Empower Advisory Group LLC Acquires 22,342 Shares of Corning Incorporated $GLW

Empower Advisory Group LLC raised its stake in shares of Corning Incorporated (NYSE:GLW) by 114.6% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 41,843 shares of the electronics maker’s stock after acquiring an additional 22,342 shares during the period. Empower Advisory Group LLC’s holdings in Corning were worth $2,201,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Brighton Jones LLC boosted its holdings in Corning by 46.0% in the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock worth $319,000 after purchasing an additional 2,114 shares during the last quarter. CWM LLC lifted its holdings in shares of Corning by 18.0% during the 1st quarter. CWM LLC now owns 30,012 shares of the electronics maker’s stock valued at $1,374,000 after buying an additional 4,578 shares during the period. Bailard Inc. lifted its holdings in shares of Corning by 7.0% during the 1st quarter. Bailard Inc. now owns 5,316 shares of the electronics maker’s stock valued at $243,000 after buying an additional 346 shares during the period. Kingsview Wealth Management LLC boosted its stake in shares of Corning by 27.2% in the 1st quarter. Kingsview Wealth Management LLC now owns 19,428 shares of the electronics maker’s stock worth $889,000 after buying an additional 4,150 shares during the last quarter. Finally, Retirement Planning Co of New England Inc. bought a new stake in shares of Corning in the first quarter worth $729,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on GLW. Morgan Stanley set a $82.00 target price on Corning in a report on Wednesday, October 29th. Citigroup upped their price target on shares of Corning from $93.00 to $99.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Argus raised their price objective on shares of Corning from $68.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Mizuho set a $97.00 target price on shares of Corning in a research report on Wednesday, October 29th. Finally, UBS Group increased their price target on shares of Corning from $91.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. One investment 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 company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $90.82.

Corning Price Performance

NYSE GLW opened at $81.83 on Friday. The company has a current ratio of 1.56, a quick ratio of 0.93 and a debt-to-equity ratio of 0.62. Corning Incorporated has a 12 month low of $37.31 and a 12 month high of $92.57. The stock has a market cap of $70.16 billion, a price-to-earnings ratio of 51.79, a PEG ratio of 1.99 and a beta of 1.15. The company’s 50 day moving average is $83.36 and its two-hundred day moving average is $65.04.

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

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 14th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, November 14th. Corning’s dividend payout ratio is presently 70.89%.

Insider Buying and Selling at Corning

In other news, EVP Lewis A. Steverson sold 23,142 shares of the business’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $89.05, for a total value of $2,060,795.10. Following the transaction, the executive vice president directly owned 17,575 shares in the company, valued at $1,565,053.75. The trade was a 56.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Eric S. Musser sold 100,000 shares of the stock in a transaction dated 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 sale, the insider owned 44,926 shares of the company’s stock, valued at $4,050,977.42. This represents a 69.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 173,856 shares of company stock valued at $15,456,476. 0.40% of the stock is currently owned by corporate insiders.

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.