Sicart Associates LLC Lowers Stock Holdings in Corning Incorporated $GLW

Sicart Associates LLC decreased its position in shares of Corning Incorporated (NYSE:GLW) by 63.4% during the second quarter, HoldingsChannel reports. The firm owned 38,910 shares of the electronics maker’s stock after selling 67,429 shares during the period. Sicart Associates LLC’s holdings in Corning were worth $2,046,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Davis Investment Partners LLC purchased a new stake in Corning during the second quarter valued at about $251,000. Central Pacific Bank Trust Division raised its position in Corning by 23.6% during the second quarter. Central Pacific Bank Trust Division now owns 72,982 shares of the electronics maker’s stock valued at $3,838,000 after purchasing an additional 13,920 shares in the last quarter. Strs Ohio purchased a new stake in Corning during the first quarter valued at about $27,219,000. Acadian Asset Management LLC raised its position in Corning by 4,346.5% during the first 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 in the last quarter. Finally, Intech Investment Management LLC raised its position in Corning by 507.6% during the first quarter. Intech Investment Management LLC now owns 211,124 shares of the electronics maker’s stock valued at $9,665,000 after purchasing an additional 176,379 shares in the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Corning Stock Performance

Corning stock opened at $82.13 on Wednesday. The company has a current ratio of 1.50, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average of $69.09 and a 200-day moving average of $55.23. The firm has a market cap of $70.35 billion, a P/E ratio of 87.37, a P/E/G ratio of 1.79 and a beta of 1.09. Corning Incorporated has a 1-year low of $37.31 and a 1-year high of $82.21.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.84 billion. Corning had a net margin of 5.77% and a return on equity of 17.27%. During the same period in the prior year, the business posted $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Sell-side analysts expect that Corning Incorporated will post 2.33 EPS for the current year.

Insiders Place Their Bets

In other Corning news, EVP Lewis A. Steverson sold 16,646 shares of the firm’s stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $62.22, for a total value of $1,035,714.12. Following the completion of the sale, the executive vice president directly owned 39,759 shares in the company, valued at $2,473,804.98. This trade represents a 29.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Michael Paul O’day sold 14,879 shares of the firm’s stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $62.36, for a total transaction of $927,854.44. Following the completion of the sale, the senior vice president owned 35,743 shares of the company’s stock, valued at $2,228,933.48. This trade represents a 29.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 181,671 shares of company stock valued at $11,816,899 over the last ninety days. 0.32% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have issued reports on GLW. Citigroup upped their price target on shares of Corning from $72.00 to $93.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Mizuho raised their price objective on Corning from $63.00 to $74.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. JPMorgan Chase & Co. raised their price objective on Corning from $62.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. Wall Street Zen cut Corning from a “strong-buy” rating to a “hold” rating in a research note on Saturday, September 13th. Finally, Morgan Stanley set a $56.00 price objective on Corning and gave the company an “equal weight” rating in a research note on Wednesday, July 30th. One 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 company’s stock. According to MarketBeat, Corning currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.08.

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.