Cohen Klingenstein LLC Sells 27,800 Shares of Corning Incorporated $GLW

Cohen Klingenstein LLC cut its position in shares of Corning Incorporated (NYSE:GLW) by 55.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,130 shares of the electronics maker’s stock after selling 27,800 shares during the quarter. Cohen Klingenstein LLC’s holdings in Corning were worth $1,815,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in GLW. Financial Management Professionals Inc. lifted its position in shares of Corning by 111.1% during the 3rd quarter. Financial Management Professionals Inc. now owns 380 shares of the electronics maker’s stock worth $31,000 after buying an additional 200 shares in the last quarter. REAP Financial Group LLC increased its position in shares of Corning by 191.5% during the second quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock valued at $27,000 after acquiring an additional 339 shares during the last quarter. Total Investment Management Inc. bought a new stake in Corning during the second quarter worth $28,000. Twin Peaks Wealth Advisors LLC purchased a new position in Corning in the second quarter worth $36,000. Finally, Elevation Point Wealth Partners LLC bought a new position in Corning in the 2nd quarter valued at $38,000. 69.80% of the stock is owned by institutional investors.

Insider Activity

In other news, 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 completion of the transaction, the senior vice president directly owned 5,049 shares in the company, valued at $460,872.72. The trade was a 70.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Edward A. Schlesinger sold 20,893 shares of the company’s 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 completion of the transaction, the chief financial officer directly owned 66,959 shares in the company, valued at approximately $6,110,008.75. The trade was a 23.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 156,135 shares of company stock worth $14,088,769 in the last three months. Insiders own 0.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GLW. Argus lifted their target price on Corning from $68.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Barclays boosted their target price on shares of Corning from $65.00 to $83.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 29th. Mizuho set a $97.00 price target on shares of Corning in a report on Wednesday, October 29th. JPMorgan Chase & Co. upped their price objective on Corning from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Finally, Morgan Stanley raised their target price on Corning from $82.00 to $98.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Corning currently has a consensus rating of “Moderate Buy” and an average target price of $93.09.

Corning Price Performance

Corning stock opened at $89.58 on Friday. Corning Incorporated has a one year low of $37.31 and a one year high of $96.64. The business has a fifty day moving average price of $86.31 and a 200-day moving average price of $72.84. 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 firm has a market capitalization of $76.80 billion, a P/E ratio of 56.69, a PEG ratio of 1.96 and a beta of 1.11.

Corning (NYSE:GLW) last released 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 return on equity of 18.12% and a net margin of 9.16%.The company had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period in the previous year, the company posted $0.54 EPS. The firm’s revenue for the quarter 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, equities research analysts forecast that Corning Incorporated will post 2.33 EPS for the current year.

Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 14th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Friday, November 14th. Corning’s dividend payout ratio (DPR) is 70.89%.

About Corning

Corning Incorporated is a global manufacturer specializing in specialty glass, ceramics and related materials and technologies. Headquartered in Corning, New York, the company supplies engineered materials and components used across multiple industries, including consumer electronics, telecommunications, automotive emissions control, pharmaceutical and life sciences, and industrial and scientific applications. Corning emphasizes materials science and precision manufacturing to develop durable, high-performance glass and ceramic products.

Key product lines include specialty display glass used by television and mobile-device manufacturers, cover glass marketed under well-known trade names for smartphones and tablets, and optical fiber and cable and related hardware for telecommunications networks.