Belpointe Asset Management LLC Cuts Position in Corning Incorporated $GLW

Belpointe Asset Management LLC decreased its position in shares of Corning Incorporated (NYSE:GLW) by 11.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,502 shares of the electronics maker’s stock after selling 967 shares during the quarter. Belpointe Asset Management LLC’s holdings in Corning were worth $344,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in GLW. Brighton Jones LLC grew its holdings in shares of Corning by 46.0% during the fourth 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 during the last quarter. Gotham Asset Management LLC purchased a new stake in Corning in the fourth quarter worth approximately $306,000. Janus Henderson Group PLC boosted its holdings in Corning by 2.1% in the fourth quarter. Janus Henderson Group PLC now owns 86,952 shares of the electronics maker’s stock worth $4,132,000 after purchasing an additional 1,766 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Corning by 5.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,182 shares of the electronics maker’s stock worth $2,812,000 after purchasing an additional 2,835 shares during the last quarter. Finally, NorthRock Partners LLC boosted its holdings in Corning by 24.5% in the fourth quarter. NorthRock Partners LLC now owns 5,925 shares of the electronics maker’s stock worth $282,000 after purchasing an additional 1,167 shares during the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Insider Buying and Selling

In other Corning news, EVP Lewis A. Steverson sold 16,646 shares of Corning stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $62.22, for a total value of $1,035,714.12. Following the sale, the executive vice president directly owned 39,759 shares in the company, valued at approximately $2,473,804.98. The trade was a 29.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Edward A. Schlesinger sold 14,082 shares of Corning stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $62.28, for a total transaction of $877,026.96. Following the completion of the sale, the chief financial officer owned 78,316 shares in the company, valued at approximately $4,877,520.48. This represents a 15.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 163,950 shares of company stock worth $10,449,192 in the last 90 days. 0.32% of the stock is owned by company insiders.

Analysts Set New Price Targets

GLW has been the topic of several research reports. Wolfe Research initiated coverage on shares of Corning in a report on Tuesday, July 8th. They issued an “outperform” rating on the stock. Morgan Stanley set a $56.00 target price on shares of Corning and gave the stock an “equal weight” rating in a report on Wednesday, July 30th. Oppenheimer restated an “outperform” rating and issued a $72.00 target price (up previously from $55.00) on shares of Corning in a report on Wednesday, July 30th. Argus reiterated a “buy” rating and issued a $68.00 price target on shares of Corning in a research report on Wednesday, July 30th. Finally, Mizuho increased their price target on shares of Corning from $63.00 to $74.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $66.75.

Corning Stock Performance

Shares of NYSE GLW opened at $77.03 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.50. The company has a market cap of $65.99 billion, a P/E ratio of 81.95, a P/E/G ratio of 1.73 and a beta of 1.09. The firm’s fifty day moving average is $62.75 and its two-hundred day moving average is $52.52. Corning Incorporated has a 52-week low of $37.31 and a 52-week high of $77.87.

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

Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Friday, August 29th. Corning’s payout ratio is currently 119.15%.

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.