California Public Employees Retirement System Cuts Position in Corning Incorporated $GLW

California Public Employees Retirement System decreased its holdings in shares of Corning Incorporated (NYSE:GLW) by 16.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,831,234 shares of the electronics maker’s stock after selling 540,003 shares during the period. California Public Employees Retirement System’s holdings in Corning were worth $148,895,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in GLW. REAP Financial Group LLC increased its position 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 buying an additional 339 shares in the last quarter. Banque Transatlantique SA purchased a new stake in shares of Corning in the first quarter worth $34,000. Resources Management Corp CT ADV increased its holdings in shares of Corning by 66.7% during the first quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker’s stock valued at $34,000 after acquiring an additional 300 shares in the last quarter. Gen Wealth Partners Inc raised its position in shares of Corning by 151.7% in the 1st quarter. Gen Wealth Partners Inc now owns 755 shares of the electronics maker’s stock worth $35,000 after purchasing an additional 455 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC bought a new position in Corning in the 2nd quarter worth about $36,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Corning Price Performance

Shares of GLW opened at $85.96 on Monday. The firm has a fifty day simple moving average of $84.88 and a two-hundred day simple moving average of $69.00. The firm has a market cap of $73.70 billion, a PE ratio of 54.41, a P/E/G ratio of 1.88 and a beta of 1.11. The company has a current ratio of 1.56, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62. Corning Incorporated has a 1-year low of $37.31 and a 1-year high of $92.57.

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

Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 14th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, November 14th. Corning’s payout ratio is currently 70.89%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on GLW shares. Susquehanna lifted their target price on shares of Corning from $75.00 to $100.00 and gave the stock a “positive” rating in a report on Wednesday, October 29th. Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a research report on Monday, December 1st. Morgan Stanley set a $82.00 price objective on Corning in a research report on Wednesday, October 29th. Oppenheimer set a $100.00 target price on Corning and gave the stock an “outperform” rating in a report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. boosted their price target on Corning from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.64.

Insider Activity

In other Corning news, SVP Stefan Becker sold 12,100 shares of the company’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 completion of the sale, the senior vice president directly owned 5,049 shares of the company’s stock, valued at approximately $460,872.72. This represents a 70.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Edward A. Schlesinger sold 20,893 shares of Corning stock in a transaction 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 transaction, the chief financial officer owned 66,959 shares in the company, valued at $6,110,008.75. This represents a 23.78% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 173,856 shares of company stock worth $15,456,476. Company insiders own 0.32% of the company’s stock.

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.