Profund Advisors LLC Sells 988 Shares of Corning Incorporated $GLW

Profund Advisors LLC cut its stake in shares of Corning Incorporated (NYSE:GLW) by 7.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,799 shares of the electronics maker’s stock after selling 988 shares during the quarter. Profund Advisors LLC’s holdings in Corning were worth $621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of GLW. Amundi raised its position 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 in the last quarter. Invesco Ltd. increased its stake 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 acquiring an additional 288,328 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position 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 in the last quarter. 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 worth $175,603,000 after purchasing an additional 1,037,875 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of Corning in the 1st quarter worth about $104,789,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Corning Stock Performance

Shares of GLW stock opened at $89.05 on Thursday. The company has a market capitalization of $76.35 billion, a P/E ratio of 56.36, a PEG ratio of 1.99 and a beta of 1.15. Corning Incorporated has a fifty-two week low of $37.31 and a fifty-two week high of $92.57. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.93 and a current ratio of 1.56. The stock has a 50 day moving average price of $82.90 and a two-hundred day moving average price of $64.51.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, October 28th. The electronics maker reported $0.67 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 the consensus estimate of $4.24 billion. During the same period in the previous year, the firm earned $0.54 earnings per share. The firm’s revenue for the quarter was up 20.9% on a year-over-year basis. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. Analysts expect that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Announces Dividend

The company 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 dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, November 14th. Corning’s dividend payout ratio is 70.89%.

Analyst Ratings Changes

GLW has been the topic of a number of research reports. Wall Street Zen cut Corning from a “strong-buy” rating to a “hold” rating in a report on Saturday, September 13th. Oppenheimer set a $100.00 price target on shares of Corning and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Citigroup boosted their price objective on shares of Corning from $93.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Argus upped their price objective on shares of Corning from $68.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Finally, JPMorgan Chase & Co. increased their target price on shares of Corning from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $90.82.

Insider Activity

In other Corning news, CFO Edward A. Schlesinger sold 20,893 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $91.25, for a total transaction of $1,906,486.25. Following the completion of the transaction, the chief financial officer owned 66,959 shares of the company’s stock, valued at $6,110,008.75. This represents a 23.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Stefan Becker sold 12,100 shares of the stock in a transaction that occurred 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 sale, the senior vice president owned 5,049 shares of the company’s stock, valued at approximately $460,872.72. This trade represents a 70.56% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 173,856 shares of company stock valued at $15,456,476. 0.32% of the stock is owned by corporate 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.