Cohen Klingenstein LLC Has $1.82 Million Position in Corning Incorporated $GLW

Cohen Klingenstein LLC decreased its stake in Corning Incorporated (NYSE:GLW) by 55.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,130 shares of the electronics maker’s stock after selling 27,800 shares during the period. Cohen Klingenstein LLC’s holdings in Corning were worth $1,815,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC increased its position in Corning by 46.0% during the 4th quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock valued at $319,000 after purchasing an additional 2,114 shares during the period. Retirement Planning Co of New England Inc. acquired a new stake in shares of Corning during the first quarter worth $729,000. Ieq Capital LLC lifted its holdings in Corning by 191.0% in the first quarter. Ieq Capital LLC now owns 49,919 shares of the electronics maker’s stock valued at $2,285,000 after buying an additional 32,764 shares during the period. CreativeOne Wealth LLC lifted its holdings in Corning by 11.5% in the first quarter. CreativeOne Wealth LLC now owns 11,353 shares of the electronics maker’s stock valued at $520,000 after buying an additional 1,171 shares during the period. Finally, B. Metzler seel. Sohn & Co. AG boosted its position in Corning by 104.2% during the first quarter. B. Metzler seel. Sohn & Co. AG now owns 69,285 shares of the electronics maker’s stock valued at $3,172,000 after acquiring an additional 35,353 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Lewis A. Steverson sold 23,142 shares of Corning stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $89.05, for a total transaction of $2,060,795.10. Following the transaction, the executive vice president owned 17,575 shares of the company’s stock, valued at $1,565,053.75. The trade was a 56.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Stefan Becker sold 12,100 shares of the company’s stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $91.28, for a total value of $1,104,488.00. Following the sale, the senior vice president owned 5,049 shares of the company’s stock, valued at $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 90 days. Company insiders own 0.40% of the company’s stock.

Corning Trading Down 0.1%

NYSE GLW opened at $89.58 on Friday. 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. The business has a 50 day moving average price of $86.31 and a 200-day moving average price of $72.84. The company has a market cap of $76.80 billion, a price-to-earnings ratio of 56.69, a P/E/G ratio of 1.96 and a beta of 1.11.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, October 28th. The electronics maker reported $0.67 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 during the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the previous year, the business posted $0.54 EPS. Corning’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 analysts expect that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Friday, November 14th were given a $0.28 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.12 annualized dividend and a yield of 1.3%. Corning’s dividend payout ratio (DPR) is presently 70.89%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on GLW shares. Barclays lifted their price objective on Corning from $65.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 29th. JPMorgan Chase & Co. boosted their price target on Corning from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Argus raised their price objective on shares of Corning from $68.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Susquehanna boosted their target price 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, Zacks Research lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 21st. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Corning has an average rating of “Moderate Buy” and a consensus target price of $93.09.

Corning Company Profile

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.