Cobblestone Capital Advisors LLC NY Raises Holdings in Corning Incorporated $GLW

Cobblestone Capital Advisors LLC NY boosted its stake in shares of Corning Incorporated (NYSE:GLW) by 22.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,338 shares of the electronics maker’s stock after purchasing an additional 7,262 shares during the quarter. Cobblestone Capital Advisors LLC NY’s holdings in Corning were worth $2,121,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in Corning during the 2nd quarter worth about $233,000. Delta Investment Management LLC increased its holdings in shares of Corning by 7.9% in the 2nd quarter. Delta Investment Management LLC now owns 13,412 shares of the electronics maker’s stock valued at $705,000 after acquiring an additional 978 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Corning by 7.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,381,170 shares of the electronics maker’s stock valued at $72,636,000 after acquiring an additional 97,087 shares during the last quarter. Wealthfront Advisers LLC increased its holdings in shares of Corning by 61.8% in the 2nd quarter. Wealthfront Advisers LLC now owns 49,785 shares of the electronics maker’s stock valued at $2,618,000 after acquiring an additional 19,024 shares during the last quarter. Finally, New Hampshire Trust increased its holdings in shares of Corning by 6.9% in the 2nd quarter. New Hampshire Trust now owns 7,128 shares of the electronics maker’s stock valued at $375,000 after acquiring an additional 462 shares during the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Insider Activity at Corning

In other Corning news, SVP Jaymin Amin sold 17,721 shares of the stock in a transaction that occurred on Wednesday, September 17th. The stock was 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 directly owned 88,722 shares of the company’s stock, valued at approximately $6,847,563.96. This trade represents a 16.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Avery H. Nelson III sold 36,240 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $62.26, for a total value of $2,256,302.40. Following the sale, the chief operating officer directly owned 64,838 shares of the company’s stock, valued at $4,036,813.88. The trade was a 35.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 181,671 shares of company stock worth $11,816,899 in the last ninety days. Company insiders own 0.32% of the company’s stock.

Corning Stock Up 1.9%

Shares of NYSE GLW opened at $87.46 on Monday. The stock has a market cap of $74.92 billion, a PE ratio of 93.04, a price-to-earnings-growth ratio of 1.95 and a beta of 1.14. The company has a quick ratio of 0.93, a current ratio of 1.50 and a debt-to-equity ratio of 0.58. Corning Incorporated has a 52-week low of $37.31 and a 52-week high of $87.78. The business has a 50-day moving average price of $77.36 and a 200 day moving average price of $60.33.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.84 billion. Corning had a return on equity of 17.27% and a net margin of 5.77%.During the same period in the prior year, the firm earned $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Equities research analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 14th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, November 14th. Corning’s dividend payout ratio (DPR) is presently 119.15%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GLW shares. Morgan Stanley increased their price objective on Corning from $56.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, October 10th. Barclays increased their price objective on Corning from $52.00 to $65.00 and gave the company an “equal weight” rating in a report on Wednesday, July 30th. Wolfe Research started coverage on Corning in a report on Tuesday, July 8th. They issued an “outperform” rating on the stock. UBS Group increased their price objective on Corning from $84.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. Finally, Wall Street Zen downgraded Corning from a “strong-buy” rating to a “hold” rating in a report on Saturday, September 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $73.00.

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.