Corning Incorporated $GLW Shares Sold by Folger Nolan Fleming Douglas Capital Management Inc.

Folger Nolan Fleming Douglas Capital Management Inc. reduced its holdings in shares of Corning Incorporated (NYSE:GLW) by 10.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,720 shares of the electronics maker’s stock after selling 1,880 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Corning were worth $827,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in GLW. Brighton Jones LLC increased its position in Corning by 46.0% during the 4th 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. Pallas Capital Advisors LLC acquired a new position in Corning during the 1st quarter valued at about $286,000. GAMMA Investing LLC increased its position in Corning by 29.2% during the 1st quarter. GAMMA Investing LLC now owns 11,358 shares of the electronics maker’s stock valued at $520,000 after buying an additional 2,567 shares in the last quarter. Simon Quick Advisors LLC increased its position in Corning by 59.3% during the 1st quarter. Simon Quick Advisors LLC now owns 9,738 shares of the electronics maker’s stock valued at $446,000 after buying an additional 3,625 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. increased its position in Corning by 1.5% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 19,852 shares of the electronics maker’s stock valued at $909,000 after buying an additional 297 shares in the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GLW has been the topic of several recent analyst reports. Wolfe Research initiated coverage on Corning in a research report on Tuesday, July 8th. They set an “outperform” rating on the stock. UBS Group increased their price objective on Corning from $84.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. Morgan Stanley increased their price objective on Corning from $56.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday. Citigroup increased their price objective on Corning from $72.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Corning in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Corning currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

Corning Stock Down 4.8%

Shares of GLW opened at $83.00 on Friday. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $87.78. The company has a quick ratio of 0.93, a current ratio of 1.50 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $71.10 billion, a price-to-earnings ratio of 88.30, a PEG ratio of 1.95 and a beta of 1.14. The stock’s 50-day moving average price is $73.19 and its 200-day moving average price is $57.18.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. Corning had a return on equity of 17.27% and a net margin of 5.77%.The firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same quarter in the prior year, the business earned $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. On average, sell-side analysts predict that Corning Incorporated will post 2.33 EPS for the current year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 14th will be paid a $0.28 dividend. The ex-dividend date is Friday, November 14th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.3%. Corning’s dividend payout ratio is presently 119.15%.

Insider Transactions at Corning

In other Corning news, CEO Wendell P. Weeks sold 82,103 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $65.19, for a total transaction of $5,352,294.57. Following the transaction, the chief executive officer owned 809,295 shares in the company, valued at approximately $52,757,941.05. This represents a 9.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jaymin Amin sold 17,721 shares of the stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $77.18, for a total value of $1,367,706.78. Following the transaction, the senior vice president owned 88,722 shares in the company, valued at $6,847,563.96. This represents a 16.65% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 181,671 shares of company stock valued at $11,816,899. 0.40% of the stock is owned by insiders.

Corning Company 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.