Ardsley Advisory Partners LP Buys 12,000 Shares of Corning Incorporated $GLW

Ardsley Advisory Partners LP grew its stake in Corning Incorporated (NYSE:GLW) by 8.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 152,000 shares of the electronics maker’s stock after purchasing an additional 12,000 shares during the quarter. Corning makes up about 1.1% of Ardsley Advisory Partners LP’s holdings, making the stock its 27th largest position. Ardsley Advisory Partners LP’s holdings in Corning were worth $7,994,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of GLW. NewEdge Advisors LLC raised its position in Corning by 25.4% in the 2nd quarter. NewEdge Advisors LLC now owns 124,585 shares of the electronics maker’s stock valued at $6,552,000 after buying an additional 25,269 shares during the last quarter. BCS Private Wealth Management Inc. purchased a new position in Corning during the 2nd quarter worth $367,000. Lombard Odier Asset Management Switzerland SA grew its stake in shares of Corning by 38.5% in the 2nd quarter. Lombard Odier Asset Management Switzerland SA now owns 16,864 shares of the electronics maker’s stock worth $887,000 after acquiring an additional 4,688 shares in the last quarter. State Street Corp raised its holdings in shares of Corning by 1.4% in the second quarter. State Street Corp now owns 36,568,973 shares of the electronics maker’s stock valued at $1,923,162,000 after purchasing an additional 509,013 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of Corning by 4.3% during the second quarter. Daiwa Securities Group Inc. now owns 118,947 shares of the electronics maker’s stock valued at $6,255,000 after purchasing an additional 4,884 shares in the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Corning Trading Up 3.2%

Shares of Corning stock opened at $91.09 on Wednesday. The company’s 50-day moving average price is $85.22 and its 200-day moving average price is $69.58. The company has a current ratio of 1.56, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62. Corning Incorporated has a 12-month low of $37.31 and a 12-month high of $92.57. The company has a market cap of $78.10 billion, a price-to-earnings ratio of 57.65, a PEG ratio of 1.93 and a beta of 1.11.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. Corning had a net margin of 9.16% and a return on equity of 18.12%. The business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the prior year, the firm posted $0.54 EPS. Corning’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. On average, equities analysts expect that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 14th will be given a $0.28 dividend. The ex-dividend date is Friday, November 14th. This represents a $1.12 annualized dividend and a yield of 1.2%. Corning’s payout ratio is 70.89%.

Insider Buying and Selling

In other Corning 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 completion of the sale, the insider owned 44,926 shares of the company’s stock, valued at $4,050,977.42. This represents a 69.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jaymin Amin sold 17,721 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $77.18, for a total value of $1,367,706.78. Following the transaction, the senior vice president directly owned 88,722 shares in the company, valued at $6,847,563.96. This trade represents a 16.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 173,856 shares of company stock worth $15,456,476 over the last ninety days. Corporate insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Barclays boosted their price target on shares of Corning from $65.00 to $83.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 29th. Wall Street Zen downgraded Corning from a “strong-buy” rating to a “hold” rating in a research note on Saturday, September 13th. Citigroup increased their price target on Corning from $93.00 to $99.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Corning in a report on Monday. Finally, Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 21st. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $91.64.

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.