Thames Capital Management LLC Acquires New Shares in Corning Incorporated $GLW

Thames Capital Management LLC acquired a new position in shares of Corning Incorporated (NYSE:GLW) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 8,888 shares of the electronics maker’s stock, valued at approximately $729,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. REAP Financial Group LLC raised its position 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 purchasing an additional 339 shares during the last quarter. Total Investment Management Inc. acquired a new stake in shares of Corning in the second quarter valued at about $28,000. Financial Management Professionals Inc. raised its position in Corning by 111.1% during the third quarter. Financial Management Professionals Inc. now owns 380 shares of the electronics maker’s stock worth $31,000 after acquiring an additional 200 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in Corning in the second quarter valued at approximately $36,000. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of Corning in the second quarter valued at about $38,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insider Buying and Selling

In other news, 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 sale, the executive vice president owned 17,575 shares in the company, valued at approximately $1,565,053.75. This trade represents a 56.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Edward A. Schlesinger sold 20,893 shares of Corning stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $91.25, for a total transaction of $1,906,486.25. Following the completion of the transaction, the chief financial officer owned 66,959 shares of the company’s stock, valued at $6,110,008.75. This trade represents a 23.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 156,135 shares of company stock valued at $14,088,769 over the last three months. Corporate insiders own 0.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on GLW shares. Oppenheimer set a $100.00 target price on Corning and gave the stock an “outperform” rating in a report on Wednesday, October 29th. Zacks Research lowered Corning from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 21st. Mizuho set a $97.00 target price on Corning in a research report on Wednesday, October 29th. Susquehanna increased their target price on Corning from $75.00 to $100.00 and gave the company a “positive” rating in a report on Wednesday, October 29th. Finally, Argus lifted their price objective on Corning from $68.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Corning currently has an average rating of “Moderate Buy” and an average target price of $93.36.

Corning Trading Up 3.6%

NYSE:GLW opened at $93.43 on Friday. The company has a current ratio of 1.56, a quick ratio of 1.00 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 $96.64. The firm has a market cap of $80.10 billion, a PE ratio of 59.13, a price-to-earnings-growth ratio of 1.63 and a beta of 1.13. The stock has a fifty day moving average price of $86.69 and a 200 day moving average price of $76.51.

Corning (NYSE:GLW) last issued its quarterly earnings results 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. The business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.24 billion. Corning had a net margin of 9.16% and a return on equity of 18.12%. The business’s revenue was up 20.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.54 earnings per share. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. Sell-side analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

About Corning

Corning Incorporated is a global manufacturer specializing in specialty glass, ceramics and related materials and technologies. Headquartered in Corning, New York, the company supplies engineered materials and components used across multiple industries, including consumer electronics, telecommunications, automotive emissions control, pharmaceutical and life sciences, and industrial and scientific applications. Corning emphasizes materials science and precision manufacturing to develop durable, high-performance glass and ceramic products.

Key product lines include specialty display glass used by television and mobile-device manufacturers, cover glass marketed under well-known trade names for smartphones and tablets, and optical fiber and cable and related hardware for telecommunications networks.