Corning Incorporated $GLW Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its stake in Corning Incorporated by 1.3%, owning approximately 10.72 million shares valued at $491 million after selling 144,313 shares in Q1.
• Corning recently reported $0.60 earnings per share, surpassing the consensus estimate of $0.57, with Q3 2025 guidance set at $0.630-0.670 EPS.
• The company declared a quarterly dividend of $0.28, reflecting a 1.7% yield, with a dividend payout ratio currently at 119.15%.

Northern Trust Corp cut its position in shares of Corning Incorporated (NYSE:GLW - Free Report) by 1.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,726,062 shares of the electronics maker's stock after selling 144,313 shares during the period. Northern Trust Corp owned approximately 1.25% of Corning worth $491,039,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in Corning by 1.3% in the 1st quarter. Bank of New York Mellon Corp now owns 6,347,977 shares of the electronics maker's stock valued at $290,610,000 after buying an additional 80,872 shares during the period. Invesco Ltd. boosted its position in Corning by 4.8% in the 1st quarter. Invesco Ltd. now owns 6,337,063 shares of the electronics maker's stock valued at $290,111,000 after buying an additional 288,328 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Corning by 6.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,285,990 shares of the electronics maker's stock valued at $251,190,000 after buying an additional 303,607 shares during the period. Deutsche Bank AG boosted its position in Corning by 37.1% in the 1st quarter. Deutsche Bank AG now owns 3,835,799 shares of the electronics maker's stock valued at $175,603,000 after buying an additional 1,037,875 shares during the period. Finally, Stifel Financial Corp boosted its position in Corning by 17.2% in the 4th quarter. Stifel Financial Corp now owns 3,293,656 shares of the electronics maker's stock valued at $156,516,000 after buying an additional 483,221 shares during the period. 69.80% of the stock is owned by hedge funds and other institutional investors.

Corning Price Performance

Shares of NYSE:GLW traded up $0.7950 during midday trading on Friday, hitting $65.6850. The company's stock had a trading volume of 3,435,071 shares, compared to its average volume of 5,973,847. The business's 50 day simple moving average is $57.16 and its 200 day simple moving average is $50.60. 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 company has a market cap of $56.27 billion, a P/E ratio of 69.88, a price-to-earnings-growth ratio of 1.45 and a beta of 1.08. Corning Incorporated has a 12-month low of $37.31 and a 12-month high of $66.50.

Corning (NYSE:GLW - Get Free Report) last posted 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 firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.84 billion. Corning had a net margin of 5.77% and a return on equity of 17.27%. During the same period last year, the firm posted $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. On average, analysts forecast that Corning Incorporated will post 2.33 EPS for the current year.

Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders 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 dividend on an annualized basis and a yield of 1.7%. Corning's payout ratio is 119.15%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Wolfe Research assumed coverage on shares of Corning in a research report on Tuesday, July 8th. They issued an "outperform" rating for the company. Oppenheimer restated an "outperform" rating and set a $72.00 price target (up previously from $55.00) on shares of Corning in a research note on Wednesday, July 30th. Morgan Stanley set a $56.00 price target on shares of Corning and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Argus reiterated a "buy" rating and issued a $68.00 price objective on shares of Corning in a research note on Wednesday, July 30th. Finally, Barclays increased their price target 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. One research 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. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $65.17.

Insider Activity at Corning

In other Corning news, EVP Lewis A. Steverson sold 16,646 shares of Corning stock in a transaction dated 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 directly owned 39,759 shares of the company's stock, valued at $2,473,804.98. The trade was a 29.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Avery H. Nelson III sold 36,240 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the chief operating officer directly owned 64,838 shares in the company, valued at $4,036,813.88. This trade represents a 35.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 211,484 shares of company stock valued at $12,813,804 over the last ninety days. Corporate insiders own 0.40% of the company's stock.

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.