Corning Incorporated $GLW Shares Sold by Genus Capital Management Inc.

Genus Capital Management Inc. cut its stake in shares of Corning Incorporated (NYSE:GLW) by 53.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,360 shares of the electronics maker’s stock after selling 115,475 shares during the quarter. Genus Capital Management Inc.’s holdings in Corning were worth $5,225,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. REAP Financial Group LLC grew its stake in Corning by 191.5% during the 2nd quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock valued at $27,000 after purchasing an additional 339 shares during the last quarter. Investment Management Corp VA ADV grew its stake in Corning by 165.9% during the 1st quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 463 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its stake in Corning by 90.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 353 shares during the last quarter. Resources Management Corp CT ADV grew its stake in Corning by 66.7% during the 1st quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 300 shares during the last quarter. Finally, Gen Wealth Partners Inc grew its stake in Corning by 151.7% during the 1st quarter. Gen Wealth Partners Inc now owns 755 shares of the electronics maker’s stock valued at $35,000 after purchasing an additional 455 shares during the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Corning

In other news, SVP Stefan Becker sold 12,100 shares of the firm’s stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $91.28, for a total transaction of $1,104,488.00. Following the sale, the senior vice president owned 5,049 shares of the company’s stock, valued at $460,872.72. This trade represents a 70.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Edward A. Schlesinger sold 20,893 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $91.25, for a total transaction of $1,906,486.25. Following the sale, the chief financial officer directly owned 66,959 shares in the company, valued at $6,110,008.75. The trade was a 23.78% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 255,959 shares of company stock worth $20,808,771. 0.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on GLW shares. Wolfe Research started coverage on shares of Corning in a report on Tuesday, July 8th. They issued an “outperform” rating on the stock. Mizuho set a $97.00 price target on shares of Corning in a report on Wednesday, October 29th. JPMorgan Chase & Co. increased their price target on shares of Corning from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Susquehanna increased their price target on shares of Corning from $75.00 to $100.00 and gave the stock a “positive” rating in a report on Wednesday, October 29th. Finally, Oppenheimer set a $100.00 price target on shares of Corning and gave the stock an “outperform” rating in a report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Corning currently has a consensus rating of “Moderate Buy” and an average target price of $90.82.

Corning Price Performance

Shares of NYSE GLW opened at $85.17 on Wednesday. The stock has a market capitalization of $72.96 billion, a price-to-earnings ratio of 53.91, a PEG ratio of 1.99 and a beta of 1.14. Corning Incorporated has a 12 month low of $37.31 and a 12 month high of $92.57. The firm’s 50 day simple moving average is $80.54 and its 200-day simple moving average is $62.76. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.56 and a quick ratio of 0.93.

Corning (NYSE:GLW) last issued its quarterly earnings data on Tuesday, October 28th. The electronics maker reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The business had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $4.24 billion. Corning had a net margin of 9.16% and a return on equity of 18.12%. The business’s revenue was up 20.9% on a year-over-year basis. During the same quarter last year, the company earned $0.54 EPS. 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 Announces Dividend

The company 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 dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.3%. Corning’s dividend payout ratio (DPR) is presently 70.89%.

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.