Corning Incorporated $GLW Shares Sold by Payden & Rygel

Payden & Rygel decreased its stake in shares of Corning Incorporated (NYSE:GLW) by 22.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 96,700 shares of the electronics maker’s stock after selling 28,100 shares during the period. Payden & Rygel’s holdings in Corning were worth $14,869,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Bank of New York Mellon Corp bought a new stake in shares of Corning in the 2nd quarter worth approximately $1,510,911,000. State Street Corp lifted its stake in shares of Corning by 13.4% in the 2nd quarter. State Street Corp now owns 41,108,384 shares of the electronics maker’s stock valued at $10,500,315,000 after purchasing an additional 4,845,027 shares during the last quarter. Legal & General Group Plc bought a new position in shares of Corning in the second quarter valued at approximately $1,212,283,000. Wellington Management Group LLP boosted its position in shares of Corning by 50.9% in the second quarter. Wellington Management Group LLP now owns 13,174,194 shares of the electronics maker’s stock valued at $3,365,084,000 after acquiring an additional 4,446,514 shares during the period. Finally, Bank of America Corp DE increased its stake in Corning by 29.2% during the second quarter. Bank of America Corp DE now owns 18,730,616 shares of the electronics maker’s stock valued at $4,784,361,000 after acquiring an additional 4,231,507 shares during the period. 69.80% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Corning

In other Corning news, EVP Lewis Steverson sold 13,100 shares of the firm’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $151.29, for a total value of $1,981,899.00. Following the completion of the transaction, the executive vice president directly owned 15,052 shares of the company’s stock, valued at $2,277,217.08. This trade represents a 46.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GLW. China Renaissance upgraded Corning from a “hold” rating to a “buy” rating and set a $238.00 target price on the stock in a report on Tuesday, September 8th. Barclays lifted their price target on shares of Corning from $129.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Citigroup restated a “buy” rating on shares of Corning in a report on Tuesday. Morgan Stanley dropped their target price on Corning from $165.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, Bank of America lowered their target price on Corning from $243.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Corning presently has an average rating of “Moderate Buy” and an average target price of $175.81.

More Corning News

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning’s third-quarter sales increased roughly 19% year over year, while earnings exceeded estimates. Growth in Optical Communications, improving margins and demand from AI data-center customers supported the results and the company’s outlook. Corning Q3 Sales Jump 19% as AI Optical Demand and Margins Accelerate
• Positive Sentiment: Zacks Research upgraded GLW from “hold” to “strong-buy,” and Truist Financial reaffirmed its “buy” rating. These actions indicate that some analysts continue to view AI-driven photonics growth and stronger execution as attractive catalysts. Zacks Research Stock Recommendations Corning Stock Rating Reaffirmed as Buy by Truist Financial
• Positive Sentiment: Reports highlight completed production expansion and major customer opportunities, although the valuation benefit depends on Corning converting higher demand into sustained profit-margin improvement. Morgan Stanley Report on Corning’s Production Expansion
• Neutral Sentiment: Corning was featured among dividend-growth stocks with solid fundamentals, but the broader article does not represent a company-specific catalyst. Dividend Growth Stocks Article
• Negative Sentiment: Morgan Stanley lowered its expectations for Corning’s stock, while a separate fair-value estimate fell from $189.94 to $182.76. The revisions reflect concerns about elevated valuation, execution risk and whether AI-related growth can justify the stock’s premium multiple. Morgan Stanley Lowers Expectations for Corning Corning Fair Value Edges Lower
• Negative Sentiment: Exchange-traded funds were reported as net sellers of GLW, adding near-term technical pressure. The stock also remains below its 50- and 200-day moving averages, while its high price-to-earnings ratio leaves it vulnerable to further profit-taking. ETFs Are Net Sellers of Corning

Corning Price Performance

Shares of NYSE GLW opened at $123.29 on Friday. Corning Incorporated has a twelve month low of $77.39 and a twelve month high of $271.78. The company has a quick ratio of 1.24, a current ratio of 1.72 and a debt-to-equity ratio of 0.51. The firm has a fifty day simple moving average of $147.88 and a 200 day simple moving average of $154.97. The company has a market capitalization of $106.20 billion, a PE ratio of 49.92, a P/E/G ratio of 1.59 and a beta of 1.13.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, October 27th. The electronics maker reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. Corning had a net margin of 12.13% and a return on equity of 20.83%. The firm had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same period in the previous year, the firm posted $0.67 earnings per share. The business’s revenue was up 18.9% compared to the same quarter last year. On average, sell-side analysts forecast that Corning Incorporated will post 3.37 EPS for the current year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 13th will be paid a $0.28 dividend. The ex-dividend date is Friday, November 13th. This represents a $1.12 annualized dividend and a dividend yield of 0.9%. Corning’s dividend payout ratio (DPR) is presently 45.34%.

Corning Company Profile

Corning Incorporated (NYSE: GLW) is a technology company that develops and manufactures specialty glass, ceramics and optical-fiber products. Its materials and engineering expertise support communications networks, consumer electronics, automotive systems, life sciences and other industrial applications.

The company’s products include optical fiber, cable and connectivity solutions used in telecommunications infrastructure; glass substrates for televisions, computer monitors and other displays; durable cover glass for mobile devices; emissions-control components for vehicles; laboratory glassware and consumables; and specialized glass and ceramic materials for scientific, industrial and semiconductor applications.

Founded in 1851 and headquartered in Corning, New York, the company serves customers through operations and facilities across North America, Europe, Asia and other international markets.