Corning Incorporated $GLW Stock Position Lowered by Neville Rodie & Shaw Inc.

Neville Rodie & Shaw Inc. cut its stake in shares of Corning Incorporated (NYSE:GLW) by 0.3% during the second quarter, Holdings Channel reports. The firm owned 68,769 shares of the electronics maker’s stock after selling 200 shares during the quarter. Neville Rodie & Shaw Inc.’s holdings in Corning were worth $3,617,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GLW. Vermillion Wealth Management Inc. acquired a new stake in shares of Corning during the fourth quarter worth $29,000. Putney Financial Group LLC acquired a new stake in shares of Corning during the fourth quarter worth $30,000. Investment Management Corp VA ADV raised its position in shares of Corning by 165.9% during the first quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 463 shares during the period. Annis Gardner Whiting Capital Advisors LLC raised its position in Corning by 90.1% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker’s stock valued at $34,000 after buying an additional 353 shares during the period. Finally, Banque Transatlantique SA acquired a new position in Corning during the first quarter valued at $34,000. 69.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on GLW shares. Wolfe Research started coverage on Corning in a research report on Tuesday, July 8th. They set an “outperform” rating on the stock. Oppenheimer reissued an “outperform” rating and set a $72.00 price target (up from $55.00) on shares of Corning in a research report on Wednesday, July 30th. Barclays upped their price target on Corning from $52.00 to $65.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 30th. Mizuho upped their price target on Corning from $63.00 to $74.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Finally, Morgan Stanley set a $56.00 price target on Corning and gave the company an “equal weight” rating in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Corning presently has an average rating of “Moderate Buy” and an average target price of $66.75.

Insider Activity at Corning

In other news, SVP Michael Paul O’day sold 14,879 shares of the company’s stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $62.36, for a total transaction of $927,854.44. Following the completion of the sale, the senior vice president owned 35,743 shares in the company, valued at approximately $2,228,933.48. This represents a 29.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Lewis A. Steverson sold 16,646 shares of the company’s stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $62.22, for a total value of $1,035,714.12. Following the sale, the executive vice president owned 39,759 shares of the company’s stock, valued at approximately $2,473,804.98. This trade represents a 29.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 163,950 shares of company stock worth $10,449,192 in the last 90 days. Insiders own 0.40% of the company’s stock.

Corning Stock Performance

Shares of NYSE GLW opened at $77.03 on Friday. The business’s 50-day moving average price is $62.75 and its two-hundred day moving average price is $52.48. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.50 and a quick ratio of 0.93. Corning Incorporated has a one year low of $37.31 and a one year high of $77.87. The company has a market capitalization of $65.99 billion, a P/E ratio of 81.95, a price-to-earnings-growth ratio of 1.69 and a beta of 1.09.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. Corning had a return on equity of 17.27% and a net margin of 5.77%.The firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same quarter in the previous year, the company posted $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, August 29th. Corning’s dividend payout ratio is 119.15%.

About Corning

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.