Teacher Retirement System of Texas Decreases Stake in Corning Incorporated $GLW

Teacher Retirement System of Texas cut its stake in shares of Corning Incorporated (NYSE:GLW) by 3.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 264,301 shares of the electronics maker’s stock after selling 8,324 shares during the period. Teacher Retirement System of Texas’ holdings in Corning were worth $21,681,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. REAP Financial Group LLC grew its holdings in Corning by 191.5% during the 2nd quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock worth $27,000 after acquiring an additional 339 shares in the last quarter. Total Investment Management Inc. purchased a new stake in shares of Corning during the 2nd quarter worth $28,000. Financial Management Professionals Inc. grew its stake in shares of Corning by 111.1% during the third quarter. Financial Management Professionals Inc. now owns 380 shares of the electronics maker’s stock worth $31,000 after purchasing an additional 200 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new position in Corning in the second quarter valued at $36,000. Finally, Elevation Point Wealth Partners LLC acquired a new stake in Corning in the second quarter valued at $38,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insider Buying and Selling at Corning

In other Corning news, EVP Lewis A. Steverson sold 23,142 shares of Corning stock in a transaction on Friday, October 31st. The shares were sold at an average price of $89.05, for a total value of $2,060,795.10. Following the transaction, the executive vice president directly owned 17,575 shares in the company, valued at approximately $1,565,053.75. The trade was a 56.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Eric S. Musser sold 100,000 shares of the stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $90.17, for a total transaction of $9,017,000.00. Following the sale, the insider owned 44,926 shares of the company’s stock, valued at $4,050,977.42. This trade represents a 69.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 156,135 shares of company stock valued at $14,088,769. Company insiders own 0.40% of the company’s stock.

Corning Price Performance

Shares of NYSE GLW opened at $93.37 on Friday. The stock has a market cap of $80.05 billion, a P/E ratio of 59.09, a P/E/G ratio of 1.64 and a beta of 1.13. Corning Incorporated has a twelve month low of $37.31 and a twelve month high of $96.64. The stock has a 50 day moving average of $87.63 and a two-hundred day moving average of $78.39. The company has a current ratio of 1.56, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. Corning had a net margin of 9.16% and a return on equity of 18.12%. The business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period last year, the firm posted $0.54 earnings per share. The company’s revenue for the quarter was up 20.9% compared to the same quarter last year. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. On average, research analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current year.

Analysts Set New Price Targets

GLW has been the subject of several analyst reports. Oppenheimer set a $100.00 price objective on Corning and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Wall Street Zen raised Corning from a “hold” rating to a “buy” rating in a report on Friday. Argus increased their price target on shares of Corning from $68.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. JPMorgan Chase & Co. boosted their price objective on shares of Corning from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Finally, Zacks Research cut shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Friday, November 21st. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $93.36.

Corning Profile

Corning Incorporated is a global manufacturer specializing in specialty glass, ceramics and related materials and technologies. Headquartered in Corning, New York, the company supplies engineered materials and components used across multiple industries, including consumer electronics, telecommunications, automotive emissions control, pharmaceutical and life sciences, and industrial and scientific applications. Corning emphasizes materials science and precision manufacturing to develop durable, high-performance glass and ceramic products.

Key product lines include specialty display glass used by television and mobile-device manufacturers, cover glass marketed under well-known trade names for smartphones and tablets, and optical fiber and cable and related hardware for telecommunications networks.