Corning Incorporated $GLW Shares Sold by Benson Investment Management Company Inc.

Benson Investment Management Company Inc. decreased its position in shares of Corning Incorporated (NYSE:GLW) by 11.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 90,676 shares of the electronics maker’s stock after selling 11,555 shares during the quarter. Corning makes up about 2.5% of Benson Investment Management Company Inc.’s holdings, making the stock its 8th largest position. Benson Investment Management Company Inc.’s holdings in Corning were worth $7,438,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Fiduciary Alliance LLC grew its stake in Corning by 0.7% during the 3rd quarter. Fiduciary Alliance LLC now owns 18,474 shares of the electronics maker’s stock worth $1,515,000 after buying an additional 137 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Corning by 3.1% in the second quarter. Parkside Financial Bank & Trust now owns 5,296 shares of the electronics maker’s stock valued at $278,000 after acquiring an additional 158 shares during the period. Groupe la Francaise grew its position 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 worth $120,000 after acquiring an additional 173 shares during the last quarter. Empirical Finance LLC increased its holdings in shares of Corning by 0.7% in the 2nd quarter. Empirical Finance LLC now owns 27,043 shares of the electronics maker’s stock valued at $1,422,000 after acquiring an additional 184 shares during the period. Finally, Zions Bancorporation National Association UT raised its position in 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 purchasing an additional 185 shares during the last quarter. 69.80% of the stock is owned by hedge funds and other institutional investors.

Corning Trading Up 1.1%

GLW stock opened at $87.81 on Friday. The business has a fifty day simple moving average of $85.94 and a 200-day simple moving average of $71.64. The company has a market cap of $75.28 billion, a price-to-earnings ratio of 55.58, a PEG ratio of 1.92 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 Incorporated has a 52 week low of $37.31 and a 52 week high of $96.64.

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

Corning Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Friday, November 14th were given 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 currently 70.89%.

Analysts Set New Price Targets

GLW has been the topic of several research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a research report on Monday, December 15th. Morgan Stanley increased their target price on shares of Corning from $82.00 to $98.00 and gave the stock an “equal weight” rating in a research note on Wednesday. UBS Group restated a “buy” rating and issued a $109.00 price target (up previously from $100.00) on shares of Corning in a research report on Friday, November 21st. Mizuho set a $97.00 price objective on shares of Corning in a research report on Wednesday, October 29th. Finally, Susquehanna raised their price target on Corning from $75.00 to $100.00 and gave the company a “positive” rating in a report on Wednesday, October 29th. One research 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $93.09.

Insider Buying and Selling at Corning

In other Corning news, CFO Edward A. Schlesinger sold 20,893 shares of the firm’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $91.25, for a total value of $1,906,486.25. Following the transaction, the chief financial officer owned 66,959 shares of the company’s stock, 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 legal filing with the SEC, which is available at this link. Also, insider Eric S. Musser sold 100,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider owned 44,926 shares of the company’s stock, valued at $4,050,977.42. This represents a 69.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 156,135 shares of company stock valued at $14,088,769 over the last three months. 0.40% of the stock is currently owned by company insiders.

About Corning

Corning Incorporated is a global manufacturer specializing in specialty glass, ceramics and related materials and technologies. Headquartered in Corning, New York, the company supplies engineered materials and components used across multiple industries, including consumer electronics, telecommunications, automotive emissions control, pharmaceutical and life sciences, and industrial and scientific applications. Corning emphasizes materials science and precision manufacturing to develop durable, high-performance glass and ceramic products.

Key product lines include specialty display glass used by television and mobile-device manufacturers, cover glass marketed under well-known trade names for smartphones and tablets, and optical fiber and cable and related hardware for telecommunications networks.