Assetmark Inc. Has $366,000 Position in Corning Incorporated $GLW

Assetmark Inc. raised its stake in Corning Incorporated (NYSE:GLW) by 465.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,964 shares of the electronics maker’s stock after buying an additional 5,733 shares during the period. Assetmark Inc.’s holdings in Corning were worth $366,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Amundi raised its holdings in 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 position in Corning in the first quarter valued at $104,789,000. Kingstone Capital Partners Texas LLC bought a new stake in Corning during the second quarter valued at $92,560,000. Robeco Institutional Asset Management B.V. grew its holdings in Corning by 185.7% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,801,411 shares of the electronics maker’s stock worth $94,736,000 after acquiring an additional 1,170,992 shares during the period. Finally, Deutsche Bank AG boosted its position in shares of Corning by 37.1% during the 1st quarter. Deutsche Bank AG now owns 3,835,799 shares of the electronics maker’s stock valued at $175,603,000 after purchasing an additional 1,037,875 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Citigroup lifted their price objective on shares of Corning from $93.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. UBS Group upped their price objective on shares of Corning from $91.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Corning in a research report on Wednesday, October 8th. JPMorgan Chase & Co. upped their price target on Corning from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Finally, Morgan Stanley set a $82.00 price target on shares of Corning in a research report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $90.82.

Corning Stock Performance

GLW stock opened at $85.40 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.56 and a debt-to-equity ratio of 0.62. The firm has a market cap of $73.22 billion, a PE ratio of 54.05, a P/E/G ratio of 1.99 and a beta of 1.15. The business has a 50 day moving average of $81.68 and a 200-day moving average of $63.42. Corning Incorporated has a 12-month low of $37.31 and a 12-month high of $92.57.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.01. The business had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $4.24 billion. Corning had a return on equity of 18.12% and a net margin of 9.16%.The business’s revenue was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.54 earnings per share. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. As a group, sell-side analysts expect that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 14th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, November 14th. Corning’s dividend payout ratio is currently 70.89%.

Insider Activity

In other news, insider Eric S. Musser sold 100,000 shares of the stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $90.17, for a total transaction of $9,017,000.00. Following the completion of the transaction, the insider owned 44,926 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Stefan Becker sold 12,100 shares of the business’s stock in a transaction on 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 in the company, valued at $460,872.72. The trade was a 70.56% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 173,856 shares of company stock worth $15,456,476. 0.40% of the stock is owned by company insiders.

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.