Advisors Asset Management Inc. Has $20.85 Million Stock Position in Corning Incorporated $GLW

Advisors Asset Management Inc. cut its position in Corning Incorporated (NYSE:GLW) by 14.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 396,376 shares of the electronics maker’s stock after selling 67,606 shares during the period. Advisors Asset Management Inc.’s holdings in Corning were worth $20,845,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. REAP Financial Group LLC boosted its holdings in shares of Corning by 191.5% in the 2nd quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock worth $27,000 after acquiring an additional 339 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its position in Corning by 90.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 353 shares during the last quarter. Banque Transatlantique SA acquired a new position in Corning in the first quarter worth $34,000. Resources Management Corp CT ADV boosted its stake in Corning by 66.7% in the first quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 300 shares in the last quarter. Finally, Gen Wealth Partners Inc increased its stake in shares of Corning by 151.7% in the first quarter. Gen Wealth Partners Inc now owns 755 shares of the electronics maker’s stock valued at $35,000 after buying an additional 455 shares in the last quarter. 69.80% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Lewis A. Steverson sold 23,142 shares of the firm’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $89.05, for a total transaction of $2,060,795.10. Following the sale, the executive vice president owned 17,575 shares of the company’s stock, valued at approximately $1,565,053.75. This trade represents a 56.84% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Eric S. Musser sold 100,000 shares of the business’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $90.17, for a total value of $9,017,000.00. Following the completion of the transaction, the insider directly owned 44,926 shares of the company’s stock, valued at approximately $4,050,977.42. The trade was a 69.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 173,856 shares of company stock valued at $15,456,476. 0.40% of the stock is owned by company insiders.

Corning Trading Up 3.6%

NYSE GLW opened at $82.35 on Tuesday. Corning Incorporated has a 12 month low of $37.31 and a 12 month high of $92.57. The stock has a 50-day simple moving average of $84.02 and a 200 day simple moving average of $66.68. 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 company has a market capitalization of $70.60 billion, a PE ratio of 52.12, a P/E/G ratio of 1.99 and a beta of 1.15.

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

Corning Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GLW. Susquehanna upped their price target on shares of Corning from $75.00 to $100.00 and gave the stock a “positive” rating in a research report on Wednesday, October 29th. UBS Group reaffirmed a “buy” rating and issued a $109.00 target price (up from $100.00) on shares of Corning in a research note on Friday. JPMorgan Chase & Co. upped their target price on shares of Corning from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Citigroup raised their price target on shares of Corning from $93.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Finally, Wall Street Zen cut shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Saturday, September 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $91.64.

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.