Corrado Advisors LLC Decreases Stake in Corning Incorporated $GLW

Corrado Advisors LLC reduced its stake in shares of Corning Incorporated (NYSE:GLW) by 2.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 32,534 shares of the electronics maker’s stock after selling 973 shares during the period. Corrado Advisors LLC’s holdings in Corning were worth $1,711,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in GLW. Amundi boosted its position in shares of Corning by 64.3% during the 1st quarter. Amundi now owns 6,408,605 shares of the electronics maker’s stock worth $271,237,000 after purchasing an additional 2,507,797 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Corning during the 1st quarter worth $104,789,000. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Corning during the 2nd quarter worth $92,560,000. Robeco Institutional Asset Management B.V. boosted its position in shares of Corning by 185.7% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,801,411 shares of the electronics maker’s stock worth $94,736,000 after purchasing an additional 1,170,992 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in shares of Corning by 37.1% during the 1st quarter. Deutsche Bank AG now owns 3,835,799 shares of the electronics maker’s stock worth $175,603,000 after purchasing an additional 1,037,875 shares in the last quarter. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Wendell P. Weeks sold 82,103 shares of the business’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $65.19, for a total value of $5,352,294.57. Following the completion of the transaction, the chief executive officer owned 809,295 shares of the company’s stock, valued at approximately $52,757,941.05. The trade was a 9.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jaymin Amin sold 17,721 shares of the business’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $77.18, for a total transaction of $1,367,706.78. Following the completion of the transaction, the senior vice president directly owned 88,722 shares of the company’s stock, valued at $6,847,563.96. The trade was a 16.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.32% of the company’s stock.

Corning Trading Down 3.2%

Shares of GLW stock opened at $86.53 on Wednesday. The firm has a 50-day moving average price of $78.28 and a 200 day moving average price of $60.97. Corning Incorporated has a twelve month low of $37.31 and a twelve month high of $89.77. The company has a market capitalization of $74.12 billion, a price-to-earnings ratio of 92.05, a PEG ratio of 2.00 and a beta of 1.14. The company has a current ratio of 1.50, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.01. Corning had a net margin of 5.77% and a return on equity of 17.27%. The firm had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the previous year, the company posted $0.54 EPS. The firm’s revenue for the quarter was up 20.9% on a year-over-year basis. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. Research analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Citigroup lifted their price target on Corning from $72.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Morgan Stanley lifted their price target on Corning from $56.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, October 10th. Argus reaffirmed a “buy” rating and set a $68.00 price target on shares of Corning in a research note on Wednesday, July 30th. UBS Group lifted their price target on Corning from $84.00 to $91.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Finally, Wall Street Zen downgraded Corning from a “strong-buy” rating to a “hold” rating in a research note on Saturday, September 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

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.