Corient Private Wealth LLC Sells 126,977 Shares of Corning Incorporated $GLW

Corient Private Wealth LLC lowered its position in Corning Incorporated (NYSE:GLW) by 36.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 223,654 shares of the electronics maker’s stock after selling 126,977 shares during the quarter. Corient Private Wealth LLC’s holdings in Corning were worth $11,762,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of GLW. Norges Bank bought a new position in Corning during the second quarter worth about $534,936,000. Amundi lifted its position in shares of Corning by 64.3% in the first quarter. Amundi now owns 6,408,605 shares of the electronics maker’s stock valued at $271,237,000 after buying an additional 2,507,797 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new position in shares of Corning during the 2nd quarter worth approximately $92,560,000. Raymond James Financial Inc. increased its holdings in shares of Corning by 93.0% during the 2nd quarter. Raymond James Financial Inc. now owns 3,407,608 shares of the electronics maker’s stock worth $179,206,000 after acquiring an additional 1,641,558 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Corning by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 97,952,109 shares of the electronics maker’s stock valued at $5,151,301,000 after acquiring an additional 1,582,895 shares during the period. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Lewis A. Steverson sold 23,142 shares of the stock in a transaction that occurred on Friday, October 31st. The shares were 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Stefan Becker sold 12,100 shares of the firm’s stock in a transaction on Wednesday, October 29th. The shares were 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 in the company, valued at approximately $460,872.72. This trade represents a 70.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 156,135 shares of company stock worth $14,088,769 over the last three months. Company insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on GLW shares. JPMorgan Chase & Co. lifted their price objective 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. Zacks Research cut shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 21st. Morgan Stanley upped their price target on shares of Corning from $82.00 to $98.00 and gave the company an “equal weight” rating in a research note on Wednesday. Citigroup raised their price objective on shares of Corning from $93.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, Argus boosted their price objective on Corning from $68.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $93.09.

Corning Stock Performance

NYSE GLW opened at $86.92 on Friday. The firm has a 50-day moving average price of $85.85 and a two-hundred day moving average price of $71.24. Corning Incorporated has a 12-month low of $37.31 and a 12-month high of $96.64. The company has a market capitalization of $74.52 billion, a P/E ratio of 55.01, a P/E/G ratio of 1.87 and a beta of 1.11. 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 released its quarterly earnings results on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. The company had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.24 billion. Corning had a net margin of 9.16% and a return on equity of 18.12%. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.54 earnings per share. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. Analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 14th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, November 14th. Corning’s dividend payout ratio is 70.89%.

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.