6,131 Shares in Corning Incorporated $GLW Purchased by Perpetual Ltd

Perpetual Ltd acquired a new stake in Corning Incorporated (NYSE:GLW) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 6,131 shares of the electronics maker’s stock, valued at approximately $503,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of GLW. Norges Bank bought a new stake in shares of Corning during the second quarter valued at approximately $534,936,000. Voya Investment Management LLC increased its position in Corning by 748.0% in the 3rd quarter. Voya Investment Management LLC now owns 3,169,741 shares of the electronics maker’s stock valued at $260,014,000 after acquiring an additional 2,795,948 shares during the period. Amundi raised its stake in Corning by 64.3% during the 1st quarter. Amundi now owns 6,408,605 shares of the electronics maker’s stock valued at $271,237,000 after acquiring an additional 2,507,797 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in Corning during the 2nd quarter worth $92,560,000. Finally, Raymond James Financial Inc. grew its stake in shares of Corning by 93.0% in the second quarter. Raymond James Financial Inc. now owns 3,407,608 shares of the electronics maker’s stock worth $179,206,000 after purchasing an additional 1,641,558 shares in the last quarter. Institutional investors own 69.80% of the company’s stock.

Insider Buying and Selling

In other Corning news, EVP Lewis A. Steverson sold 23,142 shares of the firm’s stock in a transaction dated 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 directly owned 17,575 shares in the company, valued at $1,565,053.75. This trade represents a 56.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Stefan Becker sold 12,100 shares of Corning stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $91.28, for a total transaction of $1,104,488.00. Following the completion of the transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 156,135 shares of company stock worth $14,088,769. Company insiders own 0.32% of the company’s stock.

Corning Stock Up 1.1%

GLW stock opened at $87.81 on Monday. The firm has a market cap of $75.28 billion, a PE ratio of 55.58, a P/E/G ratio of 1.92 and a beta of 1.11. Corning Incorporated has a 12 month low of $37.31 and a 12 month high of $96.64. 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 firm has a 50 day simple moving average of $85.94 and a 200 day simple moving average of $71.79.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.01. Corning had a return on equity of 18.12% and a net margin of 9.16%.The company had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the prior year, the company earned $0.54 earnings per share. The firm’s revenue was up 20.9% on a year-over-year basis. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. Equities research analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current fiscal 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 currently 70.89%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on GLW shares. Morgan Stanley lifted their price objective on shares of Corning from $82.00 to $98.00 and gave the company an “equal weight” rating in a research note on Wednesday. JPMorgan Chase & Co. boosted 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. Argus increased their price objective on shares of Corning from $68.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Zacks Research lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 21st. Finally, Oppenheimer set a $100.00 target price on Corning and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. One investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $93.09.

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.