Quarry LP Sells 9,250 Shares of Corning Incorporated $GLW

Key Points

• Quarry LP has reduced its stake in Corning Incorporated by 72.9%, now holding just 3,434 shares after selling 9,250 shares, valued at approximately $157,000.
• Insiders have sold a total of 163,950 shares worth $10.4 million in the last quarter, with significant sales made by the CFO and COO.
• Corning reported an EPS of $0.60, beating estimates, and set a Q3 2025 EPS guidance range of 0.630-0.670, as the company declares a quarterly dividend of $0.28 per share.

Quarry LP reduced its position in shares of Corning Incorporated (NYSE:GLW - Free Report) by 72.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,434 shares of the electronics maker's stock after selling 9,250 shares during the period. Quarry LP's holdings in Corning were worth $157,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vermillion Wealth Management Inc. acquired a new position in Corning during the fourth quarter valued at approximately $29,000. Putney Financial Group LLC acquired a new position in Corning during the fourth quarter valued at approximately $30,000. Investment Management Corp VA ADV raised its position in Corning by 165.9% during the first quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker's stock valued at $34,000 after purchasing an additional 463 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its position in Corning by 90.1% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker's stock valued at $34,000 after purchasing an additional 353 shares in the last quarter. Finally, Gen Wealth Partners Inc raised its position in Corning by 151.7% during the first quarter. Gen Wealth Partners Inc now owns 755 shares of the electronics maker's stock valued at $35,000 after purchasing an additional 455 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Trading Up 2.0%

Shares of Corning stock traded up $1.39 during trading on Friday, hitting $71.11. The company's stock had a trading volume of 9,071,696 shares, compared to its average volume of 5,294,657. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.50 and a quick ratio of 0.93. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $71.40. The stock has a market cap of $60.91 billion, a price-to-earnings ratio of 75.65, a price-to-earnings-growth ratio of 1.56 and a beta of 1.09. The stock has a 50-day moving average price of $60.60 and a two-hundred day moving average price of $51.68.

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 for the quarter, topping the consensus estimate of $0.57 by $0.03. Corning had a net margin of 5.77% and a return on equity of 17.27%. The company had revenue of $3.86 billion for the quarter, compared to analysts' expectations of $3.84 billion. During the same quarter in the previous year, the firm posted $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Equities research analysts anticipate that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.12 dividend on an annualized basis and a yield of 1.6%. Corning's dividend payout ratio is 119.15%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Oppenheimer restated an "outperform" rating and set a $72.00 price objective (up from $55.00) on shares of Corning in a research report on Wednesday, July 30th. Argus restated a "buy" rating and set a $68.00 price target on shares of Corning in a report on Wednesday, July 30th. Mizuho boosted their price target on Corning from $63.00 to $74.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. JPMorgan Chase & Co. boosted their price target on Corning from $62.00 to $65.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Finally, Citigroup boosted 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. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $66.75.

Insider Buying and Selling at Corning

In other Corning news, EVP Lewis A. Steverson sold 16,646 shares of the company's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $62.22, for a total transaction of $1,035,714.12. Following the sale, the executive vice president owned 39,759 shares of the company's stock, valued at approximately $2,473,804.98. This represents a 29.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Edward A. Schlesinger sold 14,082 shares of the company's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $62.28, for a total transaction of $877,026.96. Following the sale, the chief financial officer directly owned 78,316 shares in the company, valued at $4,877,520.48. This trade represents a 15.24% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 163,950 shares of company stock valued at $10,449,192. 0.40% of the stock is owned by corporate insiders.

Corning Company 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.