Caisse DE Depot ET Placement DU Quebec Decreases Holdings in Corning Incorporated $GLW

Key Points

• Caisse DE Depot ET Placement DU Quebec reduced its stake in Corning Incorporated by 35.3%, selling 207,900 shares, resulting in ownership of 381,100 shares worth approximately $17.4 million.
• Insider selling has occurred recently, with CFO Edward A. Schlesinger and EVP Lewis A. Steverson reducing their holdings by 15.24% and 29.51%, respectively.
• Corning reported better than expected Q2 earnings, with $0.60 EPS reported against a consensus estimate of $0.57, and has set its Q3 2025 guidance at 0.630-0.670 EPS.

Caisse DE Depot ET Placement DU Quebec lowered its stake in shares of Corning Incorporated (NYSE:GLW - Free Report) by 35.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 381,100 shares of the electronics maker's stock after selling 207,900 shares during the quarter. Caisse DE Depot ET Placement DU Quebec's holdings in Corning were worth $17,447,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of GLW. Leigh Baldwin & CO. LLC grew its stake in Corning by 1.7% in the 1st quarter. Leigh Baldwin & CO. LLC now owns 12,513 shares of the electronics maker's stock valued at $573,000 after purchasing an additional 210 shares during the period. University of Texas Texas AM Investment Management Co. grew its stake in Corning by 9.7% in the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 2,422 shares of the electronics maker's stock valued at $115,000 after purchasing an additional 214 shares during the period. Harbour Investments Inc. grew its stake in Corning by 2.4% in the 1st quarter. Harbour Investments Inc. now owns 9,489 shares of the electronics maker's stock valued at $434,000 after purchasing an additional 224 shares during the period. Old North State Wealth Management LLC grew its stake in Corning by 0.6% in the 1st quarter. Old North State Wealth Management LLC now owns 40,107 shares of the electronics maker's stock valued at $1,836,000 after purchasing an additional 239 shares during the period. Finally, Colonial Trust Co SC grew its stake in Corning by 3.8% in the 4th quarter. Colonial Trust Co SC now owns 7,138 shares of the electronics maker's stock valued at $339,000 after purchasing an additional 258 shares during the period. Institutional investors own 69.80% of the company's stock.

Insider Transactions at Corning

In other Corning news, CFO Edward A. Schlesinger sold 14,082 shares of the firm's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $62.28, for a total value of $877,026.96. Following the sale, the chief financial officer owned 78,316 shares of the company's stock, valued at $4,877,520.48. This trade represents a 15.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Michael Paul O'day sold 14,879 shares of the firm's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $62.36, for a total value of $927,854.44. Following the completion of the sale, the senior vice president directly owned 35,743 shares in the company, valued at approximately $2,228,933.48. The trade was a 29.39% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 163,950 shares of company stock worth $10,449,192. 0.32% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on GLW shares. Oppenheimer restated an "outperform" rating and issued a $72.00 price objective (up previously from $55.00) on shares of Corning in a research note on Wednesday, July 30th. Wall Street Zen upgraded Corning from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Morgan Stanley set a $56.00 price target on Corning and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. Wolfe Research assumed coverage on Corning in a research note on Tuesday, July 8th. They set an "outperform" rating for the company. Finally, Susquehanna reiterated a "positive" rating and set a $75.00 price target (up previously from $60.00) on shares of Corning in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Corning has a consensus rating of "Moderate Buy" and a consensus target price of $65.17.

Corning Price Performance

GLW traded down $1.90 during trading on Monday, reaching $67.03. 6,191,039 shares of the company were exchanged, compared to its average volume of 5,115,324. The company's 50-day moving average is $58.86 and its two-hundred day moving average is $51.09. The company has a market cap of $57.42 billion, a price-to-earnings ratio of 71.31, a P/E/G ratio of 1.50 and a beta of 1.09. The company has a quick ratio of 0.93, a current ratio of 1.50 and a debt-to-equity ratio of 0.58. Corning Incorporated has a 12-month low of $37.31 and a 12-month high of $69.29.

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

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.12 annualized dividend and a dividend yield of 1.7%. Corning's dividend payout ratio (DPR) is presently 119.15%.

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.