Sepio Capital LP Increases Stake in Corning Incorporated $GLW

Sepio Capital LP raised its stake in Corning Incorporated (NYSE:GLW) by 39.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 58,268 shares of the electronics maker’s stock after acquiring an additional 16,581 shares during the period. Sepio Capital LP’s holdings in Corning were worth $3,064,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. REAP Financial Group LLC grew its holdings in Corning by 191.5% in the 2nd quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock worth $27,000 after acquiring an additional 339 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in shares of Corning during the second quarter worth about $38,000. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in shares of Corning by 90.1% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 353 shares during the period. Resources Management Corp CT ADV grew its stake in shares of Corning by 66.7% in the first quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 300 shares during the last quarter. Finally, Gen Wealth Partners Inc increased its holdings in Corning by 151.7% during the 1st quarter. Gen Wealth Partners Inc now owns 755 shares of the electronics maker’s stock valued at $35,000 after purchasing an additional 455 shares during the period. Institutional investors own 69.80% of the company’s stock.

Insider Transactions at Corning

In other news, insider Eric S. Musser sold 100,000 shares of the stock in a transaction 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 sale, the insider directly owned 44,926 shares of the company’s stock, valued at approximately $4,050,977.42. This represents a 69.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Lewis A. Steverson sold 23,142 shares of the firm’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $89.05, for a total value of $2,060,795.10. Following the transaction, the executive vice president owned 17,575 shares of the company’s stock, valued at $1,565,053.75. The trade was a 56.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 173,856 shares of company stock worth $15,456,476. Company insiders own 0.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. increased their price objective on Corning from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Barclays boosted their target price on Corning from $65.00 to $83.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 29th. Citigroup upped 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. Oppenheimer set a $100.00 price target on shares of Corning and gave the company an “outperform” rating in a report on Wednesday, October 29th. Finally, Wall Street Zen downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Saturday, September 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Corning presently has an average rating of “Moderate Buy” and an average target price of $91.64.

Corning Trading Up 0.7%

NYSE GLW opened at $84.16 on Monday. The firm has a market capitalization of $72.15 billion, a PE ratio of 53.26, a P/E/G ratio of 1.99 and a beta of 1.15. The stock’s 50 day moving average is $84.41 and its 200 day moving average is $67.72. Corning Incorporated has a twelve month low of $37.31 and a twelve month high of $92.57. The company has a quick ratio of 0.93, a current ratio of 1.56 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, October 28th. The electronics maker reported $0.67 EPS for the quarter, beating the consensus estimate of $0.66 by $0.01. Corning had a return on equity of 18.12% and a net margin of 9.16%.The business had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same quarter last year, the firm posted $0.54 earnings per share. The company’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. Research analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently announced 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. This represents a $1.12 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, November 14th. Corning’s dividend payout ratio (DPR) is presently 70.89%.

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.