Conning Inc. Cuts Holdings in Corning Incorporated $GLW

Conning Inc. cut its stake in Corning Incorporated (NYSE:GLW) by 31.4% in the third quarter, Holdings Channel reports. The institutional investor owned 461,775 shares of the electronics maker’s stock after selling 211,401 shares during the period. Corning makes up about 1.3% of Conning Inc.’s investment portfolio, making the stock its 7th biggest holding. Conning Inc.’s holdings in Corning were worth $37,879,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vista Investment Partners LLC lifted its holdings in shares of Corning by 1.3% in the 3rd quarter. Vista Investment Partners LLC now owns 9,496 shares of the electronics maker’s stock worth $779,000 after acquiring an additional 119 shares during the last quarter. Sapient Capital LLC raised its position in Corning by 2.2% in the 3rd quarter. Sapient Capital LLC now owns 5,626 shares of the electronics maker’s stock worth $452,000 after purchasing an additional 120 shares during the period. Sivia Capital Partners LLC lifted its stake in Corning by 1.6% in the third quarter. Sivia Capital Partners LLC now owns 7,740 shares of the electronics maker’s stock worth $635,000 after purchasing an additional 124 shares during the last quarter. Fiduciary Alliance LLC boosted its position in shares of Corning by 0.7% during the third quarter. Fiduciary Alliance LLC now owns 18,474 shares of the electronics maker’s stock valued at $1,515,000 after buying an additional 137 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Corning by 0.5% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 30,658 shares of the electronics maker’s stock valued at $2,515,000 after buying an additional 138 shares during the last quarter. 69.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Lewis A. Steverson sold 23,142 shares of the business’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $89.05, for a total transaction of $2,060,795.10. Following the transaction, the executive vice president directly owned 17,575 shares in the company, valued at $1,565,053.75. The trade was a 56.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction, the chief financial officer directly owned 66,959 shares in the company, valued at $6,110,008.75. This represents a 23.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 156,135 shares of company stock valued at $14,088,769 over the last three months. Company insiders own 0.40% of the company’s stock.

Corning Price Performance

NYSE GLW opened at $90.06 on Thursday. Corning Incorporated has a 52-week low of $37.31 and a 52-week high of $96.64. The firm’s 50 day moving average price is $86.58 and its 200-day moving average price is $76.39. The company has a market cap of $77.22 billion, a PE ratio of 57.00, a P/E/G ratio of 1.64 and a beta of 1.13. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.56.

Corning (NYSE:GLW) last released 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. The business had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.24 billion. Corning had a net margin of 9.16% and a return on equity of 18.12%. The company’s revenue was up 20.9% compared to the same quarter last year. During the same period last year, the business earned $0.54 EPS. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. Sell-side analysts forecast that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Analyst Ratings Changes

GLW has been the topic of several recent analyst reports. Morgan Stanley increased their price target on Corning from $82.00 to $98.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 17th. Argus lifted their target price on Corning from $68.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. UBS Group restated a “buy” rating and issued a $109.00 price target (up from $100.00) on shares of Corning in a report on Friday, November 21st. Mizuho set a $97.00 price objective on shares of Corning in a report on Wednesday, October 29th. Finally, Zacks Research cut shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 21st. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $93.36.

Corning 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.