Corning Incorporated $GLW Shares Purchased by River Street Advisors LLC

River Street Advisors LLC increased its holdings in shares of Corning Incorporated (NYSE:GLW) by 77.2% in the second quarter, Holdings Channel reports. The firm owned 33,950 shares of the electronics maker’s stock after buying an additional 14,787 shares during the period. River Street Advisors LLC’s holdings in Corning were worth $1,785,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GLW. Amundi increased its position 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 purchasing an additional 2,507,797 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Corning during the 1st quarter worth about $104,789,000. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Corning during the 2nd quarter worth about $92,560,000. Assenagon Asset Management S.A. grew its position in Corning by 101.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,951,938 shares of the electronics maker’s stock valued at $135,140,000 after acquiring an additional 1,483,151 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in Corning by 185.7% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,801,411 shares of the electronics maker’s stock valued at $94,736,000 after acquiring an additional 1,170,992 shares in the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on GLW. Morgan Stanley set a $56.00 target price on Corning and gave the company an “equal weight” rating in a research report on Wednesday, July 30th. Susquehanna reaffirmed a “positive” rating and issued a $75.00 target price (up from $60.00) on shares of Corning in a research report on Wednesday, July 30th. JPMorgan Chase & Co. lifted their target price on Corning from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, July 25th. Argus reaffirmed a “buy” rating and issued a $68.00 target price on shares of Corning in a research report on Wednesday, July 30th. Finally, Barclays lifted their target price on Corning from $52.00 to $65.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.08.

Insider Buying and Selling at Corning

In other news, SVP Michael Paul O’day sold 14,879 shares of the business’s stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $62.36, for a total transaction of $927,854.44. Following the completion of the transaction, the senior vice president directly owned 35,743 shares of the company’s stock, valued at approximately $2,228,933.48. The trade was a 29.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Wendell P. Weeks sold 82,103 shares of the business’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $65.19, for a total value of $5,352,294.57. Following the transaction, the chief executive officer directly owned 809,295 shares of the company’s stock, valued at approximately $52,757,941.05. This represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 181,671 shares of company stock valued at $11,816,899. 0.40% of the stock is currently owned by company insiders.

Corning Stock Performance

Shares of Corning stock opened at $82.56 on Friday. Corning Incorporated has a one year low of $37.31 and a one year high of $84.35. The company has a market cap of $70.72 billion, a PE ratio of 87.83, a P/E/G ratio of 1.85 and a beta of 1.14. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.50. The business has a 50-day simple moving average of $70.18 and a 200-day simple moving average of $55.66.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, topping 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 business had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.84 billion. During the same period in the previous year, the company posted $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. On average, equities research analysts forecast that Corning Incorporated will post 2.33 EPS for the current fiscal year.

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.