Corning Incorporated $GLW Position Lowered by Curated Wealth Partners LLC

Key Points

• Curated Wealth Partners LLC reduced its Corning position by 98.6% in the third quarter, selling 185,650 shares and retaining 2,623 shares valued at approximately $403,000.
• Institutional investors own 69.8% of Corning, while an executive vice president recently sold 13,100 shares, reducing his holdings by 46.5%.
• Corning exceeded quarterly earnings and revenue estimates, declared a $0.28 quarterly dividend, and holds a “Moderate Buy” analyst consensus with an average price target of $177.56.

Curated Wealth Partners LLC cut its position in shares of Corning Incorporated (NYSE:GLW - Free Report) by 98.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,623 shares of the electronics maker's stock after selling 185,650 shares during the quarter. Curated Wealth Partners LLC's holdings in Corning were worth $403,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Alliance Wealth Advisors LLC boosted its stake in Corning by 1.4% during the second quarter. Alliance Wealth Advisors LLC now owns 4,045 shares of the electronics maker's stock worth $1,033,000 after acquiring an additional 56 shares in the last quarter. Ares Financial Consulting LLC increased its stake in shares of Corning by 15.6% during the second quarter. Ares Financial Consulting LLC now owns 444 shares of the electronics maker's stock valued at $113,000 after purchasing an additional 60 shares in the last quarter. Signature Equity Partners LLC increased its stake in shares of Corning by 19.3% during the first quarter. Signature Equity Partners LLC now owns 383 shares of the electronics maker's stock valued at $52,000 after purchasing an additional 62 shares in the last quarter. Beirne Wealth Consulting Services LLC lifted its holdings in shares of Corning by 0.8% during the first quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker's stock valued at $1,094,000 after purchasing an additional 64 shares during the last quarter. Finally, Balefire LLC lifted its holdings in shares of Corning by 0.7% during the first quarter. Balefire LLC now owns 9,595 shares of the electronics maker's stock valued at $1,305,000 after purchasing an additional 65 shares during the last quarter. 69.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Corning

In other news, EVP Lewis Steverson sold 13,100 shares of the company's stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $151.29, for a total transaction of $1,981,899.00. Following the completion of the sale, the executive vice president owned 15,052 shares of the company's stock, valued at $2,277,217.08. This represents a 46.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is owned by insiders.

Corning Price Performance

GLW opened at $131.93 on Friday. The company's 50-day simple moving average is $154.18 and its two-hundred day simple moving average is $168.66. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. The stock has a market capitalization of $113.64 billion, a P/E ratio of 48.23, a P/E/G ratio of 1.76 and a beta of 1.13. Corning Incorporated has a 52-week low of $77.39 and a 52-week high of $271.78.

Corning (NYSE:GLW - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, beating analysts' consensus estimates of $0.76 by $0.02. The company had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. The firm's revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, analysts predict that Corning Incorporated will post 3.28 EPS for the current year.

Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Friday, November 13th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, November 13th. Corning's payout ratio is currently 51.14%.

Analyst Ratings Changes

GLW has been the topic of a number of recent research reports. Weiss Ratings cut Corning from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, August 21st. Morgan Stanley lowered their price target on Corning from $180.00 to $165.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 29th. The Goldman Sachs Group reaffirmed an "outperform" rating on shares of Corning in a research report on Tuesday, September 15th. UBS Group upped their price target on shares of Corning from $196.00 to $201.00 and gave the stock a "buy" rating in a research note on Monday, October 5th. Finally, China Renaissance raised shares of Corning from a "hold" rating to a "buy" rating and set a $238.00 price objective on the stock in a research report on Tuesday, September 8th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Corning has an average rating of "Moderate Buy" and an average target price of $177.56.

Corning Profile

Corning Incorporated NYSE: GLW is a global materials science and technology company headquartered in Corning, New York. Founded in 1851, the company develops specialized glass, ceramics and optical technologies for customers in the communications, consumer electronics, automotive, life sciences and industrial markets.

Its Optical Communications segment supplies fiber, cable, hardware and related solutions used in telecommunications and data center networks. Corning also produces glass substrates for flat-panel displays, including televisions, monitors and other electronic devices, as well as specialty cover glass such as Gorilla Glass for mobile devices and other consumer electronics.

Additional products include automotive emissions-control substrates and filters, pharmaceutical and laboratory glassware, and advanced glass and ceramic materials used in semiconductor, aerospace, environmental and other applications.

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