Corning Incorporated $GLW Shares Sold by Avanza Fonder AB

Key Points

• Avanza Fonder AB reduced its stake in Corning Incorporated by 12.6% in the second quarter, holding 70,609 shares worth approximately $3.71 million.
• Corning recently reported a quarterly EPS of $0.60, exceeding analyst estimates, with guidance for Q3 2025 set between $0.630 and $0.670 EPS.
• The company declared a quarterly dividend of $0.28 per share, with a dividend yield of 1.4%, scheduled for payment on September 29th.

Avanza Fonder AB decreased its stake in shares of Corning Incorporated (NYSE:GLW - Free Report) by 12.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 70,609 shares of the electronics maker's stock after selling 10,210 shares during the period. Avanza Fonder AB's holdings in Corning were worth $3,713,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of GLW. Farther Finance Advisors LLC grew its holdings in Corning by 1.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 22,924 shares of the electronics maker's stock valued at $1,206,000 after buying an additional 288 shares in the last quarter. CX Institutional grew its position in shares of Corning by 9.0% during the second quarter. CX Institutional now owns 17,015 shares of the electronics maker's stock valued at $895,000 after purchasing an additional 1,400 shares in the last quarter. Adirondack Trust Co. boosted its position in shares of Corning by 34.5% during the 2nd quarter. Adirondack Trust Co. now owns 3,895 shares of the electronics maker's stock valued at $205,000 after acquiring an additional 1,000 shares during the last quarter. Weatherly Asset Management L. P. grew its stake in shares of Corning by 21.9% during the second quarter. Weatherly Asset Management L. P. now owns 69,192 shares of the electronics maker's stock worth $3,639,000 after acquiring an additional 12,448 shares during the last quarter. Finally, Bridge Creek Capital Management LLC raised its position in shares of Corning by 1.2% in the 2nd quarter. Bridge Creek Capital Management LLC now owns 110,784 shares of the electronics maker's stock valued at $5,826,000 after purchasing an additional 1,365 shares during the last quarter. Institutional investors own 69.80% of the company's stock.

Corning Trading Down 0.6%

NYSE:GLW traded down $0.46 during trading hours on Monday, hitting $79.11. The stock had a trading volume of 7,312,757 shares, compared to its average volume of 9,536,202. The company has a market cap of $67.76 billion, a price-to-earnings ratio of 84.15, a P/E/G ratio of 1.78 and a beta of 1.09. Corning Incorporated has a one year low of $37.31 and a one year high of $79.98. The business's 50 day moving average is $65.89 and its 200-day moving average is $53.83. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.50.

Corning (NYSE:GLW - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. The business had revenue of $3.86 billion during the quarter, compared to analysts' expectations of $3.84 billion. Corning had a return on equity of 17.27% and a net margin of 5.77%.During the same period in the previous year, the company posted $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Sell-side analysts anticipate that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.28 per share. The ex-dividend date is Friday, August 29th. This represents a $1.12 annualized dividend and a dividend yield of 1.4%. Corning's dividend payout ratio (DPR) is presently 119.15%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on GLW shares. Citigroup raised their price objective on shares of Corning from $52.00 to $60.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Mizuho raised their price target on shares of Corning from $63.00 to $74.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Morgan Stanley set a $56.00 price objective on shares of Corning and gave the company an "equal weight" rating in a research report on Wednesday, July 30th. Wolfe Research assumed coverage on shares of Corning in a research report on Tuesday, July 8th. They set an "outperform" rating for the company. Finally, Susquehanna reiterated a "positive" rating and set a $75.00 target price (up from $60.00) on shares of Corning in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $66.75.

Insider Activity at Corning

In other news, EVP Lewis A. Steverson sold 16,646 shares of the business's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $62.22, for a total value of $1,035,714.12. Following the transaction, the executive vice president directly owned 39,759 shares in the company, valued at $2,473,804.98. The trade was a 29.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michael Paul O'day sold 14,879 shares of the business's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $62.36, for a total transaction of $927,854.44. Following the sale, the senior vice president directly owned 35,743 shares of the company's stock, valued at $2,228,933.48. This represents a 29.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 181,671 shares of company stock valued at $11,816,899 in the last 90 days. 0.32% of the stock is owned by company insiders.

About Corning

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.