California Public Employees Retirement System Sells 540,003 Shares of Corning Incorporated $GLW

California Public Employees Retirement System cut its holdings in shares of Corning Incorporated (NYSE:GLW) by 16.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,831,234 shares of the electronics maker’s stock after selling 540,003 shares during the quarter. California Public Employees Retirement System owned 0.33% of Corning worth $148,895,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in GLW. Parkside Financial Bank & Trust raised its position in Corning by 3.1% in the 2nd quarter. Parkside Financial Bank & Trust now owns 5,296 shares of the electronics maker’s stock worth $278,000 after purchasing an additional 158 shares during the period. Groupe la Francaise grew its stake in shares of Corning by 8.2% during the second quarter. Groupe la Francaise now owns 2,284 shares of the electronics maker’s stock valued at $120,000 after buying an additional 173 shares during the last quarter. Empirical Finance LLC increased its holdings in shares of Corning by 0.7% in the second quarter. Empirical Finance LLC now owns 27,043 shares of the electronics maker’s stock worth $1,422,000 after buying an additional 184 shares during the period. Zions Bancorporation National Association UT lifted its stake in shares of Corning by 3.3% in the 2nd quarter. Zions Bancorporation National Association UT now owns 5,746 shares of the electronics maker’s stock valued at $302,000 after acquiring an additional 185 shares during the last quarter. Finally, Forte Capital LLC ADV lifted its stake in shares of Corning by 2.4% in the 2nd quarter. Forte Capital LLC ADV now owns 7,973 shares of the electronics maker’s stock valued at $419,000 after acquiring an additional 190 shares during the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Insider Buying and Selling at Corning

In other Corning news, insider Eric S. Musser sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $90.17, for a total transaction of $9,017,000.00. Following the transaction, the insider owned 44,926 shares in the company, valued at approximately $4,050,977.42. This represents a 69.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lewis A. Steverson sold 23,142 shares of the stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $89.05, for a total value of $2,060,795.10. Following the completion of the transaction, the executive vice president directly owned 17,575 shares of the company’s stock, valued at $1,565,053.75. This represents a 56.84% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 173,856 shares of company stock worth $15,456,476. Insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GLW shares. Zacks Research cut Corning from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 21st. Oppenheimer set a $100.00 target price on shares of Corning and gave the stock an “outperform” rating in a report on Wednesday, October 29th. Citigroup upped 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. Susquehanna increased their price target on shares of Corning from $75.00 to $100.00 and gave the company a “positive” rating in a research report on Wednesday, October 29th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Corning in a research report on Monday, December 1st. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Corning presently has a consensus rating of “Moderate Buy” and an average target price of $91.64.

Corning Stock Performance

Shares of GLW stock opened at $85.96 on Monday. The firm has a market capitalization of $73.70 billion, a price-to-earnings ratio of 54.41, a PEG ratio of 1.88 and a beta of 1.11. The stock has a fifty day moving average of $84.88 and a 200 day moving average of $69.00. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $92.57. The company has a quick ratio of 1.00, a current ratio of 1.56 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last issued its quarterly earnings data on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. Corning had a net margin of 9.16% and a return on equity of 18.12%. The business had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same period in the previous year, the firm earned $0.54 EPS. The company’s quarterly 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. As a group, research analysts expect that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 14th will be issued a $0.28 dividend. The ex-dividend date is Friday, November 14th. This represents a $1.12 annualized dividend and a yield of 1.3%. Corning’s dividend payout ratio (DPR) is 70.89%.

About Corning

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.