Dimensional Fund Advisors LP Has $426.64 Million Stock Position in Corning Incorporated $GLW

Key Points

• Dimensional Fund Advisors LP has reduced its stake in Corning Incorporated (NYSE:GLW) by 4.9%, selling 480,329 shares, leaving it with a total of 9,320,244 shares worth approximately $426,640,000.
• Corning's recent earnings report showed an earnings per share of $0.60, beating analysts' expectations of $0.57, with total revenue of $3.86 billion for the quarter.
• The company has announced a quarterly dividend of $0.28, with an annual yield of 1.7%, and has a current dividend payout ratio of 119.15%.

Dimensional Fund Advisors LP cut its position in shares of Corning Incorporated (NYSE:GLW - Free Report) by 4.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,320,244 shares of the electronics maker's stock after selling 480,329 shares during the quarter. Dimensional Fund Advisors LP owned 1.09% of Corning worth $426,640,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. LMR Partners LLP lifted its stake in Corning by 140.1% during the fourth quarter. LMR Partners LLP now owns 1,200,442 shares of the electronics maker's stock worth $57,045,000 after purchasing an additional 700,442 shares during the period. Gotham Asset Management LLC bought a new position in Corning during the fourth quarter worth about $306,000. GAMMA Investing LLC lifted its stake in Corning by 29.2% during the first quarter. GAMMA Investing LLC now owns 11,358 shares of the electronics maker's stock worth $520,000 after purchasing an additional 2,567 shares during the period. Dynamic Advisor Solutions LLC lifted its stake in Corning by 1.3% during the first quarter. Dynamic Advisor Solutions LLC now owns 22,379 shares of the electronics maker's stock worth $1,024,000 after purchasing an additional 297 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Corning by 1.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,300,954 shares of the electronics maker's stock worth $59,558,000 after purchasing an additional 23,781 shares during the period. 69.80% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Lewis A. Steverson sold 16,646 shares of the firm'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 completion of the transaction, the executive vice president owned 39,759 shares of the company's stock, valued at approximately $2,473,804.98. This trade represents a 29.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Stefan Becker sold 17,106 shares of the firm's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $49.68, for a total transaction of $849,826.08. Following the transaction, the senior vice president directly owned 16,117 shares of the company's stock, valued at $800,692.56. The trade was a 51.49% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 211,484 shares of company stock valued at $12,813,804. 0.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Susquehanna reiterated a "positive" rating and issued a $75.00 target price (up previously from $60.00) on shares of Corning in a research note on Wednesday, July 30th. Barclays boosted their price objective on shares of Corning from $52.00 to $65.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 30th. Wolfe Research began coverage on shares of Corning in a research report on Tuesday, July 8th. They issued an "outperform" rating for the company. UBS Group upped their target price on shares of Corning from $57.00 to $65.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Finally, JPMorgan Chase & Co. upped their target price on shares of Corning from $62.00 to $65.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $65.17.

Corning Trading Up 0.3%

Shares of GLW stock traded up $0.2110 on Thursday, hitting $64.8110. The stock had a trading volume of 804,902 shares, compared to its average volume of 5,607,513. The firm has a market cap of $55.52 billion, a P/E ratio of 68.95, a PEG ratio of 1.45 and a beta of 1.08. The company has a current ratio of 1.50, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. Corning Incorporated has a twelve month low of $37.31 and a twelve month high of $66.50. The company has a fifty day moving average price of $56.55 and a two-hundred day moving average price of $50.42.

Corning (NYSE:GLW - Get Free Report) last announced its earnings results 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 net margin of 5.77% and a return on equity of 17.27%. The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.84 billion. During the same quarter in the prior year, the business posted $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. As a group, analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.28 per share. 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%.

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.