First Trust Advisors LP Has $51.40 Million Stock Holdings in Corning Incorporated $GLW

First Trust Advisors LP trimmed its position in shares of Corning Incorporated (NYSE:GLW) by 3.9% in the 2nd quarter, Holdings Channel.com reports. The fund owned 977,319 shares of the electronics maker’s stock after selling 39,302 shares during the quarter. First Trust Advisors LP’s holdings in Corning were worth $51,397,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. REAP Financial Group LLC raised its stake in shares of Corning by 191.5% during the 2nd quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock worth $27,000 after purchasing an additional 339 shares in the last quarter. Banque Transatlantique SA acquired a new position in Corning in the first quarter worth approximately $34,000. Resources Management Corp CT ADV raised its position in 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 lifted its stake in Corning by 151.7% in the first quarter. Gen Wealth Partners Inc now owns 755 shares of the electronics maker’s stock valued at $35,000 after acquiring an additional 455 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in Corning in the second quarter worth approximately $36,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Corning Trading Up 0.6%

Shares of NYSE:GLW opened at $85.96 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.56. The stock’s 50-day moving average is $84.88 and its 200-day moving average is $69.00. The company has a market cap of $73.70 billion, a P/E ratio of 54.41, a P/E/G ratio of 1.88 and a beta of 1.11. Corning Incorporated has a 52-week low of $37.31 and a 52-week high of $92.57.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.01. Corning had a return on equity of 18.12% and a net margin of 9.16%.The business had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the previous year, the firm earned $0.54 EPS. The firm’s 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. Equities research analysts predict that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Announces Dividend

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

Insider Activity

In related news, CFO Edward A. Schlesinger sold 20,893 shares of the stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $91.25, for a total value of $1,906,486.25. Following the completion of the sale, the chief financial officer owned 66,959 shares in the company, valued at approximately $6,110,008.75. This trade represents a 23.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eric S. Musser sold 100,000 shares of the business’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $90.17, for a total value of $9,017,000.00. Following the transaction, the insider owned 44,926 shares in the company, valued at $4,050,977.42. This represents a 69.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 173,856 shares of company stock worth $15,456,476. Corporate insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

GLW has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their price target on shares of Corning from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Citigroup increased their target price on shares of Corning from $93.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. UBS Group reaffirmed a “buy” rating and issued a $109.00 price target (up previously from $100.00) on shares of Corning in a research report on Friday, November 21st. Barclays increased their price objective on Corning from $65.00 to $83.00 and gave the company an “equal weight” rating in a report on Wednesday, October 29th. Finally, Wall Street Zen lowered Corning from a “strong-buy” rating to a “hold” rating in a report on Saturday, September 13th. 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.64.

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.