Park Avenue Securities LLC Makes New $618,000 Investment in Corning Incorporated $GLW

Park Avenue Securities LLC bought a new position in shares of Corning Incorporated (NYSE:GLW) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 11,759 shares of the electronics maker’s stock, valued at approximately $618,000.

Other institutional investors also recently made changes to their positions in the company. Amundi boosted its position in shares of Corning by 64.3% in the 1st quarter. Amundi now owns 6,408,605 shares of the electronics maker’s stock worth $271,237,000 after buying an additional 2,507,797 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Corning in the 1st quarter worth about $104,789,000. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Corning in the 2nd quarter worth about $92,560,000. Assenagon Asset Management S.A. boosted its position in shares of 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 worth $135,140,000 after buying an additional 1,483,151 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Corning by 3,441.4% in the 1st quarter. SG Americas Securities LLC now owns 1,190,359 shares of the electronics maker’s stock worth $54,495,000 after buying an additional 1,156,746 shares in the last quarter. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GLW has been the topic of several recent research reports. Mizuho boosted their price objective on shares of Corning from $63.00 to $74.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Argus reiterated a “buy” rating and issued a $68.00 price objective on shares of Corning in a research report on Wednesday, July 30th. Morgan Stanley set a $56.00 price objective on shares of Corning and gave the stock an “equal weight” rating in a research report on Wednesday, July 30th. Wolfe Research initiated coverage on shares of Corning in a research report on Tuesday, July 8th. They issued an “outperform” rating on the stock. Finally, UBS Group boosted their price objective on shares of Corning from $84.00 to $91.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $70.08.

Insider Activity at Corning

In other news, CEO Wendell P. Weeks sold 82,103 shares of the company’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $65.19, for a total transaction of $5,352,294.57. Following the completion of the transaction, the chief executive officer owned 809,295 shares of the company’s stock, valued at $52,757,941.05. This represents a 9.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Lewis A. Steverson sold 16,646 shares of the company’s stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $62.22, for a total transaction of $1,035,714.12. Following the transaction, the executive vice president directly owned 39,759 shares of the company’s stock, valued at approximately $2,473,804.98. This represents a 29.51% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 181,671 shares of company stock worth $11,816,899. Corporate insiders own 0.32% of the company’s stock.

Corning Trading Up 0.3%

NYSE GLW opened at $79.33 on Monday. Corning Incorporated has a 12 month low of $37.31 and a 12 month high of $81.58. The company has a 50-day moving average of $68.01 and a 200-day moving average of $54.80. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.50 and a quick ratio of 0.93. The company has a market cap of $67.96 billion, a P/E ratio of 84.39, a P/E/G ratio of 1.77 and a beta of 1.09.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. Corning had a net margin of 5.77% and a return on equity of 17.27%. The company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.84 billion. During the same quarter in the prior year, the company posted $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. As a group, equities analysts predict that Corning Incorporated will post 2.33 earnings per share for the current year.

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.