Corning Incorporated $GLW Shares Sold by Belpointe Asset Management LLC

Belpointe Asset Management LLC lessened its stake in Corning Incorporated (NYSE:GLW) by 12.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,549 shares of the electronics maker’s stock after selling 953 shares during the quarter. Belpointe Asset Management LLC’s holdings in Corning were worth $344,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Davis Investment Partners LLC acquired a new position in Corning in the 2nd quarter valued at approximately $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 period. Strs Ohio acquired a new position in Corning in the 1st quarter valued at approximately $27,219,000. Acadian Asset Management LLC increased its stake in Corning by 4,346.5% in the 1st quarter. Acadian Asset Management LLC now owns 153,984 shares of the electronics maker’s stock valued at $7,048,000 after buying an additional 150,521 shares during the period. Finally, Intech Investment Management LLC increased its stake in Corning by 507.6% in the 1st quarter. Intech Investment Management LLC now owns 211,124 shares of the electronics maker’s stock valued at $9,665,000 after buying an additional 176,379 shares during the period. Institutional investors and hedge funds own 69.80% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on GLW shares. Susquehanna restated a “positive” rating and set a $75.00 price target (up previously from $60.00) on shares of Corning in a 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. Citigroup boosted their price target on Corning from $72.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Oppenheimer reissued an “outperform” rating and set a $72.00 price objective (up previously from $55.00) on shares of Corning in a report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. boosted their target price on Corning from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

Corning Trading Down 4.8%

Shares of GLW stock opened at $83.00 on Friday. Corning Incorporated has a 12 month low of $37.31 and a 12 month high of $87.78. The company has a quick ratio of 0.93, a current ratio of 1.50 and a debt-to-equity ratio of 0.58. The business’s 50 day moving average is $73.19 and its two-hundred day moving average is $57.18. The company has a market cap of $71.10 billion, a PE ratio of 88.30, a price-to-earnings-growth ratio of 1.95 and a beta of 1.14.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. Corning had a return on equity of 17.27% and a net margin of 5.77%.The company had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same quarter last year, the company posted $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Equities analysts predict that Corning Incorporated will post 2.33 EPS for the current year.

Corning Dividend Announcement

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

Insiders Place Their Bets

In other news, COO Avery H. Nelson III sold 36,240 shares of the firm’s stock in a transaction on 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 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Wendell P. Weeks sold 82,103 shares of the firm’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $65.19, for a total transaction of $5,352,294.57. Following the completion of the sale, the chief executive officer owned 809,295 shares in the company, valued at approximately $52,757,941.05. The trade was a 9.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 181,671 shares of company stock valued at $11,816,899 in the last 90 days. 0.40% of the stock is currently owned by corporate insiders.

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.