Cypress Capital Group Sells 705 Shares of Corning Incorporated $GLW

Cypress Capital Group lessened its position in shares of Corning Incorporated (NYSE:GLW) by 3.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,274 shares of the electronics maker’s stock after selling 705 shares during the quarter. Cypress Capital Group’s holdings in Corning were worth $961,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. boosted its stake in shares of Corning by 14.2% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 3,771 shares of the electronics maker’s stock valued at $197,000 after purchasing an additional 468 shares during the last quarter. Alta Advisers Ltd bought a new stake in shares of Corning during the second quarter worth approximately $218,000. CWM LLC lifted its holdings in Corning by 117.4% in the second quarter. CWM LLC now owns 65,235 shares of the electronics maker’s stock valued at $3,431,000 after buying an additional 35,223 shares during the period. OFI Invest Asset Management boosted its stake in Corning by 49.4% in the second quarter. OFI Invest Asset Management now owns 2,251 shares of the electronics maker’s stock valued at $118,000 after acquiring an additional 744 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in Corning by 32.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 132,743 shares of the electronics maker’s stock worth $6,982,000 after acquiring an additional 32,170 shares during the period. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Trading Down 4.8%

NYSE:GLW opened at $83.00 on Monday. Corning Incorporated has a fifty-two week low of $37.31 and a fifty-two week high of $87.78. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.50 and a quick ratio of 0.93. The stock has a market capitalization of $71.10 billion, a PE ratio of 88.30, a price-to-earnings-growth ratio of 1.85 and a beta of 1.14. The business’s 50-day simple moving average is $73.19 and its 200-day simple moving average is $57.32.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $3.86 billion during the quarter, compared to analysts’ expectations 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 prior year, the business earned $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Sell-side analysts expect that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 14th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.12 dividend on an annualized basis and a yield of 1.3%. Corning’s dividend payout ratio is presently 119.15%.

Insider Activity

In other Corning news, SVP Jaymin Amin sold 17,721 shares of Corning stock in a transaction dated 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 sale, the senior vice president owned 88,722 shares of the company’s stock, valued at $6,847,563.96. This trade represents a 16.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 completion of the sale, the chief operating officer owned 64,838 shares in the company, valued at approximately $4,036,813.88. This trade represents a 35.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 181,671 shares of company stock worth $11,816,899. 0.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

GLW has been the topic of a number of analyst reports. UBS Group increased their price target on Corning from $84.00 to $91.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. Citigroup increased their target price on Corning from $72.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Argus restated a “buy” rating and set a $68.00 target price on shares of Corning in a research report on Wednesday, July 30th. Wall Street Zen downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Saturday, September 13th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Corning in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Corning currently has an average rating of “Moderate Buy” and an average price target of $73.00.

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.