DT Investment Partners LLC Sells 13,529 Shares of Corning Incorporated $GLW

DT Investment Partners LLC cut its holdings in Corning Incorporated (NYSE:GLW) by 85.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,371 shares of the electronics maker’s stock after selling 13,529 shares during the period. DT Investment Partners LLC’s holdings in Corning were worth $194,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings 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 purchasing an additional 1,582,895 shares during the period. State Street Corp increased its holdings in shares of Corning by 1.4% during the second quarter. State Street Corp now owns 36,568,973 shares of the electronics maker’s stock worth $1,923,162,000 after purchasing an additional 509,013 shares during the period. Geode Capital Management LLC raised its position in shares of Corning by 0.6% in the second quarter. Geode Capital Management LLC now owns 19,443,525 shares of the electronics maker’s stock valued at $1,018,629,000 after buying an additional 112,739 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Corning by 8.1% in the second quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock valued at $724,432,000 after buying an additional 1,036,988 shares during the period. Finally, Norges Bank acquired a new stake in Corning during the second quarter worth approximately $534,936,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Price Performance

Shares of GLW stock opened at $90.62 on Monday. The business has a fifty day simple moving average of $86.60 and a 200 day simple moving average of $74.50. The company has a market cap of $77.69 billion, a P/E ratio of 57.35, a P/E/G ratio of 1.65 and a beta of 1.13. 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 twelve month low of $37.31 and a twelve month high of $96.64.

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

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Friday, November 14th were paid 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 1.2%. Corning’s dividend payout ratio is presently 70.89%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GLW shares. Barclays raised their price objective on Corning from $65.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 29th. 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. Susquehanna boosted their price target on Corning from $75.00 to $100.00 and gave the company a “positive” rating in a research note on Wednesday, October 29th. Zacks Research cut shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 21st. Finally, Oppenheimer set a $100.00 target price on shares of Corning and gave the company an “outperform” rating in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.09.

Insider Activity at Corning

In other Corning news, EVP Lewis A. Steverson sold 23,142 shares of the firm’s 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 sale, the executive vice president 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 at this link. Also, CFO Edward A. Schlesinger sold 20,893 shares of the business’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $91.25, for a total transaction of $1,906,486.25. Following the sale, the chief financial officer directly owned 66,959 shares in the company, valued at approximately $6,110,008.75. The trade was a 23.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 156,135 shares of company stock worth $14,088,769 in the last 90 days. 0.32% of the stock is currently owned by company insiders.

Corning 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.