Contravisory Investment Management Inc. Takes Position in Corning Incorporated $GLW

Contravisory Investment Management Inc. purchased a new position in Corning Incorporated (NYSE:GLW) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 9,961 shares of the electronics maker’s stock, valued at approximately $817,000.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC increased its position in shares of Corning by 46.0% in the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock valued at $319,000 after buying an additional 2,114 shares in the last quarter. Retirement Planning Co of New England Inc. acquired a new position in Corning during the first quarter worth about $729,000. Brooklyn Investment Group lifted its holdings in shares of Corning by 49.2% in the first quarter. Brooklyn Investment Group now owns 2,695 shares of the electronics maker’s stock valued at $123,000 after purchasing an additional 889 shares in the last quarter. Credit Agricole S A grew its position in shares of Corning by 8.4% in the first quarter. Credit Agricole S A now owns 267,283 shares of the electronics maker’s stock valued at $12,236,000 after purchasing an additional 20,745 shares during the last quarter. Finally, Venture Visionary Partners LLC increased its stake in shares of Corning by 9.2% during the 1st quarter. Venture Visionary Partners LLC now owns 28,591 shares of the electronics maker’s stock worth $1,309,000 after purchasing an additional 2,412 shares in the last quarter. 69.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GLW has been the topic of a number of recent research reports. Morgan Stanley upped their target price on Corning from $82.00 to $98.00 and gave the company an “equal weight” rating in a research note on Wednesday. Weiss Ratings restated a “buy (b-)” rating on shares of Corning in a research report on Monday. Susquehanna lifted their price objective on Corning from $75.00 to $100.00 and gave the stock a “positive” rating in a research report on Wednesday, October 29th. JPMorgan Chase & Co. upped their target price on shares of Corning from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Finally, Mizuho set a $97.00 price target on shares of Corning in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $93.09.

Corning Stock Performance

NYSE GLW opened at $86.92 on Friday. The business’s 50-day moving average price is $85.85 and its 200 day moving average price is $71.24. Corning Incorporated has a twelve month low of $37.31 and a twelve month high of $96.64. The company has a market capitalization of $74.52 billion, a PE ratio of 55.01, a price-to-earnings-growth ratio of 1.87 and a beta of 1.11. 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 (NYSE:GLW) last posted its quarterly earnings results on Tuesday, October 28th. The electronics maker reported $0.67 EPS 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 company had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the previous year, the business earned $0.54 EPS. The firm’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, research analysts predict that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Dividend Announcement

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

Insider Activity at Corning

In other Corning news, EVP Lewis A. Steverson sold 23,142 shares of Corning stock in a transaction on Friday, October 31st. The shares were sold at an average price of $89.05, for a total value of $2,060,795.10. Following the transaction, the executive vice president owned 17,575 shares in the company, valued at $1,565,053.75. This trade represents a 56.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 of the company’s stock, valued at $460,872.72. This represents a 70.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 156,135 shares of company stock worth $14,088,769. Company insiders own 0.40% of the company’s stock.

About Corning

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.