Corning Incorporated $GLW Stake Lowered by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC trimmed its stake in Corning Incorporated (NYSE:GLW) by 3.9% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,064,235 shares of the electronics maker’s stock after selling 82,797 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Corning were worth $108,558,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Amundi grew its position in Corning by 64.3% in the 1st quarter. Amundi now owns 6,408,605 shares of the electronics maker’s stock worth $271,237,000 after purchasing an additional 2,507,797 shares during the last quarter. Nuveen LLC acquired a new stake in Corning in the 1st quarter valued at approximately $104,789,000. Kingstone Capital Partners Texas LLC acquired a new position in Corning during the 2nd quarter worth $92,560,000. Robeco Institutional Asset Management B.V. grew its stake in shares of Corning by 185.7% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,801,411 shares of the electronics maker’s stock worth $94,736,000 after purchasing an additional 1,170,992 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of Corning by 37.1% during the first quarter. Deutsche Bank AG now owns 3,835,799 shares of the electronics maker’s stock valued at $175,603,000 after purchasing an additional 1,037,875 shares during the period. Institutional investors own 69.80% of the company’s stock.

Insider Buying and Selling at Corning

In related news, SVP Stefan Becker sold 12,100 shares of the company’s stock in a transaction dated 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 sale, the senior vice president owned 5,049 shares of the company’s stock, valued at $460,872.72. The trade was a 70.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Edward A. Schlesinger sold 20,893 shares of the stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $91.25, for a total value of $1,906,486.25. Following the completion of the transaction, the chief financial officer directly owned 66,959 shares of the company’s stock, valued at approximately $6,110,008.75. The trade was a 23.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 173,856 shares of company stock valued at $15,456,476 over the last quarter. Company insiders own 0.40% of the company’s stock.

Corning Trading Down 2.8%

Shares of NYSE GLW opened at $85.40 on Friday. The business has a 50 day simple moving average of $81.68 and a 200 day simple moving average of $63.42. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $92.57. The stock has a market cap of $73.22 billion, a price-to-earnings ratio of 54.05, a PEG ratio of 1.99 and a beta of 1.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.93 and a current ratio of 1.56.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share for the quarter, beating 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 company had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period last year, the company earned $0.54 earnings per share. The business’s revenue was up 20.9% compared to the same quarter last year. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. On average, research analysts predict that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 14th will be paid 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 presently 70.89%.

Wall Street Analyst Weigh In

GLW has been the topic of a number of recent analyst reports. Morgan Stanley set a $82.00 price target on shares of Corning in a research report on Wednesday, October 29th. Mizuho set a $97.00 target price on Corning in a research report on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Corning in a research note on Wednesday, October 8th. Argus boosted their price objective on Corning from $68.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Finally, UBS Group raised their target price on Corning from $91.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Corning currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.82.

Corning 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.