Veracity Capital LLC Takes Position in Corning Incorporated $GLW

Veracity Capital LLC purchased a new position in Corning Incorporated (NYSE:GLW) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 7,701 shares of the electronics maker’s stock, valued at approximately $632,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Beacon Financial Group purchased a new stake in shares of Corning in the 3rd quarter worth about $267,000. Cooper Financial Group raised its stake in Corning by 41.2% in the third quarter. Cooper Financial Group now owns 10,331 shares of the electronics maker’s stock worth $847,000 after buying an additional 3,014 shares in the last quarter. Silverberg Bernstein Capital Management LLC raised its stake in Corning by 10.5% in the third quarter. Silverberg Bernstein Capital Management LLC now owns 13,690 shares of the electronics maker’s stock worth $1,123,000 after buying an additional 1,300 shares in the last quarter. Canandaigua National Bank & Trust Co. boosted its position in Corning by 2.0% during the 3rd quarter. Canandaigua National Bank & Trust Co. now owns 19,489 shares of the electronics maker’s stock valued at $1,599,000 after acquiring an additional 384 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Corning by 125.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,683,497 shares of the electronics maker’s stock worth $220,127,000 after acquiring an additional 1,495,277 shares during the period. 69.80% of the stock is owned by hedge funds and other institutional investors.

Corning Price Performance

Shares of NYSE:GLW opened at $85.49 on Thursday. The business has a fifty day moving average price of $85.85 and a 200-day moving average price of $71.13. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.56 and a quick ratio of 1.00. The company has a market capitalization of $73.30 billion, a PE ratio of 54.11, a PEG ratio of 1.89 and a beta of 1.11. Corning Incorporated has a 1-year low of $37.31 and a 1-year high of $96.64.

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. The company had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.24 billion. Corning had a net margin of 9.16% and a return on equity of 18.12%. Corning’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.54 EPS. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. As a group, equities analysts expect that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Friday, November 14th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.12 annualized dividend and a dividend yield of 1.3%. Corning’s dividend payout ratio (DPR) is 70.89%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GLW. Oppenheimer set a $100.00 target price on Corning and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Argus boosted their target price on shares of Corning from $68.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corning in a research report on Monday. Zacks Research lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 21st. Finally, Citigroup boosted their price objective on shares of Corning from $93.00 to $99.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $93.09.

Insider Activity

In related news, insider Eric S. Musser sold 100,000 shares of the company’s stock in a transaction that occurred 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 transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Stefan Becker sold 12,100 shares of the stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $91.28, for a total value of $1,104,488.00. Following the sale, the senior vice president owned 5,049 shares in the company, valued at approximately $460,872.72. This represents a 70.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 156,135 shares of company stock valued at $14,088,769 in the last quarter. Insiders own 0.40% of the company’s stock.

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.