Cidel Asset Management Inc. Sells 502 Shares of Corning Incorporated $GLW

Cidel Asset Management Inc. cut its position in shares of Corning Incorporated (NYSE:GLW) by 9.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,014 shares of the electronics maker’s stock after selling 502 shares during the quarter. Cidel Asset Management Inc.’s holdings in Corning were worth $264,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in GLW. REAP Financial Group LLC boosted its holdings in Corning by 191.5% in the second quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock worth $27,000 after acquiring an additional 339 shares in the last quarter. Investment Management Corp VA ADV boosted its holdings in Corning by 165.9% in the first quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker’s stock worth $34,000 after acquiring an additional 463 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in Corning by 90.1% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker’s stock worth $34,000 after acquiring an additional 353 shares in the last quarter. Banque Transatlantique SA bought a new stake in Corning in the first quarter worth $34,000. Finally, Resources Management Corp CT ADV boosted its holdings in Corning by 66.7% in the first quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker’s stock worth $34,000 after acquiring an additional 300 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors.

Corning Stock Up 1.0%

GLW stock opened at $85.31 on Tuesday. Corning Incorporated has a 1-year low of $37.31 and a 1-year high of $87.78. The business has a fifty day moving average price of $75.74 and a 200-day moving average price of $59.06. 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 $73.08 billion, a P/E ratio of 90.75, a P/E/G ratio of 1.89 and a beta of 1.14.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.84 billion. Corning had a return on equity of 17.27% and a net margin of 5.77%.During the same quarter in the prior year, the business earned $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Equities analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, November 14th. Corning’s dividend payout ratio is 119.15%.

Analysts Set New Price Targets

Several research firms have commented on GLW. Susquehanna reissued a “positive” rating and issued a $75.00 target price (up from $60.00) on shares of Corning in a report on Wednesday, July 30th. Mizuho boosted their target price on Corning from $74.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, October 3rd. Wolfe Research began coverage on Corning in a research note on Tuesday, July 8th. They issued an “outperform” rating for the company. Weiss Ratings restated a “hold (c+)” rating on shares of Corning in a research note on Wednesday, October 8th. Finally, Argus restated a “buy” rating and issued a $68.00 price target on shares of Corning in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $73.00.

Insider Activity at Corning

In related news, EVP Lewis A. Steverson sold 16,646 shares of the company’s stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $62.22, for a total transaction of $1,035,714.12. Following the completion of the sale, the executive vice president owned 39,759 shares in the company, valued at approximately $2,473,804.98. This 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 can be accessed through the SEC website. Also, SVP Michael Paul O’day sold 14,879 shares of the company’s stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $62.36, for a total value of $927,854.44. Following the sale, the senior vice president owned 35,743 shares of the company’s stock, valued at approximately $2,228,933.48. This trade represents a 29.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 181,671 shares of company stock valued at $11,816,899 in the last 90 days. 0.32% of the stock is owned by company 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.