Ceredex Value Advisors LLC Makes New Investment in Corning Incorporated $GLW

Ceredex Value Advisors LLC acquired a new stake in Corning Incorporated (NYSE:GLW) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 594,100 shares of the electronics maker’s stock, valued at approximately $31,244,000.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC raised its stake in Corning by 46.0% in the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock valued at $319,000 after purchasing an additional 2,114 shares in the last quarter. Retirement Planning Co of New England Inc. acquired a new stake in Corning during the first quarter worth about $729,000. AE Wealth Management LLC increased its holdings in Corning by 32.2% in the 1st quarter. AE Wealth Management LLC now owns 6,476 shares of the electronics maker’s stock valued at $296,000 after buying an additional 1,576 shares during the period. Cetera Investment Advisers raised its position in shares of Corning by 9.8% in the 1st quarter. Cetera Investment Advisers now owns 217,101 shares of the electronics maker’s stock valued at $9,939,000 after buying an additional 19,312 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Corning by 2.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 166,717 shares of the electronics maker’s stock valued at $7,632,000 after buying an additional 4,572 shares in the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Corning

In related news, insider Eric S. Musser sold 100,000 shares of the business’s stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $90.17, for a total value 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. The trade was a 69.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Lewis A. Steverson sold 23,142 shares of the firm’s stock in a transaction on Friday, October 31st. The stock was 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 of the company’s stock, valued at approximately $1,565,053.75. This represents a 56.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 173,856 shares of company stock worth $15,456,476. 0.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently issued reports on GLW. Morgan Stanley set a $82.00 price target on shares of Corning in a research report on Wednesday, October 29th. UBS Group reaffirmed a “buy” rating and issued a $109.00 target price (up previously from $100.00) on shares of Corning in a report on Friday, November 21st. Barclays lifted their price target on Corning from $65.00 to $83.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 29th. Wall Street Zen downgraded Corning from a “strong-buy” rating to a “hold” rating in a research report on Saturday, September 13th. Finally, Argus raised their price objective on Corning from $68.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $91.64.

Corning Price Performance

Corning stock opened at $83.68 on Friday. The stock has a 50-day moving average price of $84.32 and a two-hundred day moving average price of $67.18. Corning Incorporated has a 12 month low of $37.31 and a 12 month high of $92.57. The company has a market capitalization of $71.75 billion, a PE ratio of 52.96, a P/E/G ratio of 1.99 and a beta of 1.15. The company has a current ratio of 1.56, a quick ratio of 0.93 and a debt-to-equity ratio of 0.62.

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

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 14th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, November 14th. Corning’s dividend payout ratio is 70.89%.

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.