Corning Incorporated $GLW is Cacti Asset Management LLC’s 9th Largest Position

Cacti Asset Management LLC trimmed its holdings in Corning Incorporated (NYSE:GLW) by 7.2% in the 3rd quarter, Holdings Channel reports. The fund owned 720,532 shares of the electronics maker’s stock after selling 56,025 shares during the quarter. Corning accounts for about 3.8% of Cacti Asset Management LLC’s investment portfolio, making the stock its 9th biggest position. Cacti Asset Management LLC’s holdings in Corning were worth $57,174,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings in shares of Corning by 46.0% during the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock valued at $319,000 after purchasing an additional 2,114 shares during the last quarter. Retirement Planning Co of New England Inc. bought a new position in Corning during the 1st quarter valued at approximately $729,000. Public Sector Pension Investment Board raised its stake in Corning by 7.6% during the first quarter. Public Sector Pension Investment Board now owns 114,667 shares of the electronics maker’s stock valued at $5,249,000 after buying an additional 8,075 shares during the last quarter. Aberdeen Group plc boosted its holdings in Corning by 130.2% in the first quarter. Aberdeen Group plc now owns 544,124 shares of the electronics maker’s stock worth $24,273,000 after acquiring an additional 307,719 shares in the last quarter. Finally, Forvis Mazars Wealth Advisors LLC grew its stake in shares of Corning by 6.8% in the first quarter. Forvis Mazars Wealth Advisors LLC now owns 17,074 shares of the electronics maker’s stock worth $782,000 after acquiring an additional 1,081 shares during the last quarter. 69.80% of the stock is owned by hedge funds and other institutional investors.

Corning Stock Down 8.0%

Corning stock opened at $88.34 on Monday. The stock has a market cap of $75.74 billion, a PE ratio of 55.91, a price-to-earnings-growth ratio of 1.93 and a beta of 1.11. 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 has a fifty day moving average of $85.80 and a 200 day moving average of $70.50. Corning Incorporated has a one year low of $37.31 and a one year high of $96.64.

Corning (NYSE:GLW) last released its quarterly earnings results 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 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 the consensus estimate of $4.24 billion. During the same period in the previous year, the company posted $0.54 EPS. The business’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, sell-side analysts predict that Corning Incorporated will post 2.33 EPS for the current year.

Corning Dividend Announcement

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

Analysts Set New Price Targets

GLW has been the subject of several recent analyst reports. 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. Morgan Stanley set a $82.00 target price on shares of Corning in a report on Wednesday, October 29th. Mizuho set a $97.00 target price on shares of Corning in a research note on Wednesday, October 29th. Citigroup raised their price target on shares of Corning from $93.00 to $99.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, Wall Street Zen lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Saturday, September 13th. One investment 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $91.64.

Insiders Place Their Bets

In other Corning news, EVP Lewis A. Steverson sold 23,142 shares of the stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $89.05, for a total value of $2,060,795.10. Following the transaction, the executive vice president directly owned 17,575 shares in the company, valued at approximately $1,565,053.75. This trade represents a 56.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Stefan Becker sold 12,100 shares of the business’s stock in a transaction 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 sale, the senior vice president directly owned 5,049 shares of the company’s stock, valued at approximately $460,872.72. The trade was a 70.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 173,856 shares of company stock valued at $15,456,476. 0.32% of the stock is currently owned by corporate insiders.

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.