Corning (NYSE:GLW) CFO Sells $1,906,486.25 in Stock

Corning Incorporated (NYSE:GLW) CFO Edward Schlesinger sold 20,893 shares of the company’s stock in a transaction that occurred on 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 sale, the chief financial officer owned 66,959 shares in the company, valued at $6,110,008.75. The trade was a 23.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Corning Stock Performance

Shares of Corning stock traded down $1.65 on Monday, reaching $87.43. 4,934,797 shares of the company were exchanged, compared to its average volume of 6,266,335. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.93 and a current ratio of 1.56. The company’s 50-day moving average is $80.18 and its two-hundred day moving average is $62.46. The firm has a market cap of $74.89 billion, a price-to-earnings ratio of 55.34, a P/E/G ratio of 1.99 and a beta of 1.14. Corning Incorporated has a 1-year low of $37.31 and a 1-year high of $92.57.

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, topping analysts’ consensus estimates of $0.66 by $0.01. Corning had a return on equity of 18.12% and a net margin of 9.16%.The business had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same period in the prior year, the firm earned $0.54 EPS. The business’s quarterly revenue 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, research analysts expect that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 14th will be given 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 70.89%.

Wall Street Analysts Forecast Growth

GLW has been the subject of several recent research reports. Argus increased their price objective on Corning from $68.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Morgan Stanley set a $82.00 price objective on Corning in a research note on Wednesday, October 29th. Citigroup lifted their target price on Corning from $93.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Mizuho set a $97.00 price objective on Corning in a report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Corning from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $90.82.

Institutional Investors Weigh In On Corning

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC raised its holdings in shares of Corning by 46.0% in the 4th quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock valued at $319,000 after purchasing an additional 2,114 shares during the period. DAVENPORT & Co LLC raised its holdings in shares of Corning by 30.6% in the 1st quarter. DAVENPORT & Co LLC now owns 20,139 shares of the electronics maker’s stock valued at $922,000 after purchasing an additional 4,723 shares during the period. Private Trust Co. NA raised its holdings in shares of Corning by 3.3% in the 1st quarter. Private Trust Co. NA now owns 10,562 shares of the electronics maker’s stock valued at $484,000 after purchasing an additional 335 shares during the period. Teacher Retirement System of Texas raised its holdings in shares of Corning by 354.9% in the 1st quarter. Teacher Retirement System of Texas now owns 218,117 shares of the electronics maker’s stock valued at $9,985,000 after purchasing an additional 170,168 shares during the period. Finally, Mutual Advisors LLC bought a new stake in shares of Corning in the 1st quarter valued at about $227,000. 69.80% of the stock is owned by institutional investors.

Corning Company Profile

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.