Corning Incorporated $GLW Stock Sold by Bahl & Gaynor LLC

Bahl & Gaynor LLC lowered its position in shares of Corning Incorporated (NYSE:GLW) by 13.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 546,887 shares of the electronics maker’s stock after selling 83,454 shares during the quarter. Bahl & Gaynor LLC’s holdings in Corning were worth $84,089,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Alliance Wealth Advisors LLC boosted its holdings in shares of Corning by 1.4% in the second quarter. Alliance Wealth Advisors LLC now owns 4,045 shares of the electronics maker’s stock valued at $1,033,000 after acquiring an additional 56 shares in the last quarter. Ares Financial Consulting LLC raised its holdings in Corning by 15.6% during the second quarter. Ares Financial Consulting LLC now owns 444 shares of the electronics maker’s stock worth $113,000 after purchasing an additional 60 shares in the last quarter. Signature Equity Partners LLC lifted its position in Corning by 19.3% in the first quarter. Signature Equity Partners LLC now owns 383 shares of the electronics maker’s stock valued at $52,000 after purchasing an additional 62 shares during the period. Balefire LLC lifted its position in Corning by 0.7% in the first quarter. Balefire LLC now owns 9,595 shares of the electronics maker’s stock valued at $1,305,000 after purchasing an additional 65 shares during the period. Finally, Geneos Wealth Management Inc. boosted its holdings in Corning by 1.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 4,585 shares of the electronics maker’s stock valued at $623,000 after purchasing an additional 70 shares in the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Stock Performance

GLW opened at $112.21 on Wednesday. The stock has a market cap of $96.66 billion, a P/E ratio of 45.43, a P/E/G ratio of 1.43 and a beta of 1.23. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.72 and a quick ratio of 1.17. The stock’s 50 day simple moving average is $143.08 and its 200 day simple moving average is $155.76. Corning Incorporated has a 1-year low of $77.39 and a 1-year high of $271.78.

Corning (NYSE:GLW) last issued its quarterly earnings data on Tuesday, October 27th. The electronics maker reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. The firm had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $5.03 billion. Corning had a return on equity of 20.83% and a net margin of 12.13%. Corning’s revenue was up 18.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.67 earnings per share. As a group, equities analysts anticipate that Corning Incorporated will post 3.38 EPS for the current fiscal year.

Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 13th will be given a $0.28 dividend. The ex-dividend date is Friday, November 13th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.0%. Corning’s dividend payout ratio (DPR) is currently 45.34%.

Analyst Ratings Changes

Several equities analysts have issued reports on GLW shares. Mizuho dropped their target price on Corning from $210.00 to $180.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 15th. Fox Advisors raised Corning from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 5th. Bank of America reduced their price target on Corning from $243.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, July 29th. Citigroup restated a “buy” rating on shares of Corning in a research note on Tuesday, October 27th. Finally, Zacks Research raised Corning from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 28th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $174.56.

Corning News Summary

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning’s shares gained 32.5% over the past year, outperforming both its industry and the S&P 500, with AI infrastructure demand, optical communications growth, and solar expansion cited as drivers. GLW Stock Rises 32.5% in a Year: Is There Still Room to Grow?
• Positive Sentiment: Forty ETFs bought Corning shares on Nov. 5, while 16 sold, resulting in a reported net $47.6 million inflow. ETFs Bought $47.6 Million of Corning
• Neutral Sentiment: A technical analysis article describes GLW as oversold, suggesting the possibility of a bounce, but says the stock’s broader trend remains weak. Corning Stock Price Prediction
• Negative Sentiment: Coverage says the AI “picks-and-shovels” trade is retreating, a shift that can weigh on Corning given investor interest in its AI-related infrastructure exposure. The AI Picks-and-Shovels Trade Caves In
• Negative Sentiment: Sanford C. Bernstein cut its GLW price target to $120 from $140 and maintained a “market perform” rating, signaling more cautious expectations. Corning Price Targets

Insider Activity

In other news, EVP Lewis Steverson sold 13,100 shares of Corning stock in a transaction on Friday, August 28th. The stock was sold at an average price of $151.29, for a total transaction of $1,981,899.00. Following the completion of the transaction, the executive vice president owned 15,052 shares of the company’s stock, valued at $2,277,217.08. The trade was a 46.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.25% of the stock is owned by company insiders.

About Corning

Corning Incorporated is a materials science and technology company with roots dating to 1851, when it was established as Corning Glass Works. The company develops and manufactures specialty glass, ceramics and optical materials for customers in a range of industries. Its products include optical fiber, cable and connectivity solutions for communications networks; glass substrates used in display technologies; and specialty glass such as Gorilla Glass for consumer electronics. Corning also makes ceramic substrates and filters for emissions-control systems, as well as glassware and other products for life sciences and laboratory use.