Blair William & Co. IL Has $15.05 Million Stake in Corning Incorporated $GLW

Blair William & Co. IL reduced its stake in shares of Corning Incorporated (NYSE:GLW) by 5.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 286,220 shares of the electronics maker’s stock after selling 17,197 shares during the period. Blair William & Co. IL’s holdings in Corning were worth $15,052,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Davis Investment Partners LLC purchased a new position in Corning during the 2nd quarter worth $251,000. Central Pacific Bank Trust Division increased its stake in Corning by 23.6% in the 2nd quarter. Central Pacific Bank Trust Division now owns 72,982 shares of the electronics maker’s stock valued at $3,838,000 after buying an additional 13,920 shares during the last quarter. Strs Ohio purchased a new stake in Corning in the 1st quarter valued at about $27,219,000. Acadian Asset Management LLC lifted its position in shares of Corning by 4,346.5% during the 1st quarter. Acadian Asset Management LLC now owns 153,984 shares of the electronics maker’s stock worth $7,048,000 after buying an additional 150,521 shares in the last quarter. Finally, Intech Investment Management LLC grew its holdings in shares of Corning by 507.6% in the first quarter. Intech Investment Management LLC now owns 211,124 shares of the electronics maker’s stock valued at $9,665,000 after acquiring an additional 176,379 shares in the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Insider Transactions at Corning

In other news, EVP Lewis A. Steverson sold 16,646 shares of Corning 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 owned 39,759 shares in the company, valued at approximately $2,473,804.98. This trade represents a 29.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Avery H. Nelson III sold 36,240 shares of the company’s stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $62.26, for a total transaction of $2,256,302.40. Following the completion of the transaction, 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. Over the last quarter, insiders have sold 181,671 shares of company stock worth $11,816,899. 0.40% of the stock is owned by insiders.

Corning Trading Down 4.8%

Shares of Corning stock opened at $83.00 on Friday. The company’s 50-day moving average price is $73.19 and its 200-day moving average price is $57.18. 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 $87.78. The company has a market cap of $71.10 billion, a price-to-earnings ratio of 88.30, a PEG ratio of 1.95 and a beta of 1.14.

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. Corning had a net margin of 5.77% and a return on equity of 17.27%. The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.84 billion. During the same quarter in the prior year, the firm posted $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. On average, equities analysts expect that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Dividend Announcement

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

Analyst Ratings Changes

GLW has been the topic of several research analyst reports. Susquehanna reissued a “positive” rating and issued a $75.00 price objective (up previously from $60.00) on shares of Corning in a research report on Wednesday, July 30th. Wolfe Research assumed coverage on shares of Corning in a research report on Tuesday, July 8th. They set an “outperform” rating for the company. Mizuho lifted their price objective on shares of Corning from $74.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, October 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Corning in a research report on Wednesday. Finally, Oppenheimer restated an “outperform” rating and set a $72.00 price target (up previously from $55.00) on shares of Corning in a research note 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 issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price 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.