Nemes Rush Group LLC Increases Stock Position in Corning Incorporated $GLW

Nemes Rush Group LLC grew its position in shares of Corning Incorporated (NYSE:GLW) by 18.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,421 shares of the electronics maker’s stock after purchasing an additional 1,297 shares during the period. Nemes Rush Group LLC’s holdings in Corning were worth $443,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in GLW. Vanguard Group Inc. boosted its stake in Corning by 1.6% during the second quarter. Vanguard Group Inc. now owns 97,952,109 shares of the electronics maker’s stock valued at $5,151,301,000 after buying an additional 1,582,895 shares during the last quarter. Geode Capital Management LLC increased its stake in Corning by 0.6% in the 2nd quarter. Geode Capital Management LLC now owns 19,443,525 shares of the electronics maker’s stock worth $1,018,629,000 after acquiring an additional 112,739 shares during the last quarter. Amundi raised its holdings in shares of Corning by 64.3% during the 1st quarter. Amundi now owns 6,408,605 shares of the electronics maker’s stock worth $271,237,000 after acquiring an additional 2,507,797 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Corning by 4.8% during the 1st quarter. Invesco Ltd. now owns 6,337,063 shares of the electronics maker’s stock worth $290,111,000 after acquiring an additional 288,328 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Corning by 10.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,844,174 shares of the electronics maker’s stock valued at $267,546,000 after acquiring an additional 558,184 shares during the last quarter. 69.80% of the stock is owned by institutional investors.

Insider Activity at Corning

In other Corning news, CFO Edward A. Schlesinger sold 20,893 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $91.25, for a total value of $1,906,486.25. Following the transaction, the chief financial officer directly owned 66,959 shares in the company, valued at $6,110,008.75. This represents a 23.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jaymin Amin sold 17,721 shares of the firm’s 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 transaction, the senior vice president directly owned 88,722 shares in the company, valued at approximately $6,847,563.96. This trade represents a 16.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 173,856 shares of company stock worth $15,456,476 over the last ninety days. 0.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on GLW shares. Susquehanna boosted their price target on shares of Corning from $75.00 to $100.00 and gave the stock a “positive” rating in a research report on Wednesday, October 29th. Morgan Stanley set a $82.00 price objective on shares of Corning in a research note on Wednesday, October 29th. Barclays upped their target price on shares of Corning from $65.00 to $83.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 29th. JPMorgan Chase & Co. lifted their price target on Corning from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Finally, Mizuho set a $97.00 price objective on Corning in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $91.64.

Corning Price Performance

Corning stock opened at $79.37 on Monday. Corning Incorporated has a 12-month low of $37.31 and a 12-month high of $92.57. The company has a current ratio of 1.56, a quick ratio of 0.93 and a debt-to-equity ratio of 0.62. The firm has a 50-day moving average price of $83.93 and a 200-day moving average price of $66.41. The firm has a market capitalization of $68.05 billion, a PE ratio of 50.23, a price-to-earnings-growth ratio of 1.99 and a beta of 1.15.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The company 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 firm’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.54 EPS. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. As a group, equities research analysts forecast that Corning Incorporated will post 2.33 EPS for the current year.

Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 14th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, November 14th. Corning’s dividend payout ratio (DPR) is currently 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.