Corning Incorporated $GLW Shares Sold by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. lowered its stake in shares of Corning Incorporated (NYSE:GLW - Free Report) by 0.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 344,997 shares of the electronics maker's stock after selling 2,940 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Corning were worth $18,143,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. R Squared Ltd grew its position in shares of Corning by 40.6% during the second quarter. R Squared Ltd now owns 8,734 shares of the electronics maker's stock worth $459,000 after buying an additional 2,524 shares in the last quarter. Cardinal Point Capital Management ULC grew its position in shares of Corning by 1.6% during the second quarter. Cardinal Point Capital Management ULC now owns 30,982 shares of the electronics maker's stock worth $1,629,000 after buying an additional 500 shares in the last quarter. Carnegie Investment Counsel grew its position in shares of Corning by 10.0% during the second quarter. Carnegie Investment Counsel now owns 69,246 shares of the electronics maker's stock worth $3,642,000 after buying an additional 6,273 shares in the last quarter. Bleakley Financial Group LLC boosted its holdings in Corning by 10.8% in the second quarter. Bleakley Financial Group LLC now owns 18,329 shares of the electronics maker's stock worth $964,000 after purchasing an additional 1,786 shares during the period. Finally, Forum Financial Management LP boosted its holdings in Corning by 1.5% in the second quarter. Forum Financial Management LP now owns 17,513 shares of the electronics maker's stock worth $921,000 after purchasing an additional 257 shares during the period. Institutional investors and hedge funds own 69.80% of the company's stock.

Insider Buying and Selling at Corning

In related news, COO Avery H. Nelson III sold 36,240 shares of Corning stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $62.26, for a total transaction of $2,256,302.40. Following the sale, the chief operating officer directly owned 64,838 shares in the company, valued at $4,036,813.88. The trade was a 35.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jaymin Amin sold 17,721 shares of Corning stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $77.18, for a total transaction of $1,367,706.78. Following the sale, the senior vice president owned 88,722 shares in the company, valued at approximately $6,847,563.96. This represents a 16.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 181,671 shares of company stock valued at $11,816,899. 0.40% of the stock is currently owned by insiders.

Corning Stock Performance

GLW stock opened at $87.46 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.50. The stock has a market capitalization of $74.92 billion, a price-to-earnings ratio of 93.04, a PEG ratio of 1.95 and a beta of 1.14. Corning Incorporated has a 1 year low of $37.31 and a 1 year high of $87.78. The stock's fifty day moving average is $77.36 and its two-hundred day moving average is $60.22.

Corning (NYSE:GLW - Get Free Report) last posted its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.03. The company had revenue of $3.86 billion for 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 last year, the business posted $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. On average, research analysts predict that Corning Incorporated will post 2.33 EPS for the current year.

Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 14th 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 1.3%. The ex-dividend date is Friday, November 14th. Corning's payout ratio is currently 119.15%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GLW. Barclays lifted their price objective on shares of Corning from $52.00 to $65.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Susquehanna reaffirmed a "positive" rating and issued a $75.00 price objective (up previously from $60.00) on shares of Corning in a report on Wednesday, July 30th. JPMorgan Chase & Co. lifted their price objective on shares of Corning from $62.00 to $65.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Mizuho lifted their price objective on shares of Corning from $74.00 to $90.00 and gave the stock an "outperform" rating in a report on Friday, October 3rd. Finally, Wolfe Research began coverage on shares of Corning in a report on Tuesday, July 8th. They issued an "outperform" rating for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Corning currently has an average rating of "Moderate Buy" and a consensus target price of $73.00.

Corning Profile

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.

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