MetLife Investment Management LLC Sells 3,739 Shares of Corning Incorporated $GLW

Key Points

• MetLife Investment Management LLC has reduced its stake in Corning Incorporated by 1.8%, selling 3,739 shares, and now holds 200,145 shares valued at approximately $9.16 million.
• Corning has received positive analyst ratings, with target price upgrades from multiple firms, including JPMorgan raising it from $62 to $65 and Susquehanna increasing it to $75.
• The company declared a quarterly dividend of $0.28 per share, with a dividend yield of 1.7%, scheduled for payment on September 29th.

MetLife Investment Management LLC decreased its holdings in shares of Corning Incorporated (NYSE:GLW - Free Report) by 1.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 200,145 shares of the electronics maker's stock after selling 3,739 shares during the period. MetLife Investment Management LLC's holdings in Corning were worth $9,163,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Synovus Financial Corp increased its position in shares of Corning by 25.9% during the first quarter. Synovus Financial Corp now owns 26,422 shares of the electronics maker's stock valued at $1,210,000 after acquiring an additional 5,434 shares in the last quarter. Jump Financial LLC increased its position in shares of Corning by 409.1% during the first quarter. Jump Financial LLC now owns 296,127 shares of the electronics maker's stock valued at $13,557,000 after acquiring an additional 237,961 shares in the last quarter. Valueworks LLC increased its position in shares of Corning by 0.4% during the first quarter. Valueworks LLC now owns 111,573 shares of the electronics maker's stock valued at $5,108,000 after acquiring an additional 401 shares in the last quarter. Groupe la Francaise bought a new stake in shares of Corning during the first quarter valued at approximately $98,000. Finally, Sax Wealth Advisors LLC bought a new stake in shares of Corning during the first quarter valued at approximately $632,000. Institutional investors own 69.80% of the company's stock.

Analyst Upgrades and Downgrades

GLW has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price target 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. Susquehanna reissued a "positive" rating and set a $75.00 price target (up previously from $60.00) on shares of Corning in a research report on Wednesday, July 30th. Oppenheimer reissued an "outperform" rating and set a $72.00 price target (up previously from $55.00) on shares of Corning in a research report on Wednesday, July 30th. Mizuho raised their target price on shares of Corning from $63.00 to $74.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Finally, UBS Group raised their target price on shares of Corning from $57.00 to $65.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $65.17.

Insider Buying and Selling at Corning

In other news, EVP Lewis A. Steverson sold 16,646 shares of Corning 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 transaction, the executive vice president owned 39,759 shares in the company, valued at $2,473,804.98. This trade represents a 29.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Stefan Becker sold 17,106 shares of Corning stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $49.68, for a total transaction of $849,826.08. Following the transaction, the senior vice president owned 16,117 shares in the company, valued at $800,692.56. This represents a 51.49% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 187,561 shares of company stock worth $11,624,334. Insiders own 0.32% of the company's stock.

Corning Trading Up 1.1%

Shares of GLW stock opened at $67.50 on Wednesday. Corning Incorporated has a 12-month low of $37.31 and a 12-month high of $67.68. The company has a current ratio of 1.50, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. The firm's 50 day moving average is $57.82 and its 200 day moving average is $50.78. The stock has a market capitalization of $57.83 billion, a P/E ratio of 71.81, a P/E/G ratio of 1.50 and a beta of 1.08.

Corning (NYSE:GLW - Get Free Report) last issued its quarterly earnings results 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. The business had revenue of $3.86 billion for the quarter, compared to analysts' expectations of $3.84 billion. Corning had a net margin of 5.77% and a return on equity of 17.27%. During the same quarter last year, the company posted $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Research analysts expect that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Dividend Announcement

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. This represents a $1.12 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, August 29th. Corning's dividend payout ratio (DPR) is currently 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.

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