Corning Incorporated $GLW Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund trimmed its position in Corning Incorporated (NYSE:GLW) by 9.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 333,165 shares of the electronics maker’s stock after selling 35,729 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Corning were worth $17,521,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Amundi raised its stake in shares of Corning by 64.3% during the 1st quarter. Amundi now owns 6,408,605 shares of the electronics maker’s stock valued at $271,237,000 after buying an additional 2,507,797 shares during the last quarter. Invesco Ltd. increased its holdings in Corning by 4.8% in the first quarter. Invesco Ltd. now owns 6,337,063 shares of the electronics maker’s stock valued at $290,111,000 after buying an additional 288,328 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Corning by 10.6% in 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 worth $267,546,000 after acquiring an additional 558,184 shares during the period. Deutsche Bank AG boosted its stake in shares of Corning by 37.1% during the 1st quarter. Deutsche Bank AG now owns 3,835,799 shares of the electronics maker’s stock worth $175,603,000 after acquiring an additional 1,037,875 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Corning during the 1st quarter valued at about $104,789,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Stock Down 2.8%

Shares of GLW opened at $85.40 on Monday. Corning Incorporated has a 52-week low of $37.31 and a 52-week high of $92.57. The company has a quick ratio of 0.93, a current ratio of 1.56 and a debt-to-equity ratio of 0.62. The stock has a fifty day simple moving average of $81.68 and a two-hundred day simple moving average of $63.71. The company has a market capitalization of $73.22 billion, a PE ratio of 54.05, a price-to-earnings-growth ratio of 1.99 and a beta of 1.15.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. Corning had a net margin of 9.16% and a return on equity of 18.12%. The firm had revenue of $4.27 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the prior year, the firm posted $0.54 earnings per share. Corning’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, equities analysts forecast that Corning Incorporated will post 2.33 EPS for the current year.

Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 14th will be issued a dividend of $0.28 per share. 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%.

Wall Street Analysts Forecast Growth

GLW has been the subject of several recent analyst reports. Oppenheimer set a $100.00 price target on Corning and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Mizuho set a $97.00 price objective on Corning in a research report on Wednesday, October 29th. Citigroup increased their target price on Corning from $93.00 to $99.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. JPMorgan Chase & Co. boosted their price target on shares of Corning from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Finally, Morgan Stanley set a $82.00 price objective on shares of Corning in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $90.82.

Insider Activity

In related news, SVP Jaymin Amin sold 17,721 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $77.18, for a total value of $1,367,706.78. Following the transaction, the senior vice president directly owned 88,722 shares in the company, valued at approximately $6,847,563.96. This represents a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Lewis A. Steverson sold 23,142 shares of the stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $89.05, for a total value of $2,060,795.10. Following the completion of the transaction, the executive vice president owned 17,575 shares of the company’s stock, valued at $1,565,053.75. The trade was a 56.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 173,856 shares of company stock worth $15,456,476. 0.40% of the stock is owned by company 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.