Corning Incorporated $GLW Shares Acquired by Fred Alger Management LLC

Fred Alger Management LLC increased its holdings in shares of Corning Incorporated (NYSE:GLW) by 4.1% during the 1st quarter, Holdings Channel.com reports. The fund owned 78,102 shares of the electronics maker’s stock after buying an additional 3,086 shares during the period. Fred Alger Management LLC’s holdings in Corning were worth $3,576,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Leigh Baldwin & CO. LLC grew 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 valued at $573,000 after buying an additional 210 shares in the last quarter. University of Texas Texas AM Investment Management Co. boosted its stake in Corning by 9.7% in the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 2,422 shares of the electronics maker’s stock valued at $115,000 after acquiring an additional 214 shares during the last quarter. Harbour Investments Inc. increased its position in shares of Corning by 2.4% in the 1st quarter. Harbour Investments Inc. now owns 9,489 shares of the electronics maker’s stock valued at $434,000 after buying an additional 224 shares in the last quarter. Old North State Wealth Management LLC lifted its holdings in shares of Corning by 0.6% in the first quarter. Old North State Wealth Management LLC now owns 40,107 shares of the electronics maker’s stock valued at $1,836,000 after purchasing an additional 239 shares in the last quarter. Finally, Plancorp LLC boosted its position in Corning by 2.7% during the first quarter. Plancorp LLC now owns 9,191 shares of the electronics maker’s stock valued at $421,000 after purchasing an additional 241 shares during the last quarter. Institutional investors own 69.80% of the company’s stock.

Corning Price Performance

Shares of NYSE:GLW opened at $72.36 on Wednesday. Corning Incorporated has a 1-year low of $37.31 and a 1-year high of $72.94. The stock has a market cap of $61.98 billion, a PE ratio of 76.98, a price-to-earnings-growth ratio of 1.62 and a beta of 1.09. The stock’s fifty day simple moving average is $61.38 and its two-hundred day simple moving average is $51.96. 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. Corning had a return on equity of 17.27% and a net margin of 5.77%.The firm had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.84 billion. During the same quarter in the prior year, the company earned $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. As a group, analysts forecast that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.12 dividend on an annualized basis and a yield of 1.5%. Corning’s dividend payout ratio is 119.15%.

Insider Buying and Selling

In other Corning news, COO Avery H. Nelson III sold 36,240 shares of the firm’s stock in a transaction dated 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 owned 64,838 shares of the company’s stock, valued at $4,036,813.88. This trade represents a 35.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Lewis A. Steverson sold 16,646 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $62.22, for a total transaction of $1,035,714.12. Following the completion of the sale, the executive vice president directly owned 39,759 shares in the company, valued at $2,473,804.98. This represents a 29.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 163,950 shares of company stock valued at $10,449,192 in the last three months. Insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GLW. JPMorgan Chase & Co. boosted their target price on shares of Corning from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, July 25th. Susquehanna reaffirmed a “positive” rating and issued a $75.00 price objective (up from $60.00) on shares of Corning in a research note on Wednesday, July 30th. Morgan Stanley set a $56.00 target price on shares of Corning and gave the stock an “equal weight” rating in a research note on Wednesday, July 30th. Wolfe Research initiated coverage on Corning in a research note on Tuesday, July 8th. They issued an “outperform” rating for the company. Finally, Mizuho increased their price objective on Corning from $63.00 to $74.00 and gave the company an “outperform” rating in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Corning has an average rating of “Moderate Buy” and a consensus price target of $66.75.

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.