Exchange Traded Concepts LLC Buys 7,853 Shares of Corning Incorporated $GLW

Exchange Traded Concepts LLC grew its stake in Corning Incorporated (NYSE:GLW) by 139.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,480 shares of the electronics maker’s stock after acquiring an additional 7,853 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Corning were worth $1,106,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. REAP Financial Group LLC boosted its stake in Corning by 191.5% in the 2nd quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock worth $27,000 after purchasing an additional 339 shares in the last quarter. Total Investment Management Inc. purchased a new position in Corning in the second quarter worth about $28,000. Banque Transatlantique SA bought a new position in shares of Corning in the first quarter worth approximately $34,000. Resources Management Corp CT ADV grew its holdings in shares of Corning by 66.7% during the first quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker’s stock valued at $34,000 after buying an additional 300 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in shares of Corning during the second quarter valued at approximately $36,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Corning

In other Corning news, SVP Stefan Becker sold 12,100 shares of the stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $91.28, for a total value of $1,104,488.00. Following the transaction, the senior vice president directly owned 5,049 shares in the company, valued at approximately $460,872.72. This trade represents a 70.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Edward A. Schlesinger sold 20,893 shares of Corning stock in a transaction on Friday, October 31st. The stock was sold at an average price of $91.25, for a total transaction of $1,906,486.25. Following the transaction, the chief financial officer owned 66,959 shares in the company, valued at $6,110,008.75. This represents a 23.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 156,135 shares of company stock valued at $14,088,769 in the last ninety days. Corporate insiders own 0.40% of the company’s stock.

Corning Stock Down 0.1%

Corning stock opened at $89.58 on Friday. Corning Incorporated has a one year low of $37.31 and a one year high of $96.64. The stock has a fifty day moving average of $86.31 and a 200 day moving average of $72.99. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.56. The stock has a market cap of $76.80 billion, a PE ratio of 56.69, a price-to-earnings-growth ratio of 1.96 and a beta of 1.11.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share (EPS) for the quarter, topping 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 business had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same period last year, the firm posted $0.54 earnings per share. The business’s revenue for the quarter was up 20.9% on a year-over-year basis. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. As a group, sell-side analysts predict that Corning Incorporated will post 2.33 EPS for the current year.

Corning Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Argus upped their price objective on Corning from $68.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Mizuho set a $97.00 price target on Corning in a report on Wednesday, October 29th. Susquehanna increased their price objective on Corning from $75.00 to $100.00 and gave the company a “positive” rating in a research report on Wednesday, October 29th. Wall Street Zen lowered Corning from a “strong-buy” rating to a “hold” rating in a research report on Saturday, September 13th. Finally, Citigroup upped their target price 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. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.09.

About Corning

Corning Incorporated is a global manufacturer specializing in specialty glass, ceramics and related materials and technologies. Headquartered in Corning, New York, the company supplies engineered materials and components used across multiple industries, including consumer electronics, telecommunications, automotive emissions control, pharmaceutical and life sciences, and industrial and scientific applications. Corning emphasizes materials science and precision manufacturing to develop durable, high-performance glass and ceramic products.

Key product lines include specialty display glass used by television and mobile-device manufacturers, cover glass marketed under well-known trade names for smartphones and tablets, and optical fiber and cable and related hardware for telecommunications networks.