Choreo LLC Reduces Stock Position in Corning Incorporated $GLW

Choreo LLC reduced its stake in Corning Incorporated (NYSE:GLW) by 8.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,876 shares of the electronics maker’s stock after selling 1,704 shares during the period. Choreo LLC’s holdings in Corning were worth $940,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Corning by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 97,952,109 shares of the electronics maker’s stock valued at $5,151,301,000 after purchasing an additional 1,582,895 shares in the last quarter. Davis Investment Partners LLC bought a new stake in Corning in the second quarter worth $251,000. Central Pacific Bank Trust Division boosted its position in Corning by 23.6% during the second 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. Motley Fool Asset Management LLC grew its stake in shares of Corning by 10.5% during the second quarter. Motley Fool Asset Management LLC now owns 44,037 shares of the electronics maker’s stock valued at $2,316,000 after buying an additional 4,183 shares during the last quarter. Finally, Strs Ohio purchased a new position in shares of Corning in the first quarter worth about $27,219,000. 69.80% of the stock is currently owned by institutional investors.

Corning Stock Performance

Shares of GLW stock opened at $84.16 on Monday. The firm has a market capitalization of $72.15 billion, a price-to-earnings ratio of 53.26, a PEG ratio of 1.99 and a beta of 1.15. The stock has a fifty day moving average of $84.41 and a 200 day moving average of $67.72. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $92.57. The company has a quick ratio of 0.93, a current ratio of 1.56 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last issued its quarterly earnings data on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. Corning had a net margin of 9.16% and a return on equity of 18.12%. The business had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same period in the previous year, the firm earned $0.54 EPS. The company’s quarterly revenue was up 20.9% compared to the same quarter last year. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. As a group, research analysts expect that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Announces Dividend

The business also recently declared 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. This represents a $1.12 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, November 14th. Corning’s dividend payout ratio is presently 70.89%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GLW. Morgan Stanley set a $82.00 target price on Corning in a report on Wednesday, October 29th. Wall Street Zen lowered Corning from a “strong-buy” rating to a “hold” rating in a research note on Saturday, September 13th. JPMorgan Chase & Co. raised their target price on shares of Corning from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Corning in a report on Tuesday, November 25th. Finally, Oppenheimer set a $100.00 price target on shares of Corning and gave the company an “outperform” rating in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $91.64.

Insiders Place Their Bets

In other Corning news, SVP Jaymin Amin sold 17,721 shares of Corning stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $77.18, for a total transaction of $1,367,706.78. Following the sale, the senior vice president directly owned 88,722 shares of the company’s stock, valued at approximately $6,847,563.96. The trade was a 16.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Stefan Becker sold 12,100 shares of the stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $91.28, for a total value of $1,104,488.00. Following the completion of the transaction, the senior vice president directly owned 5,049 shares of the company’s stock, valued at $460,872.72. This represents a 70.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 173,856 shares of company stock valued at $15,456,476 over the last ninety days. 0.40% of the stock is owned by corporate insiders.

Corning Profile

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.