Bahl & Gaynor Inc. Has $130.15 Million Position in Corning Incorporated $GLW

Bahl & Gaynor Inc. lowered its holdings in Corning Incorporated (NYSE:GLW) by 3.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,474,719 shares of the electronics maker’s stock after selling 77,343 shares during the quarter. Bahl & Gaynor Inc. owned 0.29% of Corning worth $130,145,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Mufg Securities Americas Inc. grew its stake in shares of Corning by 25.2% in the 2nd quarter. Mufg Securities Americas Inc. now owns 17,084 shares of the electronics maker’s stock valued at $898,000 after purchasing an additional 3,438 shares during the period. YANKCOM Partnership lifted its position in shares of Corning by 4.0% during the 2nd quarter. YANKCOM Partnership now owns 11,429 shares of the electronics maker’s stock worth $601,000 after buying an additional 439 shares during the period. DNB Asset Management AS boosted its stake in Corning by 3.0% in the 2nd quarter. DNB Asset Management AS now owns 165,525 shares of the electronics maker’s stock valued at $8,705,000 after buying an additional 4,815 shares in the last quarter. Telemark Asset Management LLC grew its position in Corning by 20.0% in the second quarter. Telemark Asset Management LLC now owns 240,000 shares of the electronics maker’s stock valued at $12,622,000 after acquiring an additional 40,000 shares during the period. Finally, Magnetar Financial LLC grew its position in Corning by 7.3% in the second quarter. Magnetar Financial LLC now owns 18,181 shares of the electronics maker’s stock valued at $956,000 after acquiring an additional 1,232 shares during the period. Institutional investors own 69.80% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Edward A. Schlesinger sold 20,893 shares of Corning stock in a transaction dated 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 sale, the chief financial officer directly owned 66,959 shares in the company, valued at $6,110,008.75. This trade represents a 23.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Stefan Becker sold 12,100 shares of the business’s stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $91.28, for a total value of $1,104,488.00. Following the sale, the senior vice president directly owned 5,049 shares of the company’s stock, valued at $460,872.72. This represents a 70.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 173,856 shares of company stock valued at $15,456,476 over the last 90 days. Corporate insiders own 0.40% of the company’s stock.

Wall Street Analysts Forecast Growth

GLW has been the subject of a number of analyst reports. Argus lifted their price objective on Corning from $68.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Morgan Stanley set a $82.00 price target on shares of Corning in a report on Wednesday, October 29th. Barclays lifted their price target on shares of Corning from $65.00 to $83.00 and gave the company an “equal weight” rating in a report on Wednesday, October 29th. Mizuho set a $97.00 price objective on shares of Corning in a research note on Wednesday, October 29th. Finally, UBS Group reaffirmed a “buy” rating and set a $109.00 price objective (up previously from $100.00) on shares of Corning in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.64.

Corning Price Performance

Shares of GLW stock opened at $79.37 on Friday. Corning Incorporated has a 1 year low of $37.31 and a 1 year high of $92.57. The company has a current ratio of 1.56, a quick ratio of 0.93 and a debt-to-equity ratio of 0.62. The firm’s 50 day moving average is $83.93 and its 200-day moving average is $66.11. The firm has a market capitalization of $68.05 billion, a price-to-earnings ratio of 50.23, a PEG ratio of 1.99 and a beta of 1.15.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.01. Corning had a net margin of 9.16% and a return on equity of 18.12%. The firm had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the previous year, the company posted $0.54 EPS. Corning’s revenue was up 20.9% on a year-over-year basis. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. Sell-side analysts forecast that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 14th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, November 14th. Corning’s dividend payout ratio is 70.89%.

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.