Fairvoy Private Wealth LLC Invests $555,000 in Corning Incorporated $GLW

Fairvoy Private Wealth LLC purchased a new position in Corning Incorporated (NYSE:GLW) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 6,761 shares of the electronics maker’s stock, valued at approximately $555,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Corning in the second quarter worth $534,936,000. Voya Investment Management LLC grew its position in shares of Corning by 748.0% during the third quarter. Voya Investment Management LLC now owns 3,169,741 shares of the electronics maker’s stock worth $260,014,000 after acquiring an additional 2,795,948 shares during the last quarter. Amundi grew its position in shares of Corning by 64.3% during the first 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 during the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Corning in the 2nd quarter worth about $92,560,000. Finally, Raymond James Financial Inc. lifted its position in Corning by 93.0% in the 2nd quarter. Raymond James Financial Inc. now owns 3,407,608 shares of the electronics maker’s stock valued at $179,206,000 after purchasing an additional 1,641,558 shares during the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insider Buying and Selling at Corning

In other news, EVP Lewis A. Steverson sold 23,142 shares of the company’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $89.05, for a total transaction of $2,060,795.10. Following the completion of the sale, the executive vice president directly owned 17,575 shares of the company’s stock, valued at $1,565,053.75. This represents a 56.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Stefan Becker sold 12,100 shares of the company’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $91.28, for a total transaction of $1,104,488.00. Following the sale, the senior vice president directly owned 5,049 shares of the company’s stock, valued at $460,872.72. This represents a 70.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 156,135 shares of company stock valued at $14,088,769 over the last quarter. Company insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on GLW shares. JPMorgan Chase & Co. upped their target price on shares of Corning from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Mizuho set a $97.00 price objective on Corning in a research report on Wednesday, October 29th. Oppenheimer set a $100.00 price objective on Corning and gave the stock an “outperform” rating in a report on Wednesday, October 29th. Citigroup lifted their target price on Corning from $93.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Finally, Barclays increased their price target on Corning from $65.00 to $83.00 and gave the stock an “equal weight” rating 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 three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $93.09.

Corning Stock Performance

Shares of NYSE GLW opened at $87.81 on Friday. Corning Incorporated has a 1 year low of $37.31 and a 1 year high of $96.64. The firm has a market cap of $75.28 billion, a P/E ratio of 55.58, a PEG ratio of 1.90 and a beta of 1.11. The stock has a fifty day moving average price of $85.94 and a two-hundred day moving average price of $71.50. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.56.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.01. Corning had a return on equity of 18.12% and a net margin of 9.16%.The business had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the prior year, the firm posted $0.54 earnings per share. The company’s revenue was up 20.9% on a year-over-year basis. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. Research analysts forecast that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 14th were paid a $0.28 dividend. 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 payout ratio is currently 70.89%.

Corning Company Profile

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.