Corning Incorporated $GLW Shares Sold by Versor Investments LP

Versor Investments LP lowered its holdings in shares of Corning Incorporated (NYSE:GLW) by 32.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,643 shares of the electronics maker’s stock after selling 8,643 shares during the quarter. Versor Investments LP’s holdings in Corning were worth $928,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. REAP Financial Group LLC boosted its position in Corning by 191.5% during the second quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock worth $27,000 after purchasing an additional 339 shares in the last quarter. Investment Management Corp VA ADV boosted its position in 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 in the last quarter. Annis Gardner Whiting Capital Advisors LLC boosted 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 worth $34,000 after purchasing an additional 353 shares in the last quarter. Resources Management Corp CT ADV boosted its position in Corning by 66.7% during the first quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 300 shares in the last quarter. Finally, Gen Wealth Partners Inc boosted its position in Corning by 151.7% during the first quarter. Gen Wealth Partners Inc now owns 755 shares of the electronics maker’s stock worth $35,000 after purchasing an additional 455 shares in the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Corning Stock Performance

NYSE GLW opened at $89.07 on Monday. Corning Incorporated has a 1-year low of $37.31 and a 1-year high of $92.57. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.56 and a quick ratio of 0.93. The company has a market cap of $76.30 billion, a PE ratio of 56.37, a price-to-earnings-growth ratio of 1.99 and a beta of 1.14. The stock’s 50 day simple moving average is $79.77 and its 200-day simple moving average is $62.13.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, October 28th. The electronics maker reported $0.67 EPS for the quarter, beating the consensus estimate of $0.66 by $0.01. Corning had a return on equity of 18.12% and a net margin of 9.16%.The firm had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter last year, the firm earned $0.54 earnings per share. The business’s revenue for the quarter was up 20.9% on a year-over-year basis. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. As a group, equities research analysts anticipate that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 14th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, November 14th. Corning’s dividend payout ratio (DPR) is currently 70.89%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Susquehanna increased their price target on Corning from $75.00 to $100.00 and gave the stock a “positive” rating in a research report on Wednesday, October 29th. UBS Group increased their price target on Corning from $91.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday. Morgan Stanley set a $82.00 price target on Corning in a research report on Wednesday. Weiss Ratings restated a “hold (c+)” rating on shares of Corning in a research report on Wednesday, October 8th. Finally, Mizuho set a $97.00 target price on Corning in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $90.82.

Insider Buying and Selling

In related news, CEO Wendell P. Weeks sold 82,103 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $65.19, for a total value of $5,352,294.57. Following the completion of the sale, the chief executive officer owned 809,295 shares of the company’s stock, valued at approximately $52,757,941.05. This trade represents a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eric S. Musser sold 100,000 shares of the stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $90.17, for a total value of $9,017,000.00. Following the completion of the sale, the insider directly owned 44,926 shares of the company’s stock, valued at approximately $4,050,977.42. This represents a 69.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 211,924 shares of company stock worth $16,841,489 in the last three months. Company insiders own 0.40% 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.