Corning Incorporated $GLW Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC boosted its stake in shares of Corning Incorporated (NYSE:GLW) by 23.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 13,991 shares of the electronics maker’s stock after purchasing an additional 2,633 shares during the quarter. GAMMA Investing LLC’s holdings in Corning were worth $736,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in 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. Bank of New York Mellon Corp lifted its position in Corning by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 6,347,977 shares of the electronics maker’s stock valued at $290,610,000 after buying an additional 80,872 shares during the last quarter. Invesco Ltd. lifted its position in Corning by 4.8% in the first quarter. Invesco Ltd. now owns 6,337,063 shares of the electronics maker’s stock valued at $290,111,000 after buying an additional 288,328 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Corning by 10.6% in the first 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 buying an additional 558,184 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in Corning by 37.1% in the first quarter. Deutsche Bank AG now owns 3,835,799 shares of the electronics maker’s stock valued at $175,603,000 after buying an additional 1,037,875 shares during the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Price Performance

GLW opened at $79.95 on Thursday. The stock’s 50-day moving average price is $67.00 and its 200 day moving average price is $54.20. Corning Incorporated has a 12-month low of $37.31 and a 12-month high of $81.59. The company has a current ratio of 1.50, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. The firm has a market cap of $68.49 billion, a price-to-earnings ratio of 85.05, a PEG ratio of 1.81 and a beta of 1.09.

Corning (NYSE:GLW) last posted its quarterly earnings results 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. The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.84 billion. Corning had a return on equity of 17.27% and a net margin of 5.77%.During the same quarter last year, the company earned $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. As a group, sell-side analysts expect that Corning Incorporated will post 2.33 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have commented on GLW shares. Wall Street Zen cut shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Saturday, September 13th. Argus reaffirmed a “buy” rating and issued a $68.00 target price on shares of Corning in a research report on Wednesday, July 30th. Barclays upped their target price on shares of Corning from $52.00 to $65.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 30th. Mizuho increased their target price on Corning from $63.00 to $74.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Finally, Morgan Stanley set a $56.00 target price on Corning and gave the stock an “equal weight” rating in a research note on Wednesday, July 30th. One equities research 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 company. According to data from MarketBeat, Corning presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.08.

Insider Buying and Selling

In other Corning news, EVP Lewis A. Steverson sold 16,646 shares of the stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $62.22, for a total value of $1,035,714.12. Following the sale, the executive vice president owned 39,759 shares of the company’s stock, valued at $2,473,804.98. This trade represents a 29.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Wendell P. Weeks sold 82,103 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $65.19, for a total value of $5,352,294.57. Following the completion of the sale, the chief executive officer directly owned 809,295 shares in the company, valued at $52,757,941.05. This represents a 9.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 181,671 shares of company stock worth $11,816,899 over the last ninety days. Company 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.