Verity & Verity LLC Sells 206,002 Shares of Corning Incorporated $GLW

Verity & Verity LLC trimmed its holdings in shares of Corning Incorporated (NYSE:GLW) by 38.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 324,989 shares of the electronics maker’s stock after selling 206,002 shares during the quarter. Corning accounts for approximately 1.5% of Verity & Verity LLC’s holdings, making the stock its 29th biggest holding. Verity & Verity LLC’s holdings in Corning were worth $17,091,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Amundi raised its position in Corning by 64.3% in the 1st quarter. Amundi now owns 6,408,605 shares of the electronics maker’s stock worth $271,237,000 after purchasing an additional 2,507,797 shares during the period. Nuveen LLC bought a new position in shares of Corning in the first quarter worth about $104,789,000. Kingstone Capital Partners Texas LLC purchased a new position in shares of Corning during the second quarter worth approximately $92,560,000. Vanguard Group Inc. raised its position in Corning by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 97,952,109 shares of the electronics maker’s stock valued at $5,151,301,000 after purchasing an additional 1,582,895 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of Corning by 185.7% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,801,411 shares of the electronics maker’s stock valued at $94,736,000 after acquiring an additional 1,170,992 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Susquehanna upped their target price on Corning from $75.00 to $100.00 and gave the stock a “positive” rating in a report on Wednesday, October 29th. Mizuho set a $97.00 price objective on shares of Corning in a report on Wednesday, October 29th. Zacks Research lowered Corning from a “strong-buy” rating to a “hold” rating in a report on Friday. Wall Street Zen downgraded Corning from a “strong-buy” rating to a “hold” rating in a research note on Saturday, September 13th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Corning in a report on Wednesday, November 19th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Corning currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.64.

Corning Price Performance

Shares of GLW opened at $81.14 on Tuesday. The firm has a 50-day simple moving average of $84.02 and a 200-day simple moving average of $66.68. 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 company has a market capitalization of $69.57 billion, a price-to-earnings ratio of 51.41, a price-to-earnings-growth ratio of 1.99 and a beta of 1.15.

Corning (NYSE:GLW) last announced its quarterly 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 return on equity of 18.12% and a net margin of 9.16%.The business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the previous year, the company earned $0.54 EPS. The company’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. On average, equities research analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 14th will be given 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 1.4%. Corning’s dividend payout ratio is presently 70.89%.

Insider Buying and Selling

In related news, EVP Lewis A. Steverson sold 23,142 shares of the business’s stock in a transaction dated 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 sale, the executive vice president directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Edward A. Schlesinger sold 20,893 shares of the stock in a transaction 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 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 173,856 shares of company stock valued at $15,456,476 over the last ninety days. Insiders own 0.40% of the company’s stock.

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.