Corning Incorporated $GLW Holdings Lowered by First Trust Advisors LP

First Trust Advisors LP reduced its stake in Corning Incorporated (NYSE:GLW) by 3.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 977,319 shares of the electronics maker’s stock after selling 39,302 shares during the period. First Trust Advisors LP owned 0.11% of Corning worth $51,397,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. REAP Financial Group LLC lifted its position in Corning by 191.5% in the second quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock worth $27,000 after purchasing an additional 339 shares during the period. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Corning in the 2nd quarter worth $36,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Corning in the 2nd quarter worth $38,000. Resources Management Corp CT ADV lifted its holdings in shares of Corning by 66.7% in the first quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker’s stock valued at $34,000 after buying an additional 300 shares during the period. Finally, Gen Wealth Partners Inc boosted its stake in Corning by 151.7% during 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. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insider Buying and Selling at Corning

In related news, insider Eric S. Musser sold 100,000 shares of the company’s stock in a transaction 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 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 transaction was disclosed in a 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 dated 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 sale, the executive vice president directly owned 17,575 shares of the company’s stock, valued at approximately $1,565,053.75. This represents a 56.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 173,856 shares of company stock valued at $15,456,476 in the last ninety days. Company insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

GLW has been the topic of several research reports. Oppenheimer set a $100.00 price target on shares of Corning and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Argus boosted their target price on shares of Corning from $68.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Susquehanna increased their target price on shares of Corning from $75.00 to $100.00 and gave the company a “positive” rating in a research note on Wednesday, October 29th. JPMorgan Chase & Co. lifted their price target 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. Finally, UBS Group reaffirmed a “buy” rating and issued a $109.00 price target (up previously from $100.00) on shares of Corning in a report on Friday, November 21st. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $91.64.

Corning Stock Performance

Corning stock opened at $85.96 on Monday. Corning Incorporated has a fifty-two week low of $37.31 and a fifty-two week high of $92.57. The firm’s 50 day simple moving average is $84.88 and its 200-day simple moving average is $69.00. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.56 and a quick ratio of 1.00. The company has a market cap of $73.70 billion, a P/E ratio of 54.41, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11.

Corning (NYSE:GLW) last issued its quarterly earnings results on Tuesday, October 28th. The electronics maker reported $0.67 EPS for the quarter, beating 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 business had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the prior year, the firm earned $0.54 EPS. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. As a group, equities research analysts predict that Corning Incorporated will post 2.33 EPS for the current year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 14th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, November 14th. 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.