Louisiana State Employees Retirement System Lowers Stock Position in Corning Incorporated $GLW

Louisiana State Employees Retirement System lowered its position in shares of Corning Incorporated (NYSE:GLW) by 1.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,700 shares of the electronics maker’s stock after selling 800 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Corning were worth $2,140,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Forte Capital LLC ADV increased its holdings in shares of Corning by 2.4% during the second quarter. Forte Capital LLC ADV now owns 7,973 shares of the electronics maker’s stock valued at $419,000 after acquiring an additional 190 shares in the last quarter. Smith Salley Wealth Management increased its holdings in shares of Corning by 3.3% during the second quarter. Smith Salley Wealth Management now owns 6,280 shares of the electronics maker’s stock valued at $330,000 after acquiring an additional 200 shares in the last quarter. Leigh Baldwin & CO. LLC increased its holdings in shares of Corning by 1.7% during the first quarter. Leigh Baldwin & CO. LLC now owns 12,513 shares of the electronics maker’s stock valued at $573,000 after acquiring an additional 210 shares in the last quarter. Old North State Wealth Management LLC increased its holdings in shares of Corning by 0.5% during the second quarter. Old North State Wealth Management LLC now owns 40,325 shares of the electronics maker’s stock valued at $2,121,000 after acquiring an additional 218 shares in the last quarter. Finally, Harbour Investments Inc. increased its holdings in shares of Corning by 2.4% during the first quarter. Harbour Investments Inc. now owns 9,489 shares of the electronics maker’s stock valued at $434,000 after acquiring an additional 224 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Corning

In other Corning news, EVP Lewis A. Steverson sold 16,646 shares of the business’s stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $62.22, for a total transaction 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. The trade was a 29.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Avery H. Nelson III sold 36,240 shares of the business’s stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $62.26, for a total value of $2,256,302.40. Following the sale, the chief operating officer owned 64,838 shares of the company’s stock, valued at approximately $4,036,813.88. This represents a 35.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 181,671 shares of company stock worth $11,816,899. 0.40% of the stock is owned by corporate insiders.

Corning Trading Down 4.8%

Corning stock opened at $83.00 on Friday. The business has a 50-day simple moving average of $73.19 and a two-hundred day simple moving average of $57.18. The company has a market cap of $71.10 billion, a P/E ratio of 88.30, a P/E/G ratio of 1.95 and a beta of 1.14. Corning Incorporated has a 52-week low of $37.31 and a 52-week high of $87.78. The company has a quick ratio of 0.93, a current ratio of 1.50 and a debt-to-equity ratio of 0.58.

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

Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 14th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, November 14th. Corning’s payout ratio is currently 119.15%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on GLW shares. JPMorgan Chase & Co. raised their price target on Corning from $62.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, July 25th. Wolfe Research started coverage on Corning in a report on Tuesday, July 8th. They issued an “outperform” rating for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Corning in a report on Wednesday. Mizuho lifted their price objective on Corning from $74.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, October 3rd. Finally, Argus reiterated a “buy” rating and issued a $68.00 price objective on shares of Corning in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $73.00.

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.