Corning Incorporated $GLW Shares Sold by Cookson Peirce & Co. Inc.

Cookson Peirce & Co. Inc. trimmed its holdings in shares of Corning Incorporated (NYSE:GLW) by 2.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 977,158 shares of the electronics maker’s stock after selling 21,093 shares during the period. Corning makes up about 2.3% of Cookson Peirce & Co. Inc.’s holdings, making the stock its 8th biggest position. Cookson Peirce & Co. Inc.’s holdings in Corning were worth $51,389,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of GLW. Davis Investment Partners LLC acquired a new stake in Corning during the 2nd quarter valued at $251,000. Central Pacific Bank Trust Division lifted its holdings in Corning by 23.6% during the second quarter. Central Pacific Bank Trust Division now owns 72,982 shares of the electronics maker’s stock worth $3,838,000 after acquiring an additional 13,920 shares in the last quarter. Strs Ohio acquired a new stake in shares of Corning in the 1st quarter valued at about $27,219,000. Acadian Asset Management LLC raised its stake in shares of Corning by 4,346.5% in the 1st quarter. Acadian Asset Management LLC now owns 153,984 shares of the electronics maker’s stock valued at $7,048,000 after purchasing an additional 150,521 shares during the period. Finally, Intech Investment Management LLC raised its stake in shares of Corning by 507.6% in the 1st quarter. Intech Investment Management LLC now owns 211,124 shares of the electronics maker’s stock valued at $9,665,000 after purchasing an additional 176,379 shares during the period. 69.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Oppenheimer reiterated an “outperform” rating and set a $72.00 price target (up previously from $55.00) on shares of Corning in a report on Wednesday, July 30th. Barclays boosted their price objective on shares of 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 shares of Corning from $74.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, October 3rd. Wolfe Research began coverage on Corning in a report on Tuesday, July 8th. They issued an “outperform” rating for the company. Finally, Wall Street Zen downgraded Corning from a “strong-buy” rating to a “hold” rating in a report on Saturday, September 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Corning has a consensus rating of “Moderate Buy” and an average price target of $73.00.

Corning Stock Up 1.1%

GLW opened at $86.18 on Wednesday. Corning Incorporated has a one year low of $37.31 and a one year high of $87.78. The company has a fifty day moving average price of $76.15 and a 200-day moving average price of $59.25. The firm has a market capitalization of $73.82 billion, a P/E ratio of 91.68, a price-to-earnings-growth ratio of 1.90 and a beta of 1.14. 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 (NYSE:GLW) last announced its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. The company had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.84 billion. Corning had a net margin of 5.77% and a return on equity of 17.27%. During the same period in the previous year, the business earned $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Equities research analysts expect that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 14th will be issued a dividend of $0.28 per share. The ex-dividend date is Friday, November 14th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.3%. Corning’s dividend payout ratio is presently 119.15%.

Insider Transactions at Corning

In related news, CEO Wendell P. Weeks sold 82,103 shares of the company’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $65.19, for a total value of $5,352,294.57. Following the completion of the transaction, the chief executive officer owned 809,295 shares of the company’s stock, valued at approximately $52,757,941.05. This represents a 9.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Avery H. Nelson III sold 36,240 shares of Corning stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $62.26, for a total transaction of $2,256,302.40. Following the sale, the chief operating officer owned 64,838 shares in the company, valued at approximately $4,036,813.88. The trade was a 35.85% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 181,671 shares of company stock worth $11,816,899. Company insiders own 0.32% of the company’s stock.

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.