Lafayette Investments Inc. Sells 2,071 Shares of Corning Incorporated $GLW

Lafayette Investments Inc. lowered its stake in shares of Corning Incorporated (NYSE:GLW) by 3.1% in the second quarter, Holdings Channel reports. The institutional investor owned 65,253 shares of the electronics maker’s stock after selling 2,071 shares during the period. Lafayette Investments Inc.’s holdings in Corning were worth $3,432,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in GLW. Brighton Jones LLC grew its holdings in shares of Corning by 46.0% during the 4th quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock worth $319,000 after purchasing an additional 2,114 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Corning by 29.2% in 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. ORG Partners LLC lifted its holdings in shares of Corning by 115.8% during the 1st quarter. ORG Partners LLC now owns 887 shares of the electronics maker’s stock worth $40,000 after acquiring an additional 476 shares during the period. Stonegate Investment Group LLC boosted its position in shares of Corning by 33.6% during the 1st quarter. Stonegate Investment Group LLC now owns 5,840 shares of the electronics maker’s stock valued at $267,000 after acquiring an additional 1,469 shares in the last quarter. Finally, JFS Wealth Advisors LLC increased its stake in Corning by 66.4% in the first quarter. JFS Wealth Advisors LLC now owns 1,348 shares of the electronics maker’s stock valued at $62,000 after acquiring an additional 538 shares during the period. 69.80% of the stock is owned by institutional investors and hedge funds.

Corning Price Performance

Shares of GLW stock opened at $85.31 on Tuesday. The firm has a market cap of $73.08 billion, a price-to-earnings ratio of 90.75, a PEG ratio of 1.89 and a beta of 1.14. Corning Incorporated has a 12 month low of $37.31 and a 12 month 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 stock has a 50-day moving average price of $75.74 and a 200 day moving average price of $59.06.

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

Corning Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Mizuho boosted their price target on Corning from $74.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, October 3rd. UBS Group lifted their price target on shares of Corning from $84.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. Argus reaffirmed a “buy” rating and set a $68.00 price objective on shares of Corning in a research note on Wednesday, July 30th. Oppenheimer reiterated an “outperform” rating and issued a $72.00 target price (up previously from $55.00) on shares of Corning in a research note on Wednesday, July 30th. Finally, Barclays boosted their target price on Corning from $52.00 to $65.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 30th. One investment 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 data from MarketBeat, Corning has an average rating of “Moderate Buy” and an average target price of $73.00.

Insider Buying and Selling at Corning

In other news, SVP Michael Paul O’day sold 14,879 shares of the company’s stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $62.36, for a total value of $927,854.44. Following the completion of the sale, the senior vice president directly owned 35,743 shares of the company’s stock, valued at $2,228,933.48. This represents a 29.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Wendell P. Weeks sold 82,103 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $65.19, for a total transaction of $5,352,294.57. Following the completion of the sale, the chief executive officer owned 809,295 shares in the company, valued at $52,757,941.05. This represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 181,671 shares of company stock valued at $11,816,899 over the last quarter. 0.32% of the stock is owned by corporate 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.