6,712 Shares in Corning Incorporated (NYSE:GLW) Bought by Novem Group

23 May 2025, 09:10 by Teresa Graham · The Cerbat Gem

Novem Group bought a new position in Corning Incorporated (NYSE:GLW – Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 6,712 shares of the electronics maker’s stock, valued at approximately $319,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GLW. PharVision Advisers LLC acquired a new stake in shares of Corning in the fourth quarter valued at about $347,000. Delta Investment Management LLC increased its position in shares of Corning by 136.7% in the fourth quarter. Delta Investment Management LLC now owns 11,324 shares of the electronics maker’s stock valued at $538,000 after acquiring an additional 6,539 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Corning by 6.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,285,990 shares of the electronics maker’s stock valued at $251,190,000 after acquiring an additional 303,607 shares during the last quarter. Waverly Advisors LLC increased its position in shares of Corning by 14.5% in the fourth quarter. Waverly Advisors LLC now owns 31,448 shares of the electronics maker’s stock valued at $1,494,000 after acquiring an additional 3,978 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC acquired a new stake in shares of Corning in the fourth quarter valued at about $45,753,000. 69.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on GLW shares. Bank of America increased their price objective on Corning from $65.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, March 19th. JPMorgan Chase & Co. cut their price objective on Corning from $62.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Hsbc Global Res upgraded shares of Corning from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 30th. Oppenheimer lowered their price objective on shares of Corning from $58.00 to $55.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Finally, HSBC upgraded shares of Corning from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $51.00 to $60.00 in a research note on Thursday, January 30th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $53.08.

View Our Latest Stock Analysis on Corning

Insider Buying and Selling at Corning

In other Corning news, SVP Michael Alan Bell sold 20,262 shares of Corning stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $44.06, for a total value of $892,743.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John Z. Zhang sold 8,000 shares of Corning stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $46.91, for a total transaction of $375,280.00. Following the completion of the sale, the vice president now owns 9,610 shares of the company’s stock, valued at $450,805.10. This trade represents a 45.43% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.

Corning Trading Up 0.7%

Shares of GLW stock opened at $48.53 on Friday. The firm has a 50 day moving average price of $44.76 and a two-hundred day moving average price of $47.51. The company has a quick ratio of 1.07, a current ratio of 1.62 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $41.56 billion, a PE ratio of 83.67, a price-to-earnings-growth ratio of 1.50 and a beta of 1.09. Corning Incorporated has a 12-month low of $35.40 and a 12-month high of $55.33.

Corning (NYSE:GLW – Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The electronics maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.03. The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.63 billion. Corning had a net margin of 3.86% and a return on equity of 15.10%. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period last year, the business posted $0.38 earnings per share. As a group, analysts predict that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Friday, May 30th. Corning’s dividend payout ratio is 215.38%.

Corning Company Profile

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