Corning Incorporated $GLW Stake Lessened by Motco

Motco cut its holdings in shares of Corning Incorporated (NYSE:GLW) by 4.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 99,694 shares of the electronics maker’s stock after selling 4,196 shares during the period. Motco’s holdings in Corning were worth $5,243,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Amundi lifted its stake in Corning by 64.3% during the first quarter. Amundi now owns 6,408,605 shares of the electronics maker’s stock valued at $271,237,000 after purchasing an additional 2,507,797 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Corning by 1.3% during the first 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 purchasing an additional 80,872 shares during the last quarter. Invesco Ltd. lifted its stake in Corning by 4.8% during the first quarter. Invesco Ltd. now owns 6,337,063 shares of the electronics maker’s stock valued at $290,111,000 after purchasing an additional 288,328 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Corning by 10.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,844,174 shares of the electronics maker’s stock valued at $267,546,000 after purchasing an additional 558,184 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in Corning by 37.1% during the first quarter. Deutsche Bank AG now owns 3,835,799 shares of the electronics maker’s stock valued at $175,603,000 after purchasing an additional 1,037,875 shares during the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Wendell P. Weeks sold 82,103 shares of the stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $65.19, for a total transaction of $5,352,294.57. Following the transaction, the chief executive officer owned 809,295 shares in the company, valued at $52,757,941.05. This represents a 9.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jaymin Amin sold 17,721 shares of the stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $77.18, for a total transaction of $1,367,706.78. Following the transaction, the senior vice president owned 88,722 shares in the company, valued at approximately $6,847,563.96. This trade represents a 16.65% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.32% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

GLW has been the subject of several research analyst reports. Argus restated a “buy” rating and issued a $68.00 price target on shares of Corning in a research report on Wednesday, July 30th. Oppenheimer restated an “outperform” rating and issued a $72.00 price target (up previously from $55.00) on shares of Corning in a research report on Wednesday, July 30th. Weiss Ratings restated a “hold (c+)” rating on shares of Corning in a research report on Wednesday, October 8th. Mizuho upped their price target on shares of Corning from $74.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, October 3rd. Finally, Morgan Stanley upped their price target on shares of Corning from $56.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Corning has a consensus rating of “Moderate Buy” and an average price target of $73.00.

Corning Stock Down 3.2%

GLW stock opened at $86.53 on Wednesday. Corning Incorporated has a 12-month low of $37.31 and a 12-month high of $89.77. The company has a quick ratio of 0.93, a current ratio of 1.50 and a debt-to-equity ratio of 0.58. The company has a market cap of $74.12 billion, a price-to-earnings ratio of 92.05, a PEG ratio of 2.00 and a beta of 1.14. The company has a 50 day moving average of $78.28 and a two-hundred day moving average of $60.97.

Corning (NYSE:GLW) last released its earnings results on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. Corning had a net margin of 5.77% and a return on equity of 17.27%. The company had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the prior year, the firm earned $0.54 EPS. The company’s revenue was up 20.9% compared to the same quarter last year. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. On average, equities analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 14th will be given a $0.28 dividend. The ex-dividend date is Friday, November 14th. This represents a $1.12 dividend on an annualized basis and a yield of 1.3%. Corning’s dividend payout ratio is presently 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.