200 shares during the period. Leigh Baldwin & CO. LLC lifted its holdings in shares of Corning by 1.7% during the first quarter. Leigh Baldwin & CO. LLC now owns 12,513 shares of the electronics maker’s stock worth $573,000 after purchasing an additional 210 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Corning by 1.3% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 16,623 shares of the electronics maker’s stock worth $874,000 after purchasing an additional 214 shares during the period. Finally, Old North State Wealth Management LLC lifted its holdings in shares of Corning by 0.5% during the second quarter. Old North State Wealth Management LLC now owns 40,325 shares of the electronics maker’s stock worth $2,121,000 after purchasing an additional 218 shares during the period. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Price Performance

Shares of NYSE GLW opened at $87.46 on Friday. The firm’s 50-day moving average price is $77.36 and its 200-day moving average price is $60.22. Corning Incorporated has a 1-year low of $37.31 and a 1-year high of $87.78. The firm has a market capitalization of $74.92 billion, a P/E ratio of 93.04, a P/E/G ratio of 1.95 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.

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, beating the consensus estimate of $0.57 by $0.03. Corning had a net margin of 5.77% and a return on equity of 17.27%. The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.84 billion. During the same quarter in the prior year, the business earned $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Equities research analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 14th will be issued a dividend of $0.28 per share. The ex-dividend date is Friday, November 14th. This represents a $1.12 annualized dividend and a dividend yield of 1.3%. Corning’s dividend payout ratio is currently 119.15%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Morgan Stanley lifted their price target on shares of Corning from $56.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, October 10th. Wolfe Research began coverage on shares of Corning in a report on Tuesday, July 8th. They set an “outperform” rating on the stock. Wall Street Zen lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Saturday, September 13th. Citigroup boosted their target price on shares of Corning from $72.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Finally, Susquehanna restated a “positive” rating and issued a $75.00 target price (up previously from $60.00) on shares of Corning in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Insider Activity

In other news, SVP Jaymin Amin sold 17,721 shares of the company’s 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 transaction, the senior vice president owned 88,722 shares in the company, valued at approximately $6,847,563.96. This represents a 16.65% 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, EVP Lewis A. Steverson sold 16,646 shares of the business’s stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $62.22, for a total transaction of $1,035,714.12. Following the sale, the executive vice president directly owned 39,759 shares of the company’s stock, valued at approximately $2,473,804.98. The trade was a 29.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 181,671 shares of company stock valued at $11,816,899. Corporate insiders own 0.40% of the company’s stock.

Corning 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.