LRI Investments LLC Reduces Stake in Corning Incorporated $GLW

LRI Investments LLC trimmed its stake in Corning Incorporated (NYSE:GLW) by 2.5% during the second quarter, Holdings Channel reports. The fund owned 17,334 shares of the electronics maker’s stock after selling 445 shares during the period. LRI Investments LLC’s holdings in Corning were worth $912,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GLW. REAP Financial Group LLC lifted its stake in shares of Corning by 191.5% during the 2nd quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock valued at $27,000 after buying an additional 339 shares in the last quarter. Investment Management Corp VA ADV lifted its position in shares of Corning by 165.9% in the 1st quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 463 shares during the period. Annis Gardner Whiting Capital Advisors LLC lifted its position in shares of Corning by 90.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 353 shares during the period. Banque Transatlantique SA purchased a new position in Corning during the 1st quarter valued at about $34,000. Finally, Resources Management Corp CT ADV lifted its position in Corning by 66.7% during the 1st quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker’s stock valued at $34,000 after acquiring an additional 300 shares during the period. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Corning Price Performance

Corning stock opened at $83.00 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.50 and a quick ratio of 0.93. The stock has a market capitalization of $71.10 billion, a PE ratio of 88.30, a price-to-earnings-growth ratio of 1.85 and a beta of 1.14. Corning Incorporated has a 12 month low of $37.31 and a 12 month high of $87.78. The business has a 50 day simple moving average of $73.19 and a 200-day simple moving average of $57.25.

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

Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 14th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, November 14th. Corning’s payout ratio is currently 119.15%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Barclays boosted their target price on shares of Corning from $52.00 to $65.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 30th. Citigroup upped their price objective on shares of Corning from $72.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. UBS Group increased their price target on shares of Corning from $84.00 to $91.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. Morgan Stanley increased their price objective on shares of Corning from $56.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, Wolfe Research started coverage on shares of Corning in a research report on Tuesday, July 8th. They issued an “outperform” rating for the company. One 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Insider Buying and Selling at Corning

In other Corning news, CEO Wendell P. Weeks sold 82,103 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $65.19, for a total value of $5,352,294.57. Following the completion of the transaction, the chief executive officer owned 809,295 shares of the company’s stock, valued at $52,757,941.05. This represents a 9.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Avery H. Nelson III sold 36,240 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $62.26, for a total value of $2,256,302.40. Following the transaction, the chief operating officer owned 64,838 shares of the company’s stock, valued at $4,036,813.88. This trade represents a 35.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 181,671 shares of company stock worth $11,816,899 in the last ninety days. 0.40% of the stock is owned by insiders.

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.