Diversified Trust Co Raises Stock Position in Corning Incorporated $GLW

Diversified Trust Co raised its stake in shares of Corning Incorporated (NYSE:GLW) by 123.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 28,115 shares of the electronics maker’s stock after buying an additional 15,548 shares during the period. Diversified Trust Co’s holdings in Corning were worth $2,306,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in Corning by 46.0% in the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock valued at $319,000 after acquiring an additional 2,114 shares during the period. Retirement Planning Co of New England Inc. purchased a new stake in shares of Corning during the 1st quarter valued at about $729,000. Canada Pension Plan Investment Board increased its position in shares of Corning by 33.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 395,743 shares of the electronics maker’s stock valued at $18,117,000 after purchasing an additional 99,066 shares during the last quarter. Focus Partners Advisor Solutions LLC lifted its stake in shares of Corning by 63.2% in the 1st quarter. Focus Partners Advisor Solutions LLC now owns 20,350 shares of the electronics maker’s stock worth $932,000 after purchasing an additional 7,884 shares during the period. Finally, Federation des caisses Desjardins du Quebec boosted its holdings in shares of Corning by 104.9% in the first quarter. Federation des caisses Desjardins du Quebec now owns 41,364 shares of the electronics maker’s stock worth $1,894,000 after buying an additional 21,173 shares during the last quarter. 69.80% of the stock is owned by institutional investors.

Insider Activity at Corning

In related news, CFO Edward A. Schlesinger sold 20,893 shares of the firm’s stock in a transaction on Friday, October 31st. The shares were 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 of the company’s stock, 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 legal filing with the SEC, which is accessible through this link. Also, EVP Lewis A. Steverson sold 23,142 shares of Corning stock in a transaction on Friday, October 31st. The shares were sold at an average price of $89.05, for a total transaction of $2,060,795.10. Following the completion of the sale, the executive vice president owned 17,575 shares in the company, valued at approximately $1,565,053.75. This represents a 56.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 156,135 shares of company stock valued at $14,088,769. Corporate insiders own 0.32% of the company’s stock.

Corning Trading Down 0.2%

Shares of GLW stock opened at $88.82 on Wednesday. Corning Incorporated has a 52-week low of $37.31 and a 52-week high of $96.64. 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 firm has a market capitalization of $76.15 billion, a PE ratio of 56.21, a PEG ratio of 1.95 and a beta of 1.11. The stock has a fifty day simple moving average of $86.43 and a two-hundred day simple moving average of $73.70.

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

Corning Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have commented on GLW. Barclays upped their target price on shares of Corning from $65.00 to $83.00 and gave the company an “equal weight” rating 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 stock an “overweight” rating in a research note on Wednesday, October 29th. Mizuho set a $97.00 target price on Corning in a research report on Wednesday, October 29th. Wall Street Zen cut Corning from a “strong-buy” rating to a “hold” rating in a research report on Saturday, September 13th. Finally, Oppenheimer set a $100.00 price objective on Corning and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Corning has a consensus rating of “Moderate Buy” and an average target price of $93.09.

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.