Cerity Partners LLC Trims Stock Position in Corning Incorporated $GLW

Cerity Partners LLC cut its holdings in Corning Incorporated (NYSE:GLW) by 18.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 442,515 shares of the electronics maker’s stock after selling 103,166 shares during the period. Cerity Partners LLC’s holdings in Corning were worth $36,304,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Corning by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 97,952,109 shares of the electronics maker’s stock valued at $5,151,301,000 after purchasing an additional 1,582,895 shares during the last quarter. State Street Corp raised its holdings in Corning by 1.4% in the 2nd quarter. State Street Corp now owns 36,568,973 shares of the electronics maker’s stock valued at $1,923,162,000 after buying an additional 509,013 shares during the period. Geode Capital Management LLC lifted its position in Corning by 0.6% in the second quarter. Geode Capital Management LLC now owns 19,443,525 shares of the electronics maker’s stock valued at $1,018,629,000 after buying an additional 112,739 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Corning by 8.1% in the second quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock valued at $724,432,000 after buying an additional 1,036,988 shares during the last quarter. Finally, Norges Bank purchased a new position in Corning during the second quarter worth about $534,936,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Analyst Upgrades and Downgrades

GLW has been the topic of a number of research analyst reports. UBS Group reissued a “buy” rating and issued a $109.00 price target (up from $100.00) on shares of Corning in a research note on Friday, November 21st. Morgan Stanley lifted their target price on shares of Corning from $82.00 to $98.00 and gave the company an “equal weight” rating in a report on Wednesday, December 17th. Argus boosted their target price on Corning from $68.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. JPMorgan Chase & Co. raised their price target on Corning from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Finally, Susquehanna lifted their price objective on Corning from $75.00 to $100.00 and gave the company a “positive” rating in a research note on Wednesday, October 29th. One equities 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 MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $93.09.

Corning Stock Performance

NYSE:GLW opened at $85.43 on Friday. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $96.64. The company has a fifty day simple moving average of $86.50 and a two-hundred day simple moving average of $75.20. The company has a quick ratio of 1.00, a current ratio of 1.56 and a debt-to-equity ratio of 0.62. The company has a market cap of $73.24 billion, a price-to-earnings ratio of 54.07, a price-to-earnings-growth ratio of 1.60 and a beta of 1.13.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. Corning had a net margin of 9.16% and a return on equity of 18.12%. The firm had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same period in the previous year, the company earned $0.54 earnings per share. Corning’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, equities analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Corning news, CFO Edward A. Schlesinger sold 20,893 shares of Corning stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $91.25, for a total value of $1,906,486.25. Following the transaction, the chief financial officer directly owned 66,959 shares in the company, valued at approximately $6,110,008.75. This trade represents a 23.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Eric S. Musser sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $90.17, for a total value of $9,017,000.00. Following the sale, the insider owned 44,926 shares of the company’s stock, valued at $4,050,977.42. This trade represents a 69.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 156,135 shares of company stock valued at $14,088,769. Company insiders own 0.40% of the company’s stock.

Corning Company Profile

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.