23,550 Shares in Corning Incorporated $GLW Acquired by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. bought a new stake in Corning Incorporated (NYSE:GLW) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 23,550 shares of the electronics maker’s stock, valued at approximately $1,932,000.

Several other hedge funds have also bought and sold shares of GLW. Financial Management Professionals Inc. raised its position in shares of Corning by 111.1% during the 3rd quarter. Financial Management Professionals Inc. now owns 380 shares of the electronics maker’s stock valued at $31,000 after buying an additional 200 shares in the last quarter. Bayforest Capital Ltd bought a new position in Corning in the third quarter valued at $39,000. Steigerwald Gordon & Koch Inc. bought a new position in Corning in the third quarter valued at $42,000. REAP Financial Group LLC raised its position in Corning by 191.5% during the second quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock valued at $27,000 after purchasing an additional 339 shares in the last quarter. Finally, Total Investment Management Inc. bought a new stake in Corning during the second quarter worth about $28,000. 69.80% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Lewis A. Steverson sold 23,142 shares of the firm’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $89.05, for a total value of $2,060,795.10. Following the completion of the sale, the executive vice president owned 17,575 shares of the company’s stock, valued at $1,565,053.75. This trade represents a 56.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Edward A. Schlesinger sold 20,893 shares of Corning stock in a transaction on Friday, October 31st. The shares were sold at an average price of $91.25, for a total transaction of $1,906,486.25. Following the completion of the sale, the chief financial officer owned 66,959 shares in the company, valued at approximately $6,110,008.75. This trade represents a 23.78% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 156,135 shares of company stock worth $14,088,769. Corporate insiders own 0.40% of the company’s stock.

Corning Stock Down 1.0%

Shares of Corning stock opened at $93.37 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.56. Corning Incorporated has a 52-week low of $37.31 and a 52-week high of $96.64. The company’s 50 day moving average price is $87.63 and its 200-day moving average price is $78.22. The stock has a market capitalization of $80.05 billion, a price-to-earnings ratio of 59.09, a P/E/G ratio of 1.65 and a beta of 1.13.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, October 28th. The electronics maker reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. The company had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.24 billion. Corning had a net margin of 9.16% and a return on equity of 18.12%. The firm’s revenue was up 20.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.54 EPS. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. Equities research analysts forecast that Corning Incorporated will post 2.33 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GLW. Weiss Ratings reiterated a “buy (b-)” rating on shares of Corning in a research report on Monday, December 29th. JPMorgan Chase & Co. upped their target price on Corning from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Susquehanna lifted their price target on shares of Corning from $75.00 to $100.00 and gave the stock a “positive” rating in a research note on Wednesday, October 29th. Morgan Stanley upped their price objective on shares of Corning from $82.00 to $98.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 17th. Finally, Oppenheimer set a $100.00 target price on shares of Corning and gave the company an “outperform” rating in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $93.36.

Corning Profile

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.