Corient Private Wealth LLC Has $11.76 Million Stock Position in Corning Incorporated $GLW

Corient Private Wealth LLC lessened its holdings in shares of Corning Incorporated (NYSE:GLW) by 36.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 223,654 shares of the electronics maker’s stock after selling 126,977 shares during the period. Corient Private Wealth LLC’s holdings in Corning were worth $11,762,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Corning by 1.6% during the second quarter. Vanguard Group Inc. now owns 97,952,109 shares of the electronics maker’s stock valued at $5,151,301,000 after acquiring an additional 1,582,895 shares during the last quarter. Davis Investment Partners LLC acquired a new position in shares of Corning in the 2nd quarter valued at about $251,000. Central Pacific Bank Trust Division boosted its position in shares of Corning by 23.6% during the 2nd quarter. Central Pacific Bank Trust Division now owns 72,982 shares of the electronics maker’s stock valued at $3,838,000 after purchasing an additional 13,920 shares in the last quarter. Schroder Investment Management Group grew its stake in Corning by 638.0% during the second quarter. Schroder Investment Management Group now owns 546,407 shares of the electronics maker’s stock worth $28,736,000 after purchasing an additional 472,365 shares during the period. Finally, Motley Fool Asset Management LLC increased its holdings in Corning by 10.5% in the second quarter. Motley Fool Asset Management LLC now owns 44,037 shares of the electronics maker’s stock worth $2,316,000 after purchasing an additional 4,183 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Trading Up 1.8%

GLW opened at $86.92 on Friday. Corning Incorporated has a fifty-two week low of $37.31 and a fifty-two week high of $96.64. The firm has a market capitalization of $74.52 billion, a PE ratio of 55.01, a P/E/G ratio of 1.87 and a beta of 1.11. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.56 and a quick ratio of 1.00. The company’s 50-day moving average is $85.85 and its 200 day moving average is $71.24.

Corning (NYSE:GLW) last issued its quarterly earnings data on Tuesday, October 28th. The electronics maker reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The firm 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%.The company’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.54 EPS. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. As a group, research analysts predict that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

The company also recently disclosed 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 payout ratio is currently 70.89%.

Analysts Set New Price Targets

GLW has been the topic of a number of research analyst reports. Mizuho set a $97.00 price target on Corning in a report on Wednesday, October 29th. Susquehanna increased their target price on shares of Corning from $75.00 to $100.00 and gave the stock a “positive” rating in a research note on Wednesday, October 29th. Morgan Stanley raised their price target on shares of Corning from $82.00 to $98.00 and gave the stock an “equal weight” rating in a report on Wednesday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Corning in a report on Monday. Finally, JPMorgan Chase & Co. raised their target price on Corning from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $93.09.

Insider Activity

In other Corning news, CFO Edward A. Schlesinger sold 20,893 shares of the company’s 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 directly owned 66,959 shares of the company’s stock, valued at approximately $6,110,008.75. This represents a 23.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Stefan Becker sold 12,100 shares of the stock in a transaction dated 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 owned 5,049 shares of the company’s stock, valued at approximately $460,872.72. This trade represents a 70.56% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 156,135 shares of company stock worth $14,088,769. 0.40% of the stock is owned by insiders.

Corning Company 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.