Caisse DE Depot ET Placement DU Quebec Trims Stock Position in Corning Incorporated $GLW

Caisse DE Depot ET Placement DU Quebec lowered its holdings in shares of Corning Incorporated (NYSE:GLW) by 35.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 381,100 shares of the electronics maker’s stock after selling 207,900 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Corning were worth $17,447,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GLW. LMR Partners LLP grew its stake in shares of Corning by 140.1% during the 4th quarter. LMR Partners LLP now owns 1,200,442 shares of the electronics maker’s stock valued at $57,045,000 after acquiring an additional 700,442 shares during the period. Gotham Asset Management LLC purchased a new stake in Corning in the 4th quarter worth approximately $306,000. GAMMA Investing LLC increased its holdings in Corning by 29.2% in the 1st quarter. GAMMA Investing LLC now owns 11,358 shares of the electronics maker’s stock worth $520,000 after acquiring an additional 2,567 shares in the last quarter. Dynamic Advisor Solutions LLC increased its holdings in Corning by 1.3% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 22,379 shares of the electronics maker’s stock worth $1,024,000 after acquiring an additional 297 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Corning by 1.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,300,954 shares of the electronics maker’s stock worth $59,558,000 after acquiring an additional 23,781 shares in the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Insider Buying and Selling at Corning

In other Corning news, EVP Lewis A. Steverson sold 16,646 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president owned 39,759 shares in the company, valued at $2,473,804.98. This trade represents a 29.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Michael Paul O’day sold 14,879 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $62.36, for a total value of $927,854.44. Following the transaction, the senior vice president owned 35,743 shares of the company’s stock, valued at $2,228,933.48. This represents a 29.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 163,950 shares of company stock worth $10,449,192 over the last three months. 0.40% of the stock is owned by company insiders.

Corning Stock Down 0.2%

NYSE GLW opened at $67.24 on Thursday. The stock’s 50 day moving average is $58.15 and its 200 day moving average is $50.89. The company has a current ratio of 1.50, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. Corning Incorporated has a 12 month low of $37.31 and a 12 month high of $67.77. The stock has a market cap of $57.60 billion, a PE ratio of 71.53, a P/E/G ratio of 1.51 and a beta of 1.08.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $3.86 billion for 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 previous year, the firm earned $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Research analysts predict that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, August 29th. Corning’s dividend payout ratio (DPR) is currently 119.15%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on GLW shares. Susquehanna reissued a “positive” rating and issued a $75.00 target price (up from $60.00) on shares of Corning in a report on Wednesday, July 30th. UBS Group increased their target price on shares of Corning from $57.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, August 6th. Morgan Stanley set a $56.00 target price on shares of Corning and gave the stock an “equal weight” rating in a report on Wednesday, July 30th. Barclays increased their target price on shares of Corning from $52.00 to $65.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 30th. Finally, Wolfe Research assumed coverage on Corning in a report on Tuesday, July 8th. They issued an “outperform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Corning has a consensus rating of “Moderate Buy” and an average price target of $65.17.

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.