Corning Incorporated $GLW Stake Lowered by WESCAP Management Group Inc.

WESCAP Management Group Inc. trimmed its position in shares of Corning Incorporated (NYSE:GLW) by 6.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,755 shares of the electronics maker’s stock after selling 1,704 shares during the period. WESCAP Management Group Inc.’s holdings in Corning were worth $1,302,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GLW. Davis Investment Partners LLC bought a new position in Corning during the second quarter valued at approximately $251,000. Central Pacific Bank Trust Division increased its stake in shares of Corning by 23.6% during the 2nd quarter. Central Pacific Bank Trust Division now owns 72,982 shares of the electronics maker’s stock worth $3,838,000 after purchasing an additional 13,920 shares during the last quarter. Motley Fool Asset Management LLC raised its holdings in shares of Corning by 10.5% during the 2nd quarter. Motley Fool Asset Management LLC now owns 44,037 shares of the electronics maker’s stock valued at $2,316,000 after purchasing an additional 4,183 shares in the last quarter. Strs Ohio bought a new position in shares of Corning during the 1st quarter valued at $27,219,000. Finally, Acadian Asset Management LLC lifted its stake in shares of Corning by 4,346.5% in the 1st quarter. Acadian Asset Management LLC now owns 153,984 shares of the electronics maker’s stock valued at $7,048,000 after purchasing an additional 150,521 shares during the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on GLW shares. Oppenheimer set a $100.00 target price on Corning and gave the company an “outperform” rating in a report on Wednesday, October 29th. Citigroup increased their price objective on Corning from $93.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Wall Street Zen lowered Corning from a “strong-buy” rating to a “hold” rating in a report on Saturday, September 13th. Susquehanna upped their target price on Corning from $75.00 to $100.00 and gave the stock a “positive” rating in a research report on Wednesday, October 29th. Finally, Argus lifted their price target on shares of Corning from $68.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $90.82.

Insider Activity at Corning

In related news, SVP Stefan Becker sold 12,100 shares of the firm’s stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $91.28, for a total value of $1,104,488.00. Following the completion of the transaction, the senior vice president directly owned 5,049 shares of the company’s stock, valued at $460,872.72. This trade represents a 70.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Edward A. Schlesinger sold 20,893 shares of the business’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $91.25, for a total transaction of $1,906,486.25. Following the completion of the sale, the chief financial officer directly owned 66,959 shares in the company, valued at $6,110,008.75. This trade represents a 23.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 173,856 shares of company stock worth $15,456,476 in the last three months. Company insiders own 0.40% of the company’s stock.

Corning Trading Down 2.8%

Shares of GLW stock opened at $85.40 on Friday. The firm has a market capitalization of $73.22 billion, a P/E ratio of 54.05, a price-to-earnings-growth ratio of 1.99 and a beta of 1.15. Corning Incorporated has a 1 year low of $37.31 and a 1 year high of $92.57. The firm’s fifty day simple moving average is $81.68 and its 200 day simple moving average is $63.42. The company has a current ratio of 1.56, a quick ratio of 0.93 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.01. Corning had a net margin of 9.16% and a return on equity of 18.12%. The company had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period last year, the business posted $0.54 EPS. The business’s quarterly revenue was up 20.9% on a year-over-year basis. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. As a group, sell-side analysts predict that Corning Incorporated will post 2.33 EPS for the current year.

Corning Dividend Announcement

The company also recently disclosed 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 dividend yield of 1.3%. Corning’s dividend payout ratio (DPR) is currently 70.89%.

About Corning

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.