State of New Jersey Common Pension Fund D Trims Stock Holdings in Corning Incorporated $GLW

State of New Jersey Common Pension Fund D trimmed its position in Corning Incorporated (NYSE:GLW) by 0.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 268,949 shares of the electronics maker’s stock after selling 2,398 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Corning were worth $14,144,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. REAP Financial Group LLC grew its stake in shares of 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 during the last quarter. Investment Management Corp VA ADV grew its stake in shares of 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 during the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its stake in shares of 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 during the last quarter. Banque Transatlantique SA purchased a new stake in shares of Corning in the first quarter worth $34,000. Finally, Resources Management Corp CT ADV grew its stake in shares of 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 during the last quarter. 69.80% of the stock is owned by hedge funds and other institutional investors.

Corning Stock Up 1.9%

GLW stock opened at $87.46 on Friday. Corning Incorporated has a fifty-two week low of $37.31 and a fifty-two week high of $87.78. The business’s 50-day moving average is $77.36 and its two-hundred day moving average is $60.22. 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 $74.92 billion, a price-to-earnings ratio of 93.04, a P/E/G ratio of 1.95 and a beta of 1.14.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. Corning had a return on equity of 17.27% and a net margin of 5.77%.The company had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same quarter in the prior year, the company earned $0.47 earnings per share. 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 year.

Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 14th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.12 annualized dividend and a dividend yield of 1.3%. Corning’s dividend payout ratio (DPR) is 119.15%.

Insider Transactions at Corning

In other news, SVP Michael Paul O’day sold 14,879 shares of the firm’s stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $62.36, for a total value of $927,854.44. Following the transaction, the senior vice president owned 35,743 shares of the company’s stock, valued at $2,228,933.48. This trade represents a 29.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lewis A. Steverson sold 16,646 shares of the firm’s stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $62.22, for a total value of $1,035,714.12. Following the completion of the transaction, the executive vice president directly owned 39,759 shares in the company, valued at $2,473,804.98. This trade represents a 29.51% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 181,671 shares of company stock valued at $11,816,899. Company insiders own 0.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on GLW shares. Susquehanna reissued a “positive” rating and issued a $75.00 target price (up from $60.00) on shares of Corning in a research note on Wednesday, July 30th. Citigroup increased their target price on Corning from $72.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Argus reissued a “buy” rating and issued a $68.00 target price on shares of Corning in a research note on Wednesday, July 30th. Oppenheimer reissued an “outperform” rating and issued a $72.00 target price (up from $55.00) on shares of Corning in a research note on Wednesday, July 30th. Finally, Mizuho upped their price target on Corning from $74.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $73.00.

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.