Los Angeles Capital Management LLC Lowers Position in Corning Incorporated $GLW

Los Angeles Capital Management LLC reduced its stake in Corning Incorporated (NYSE:GLW) by 3.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,064,235 shares of the electronics maker’s stock after selling 82,797 shares during the period. Los Angeles Capital Management LLC owned approximately 0.24% of Corning worth $108,558,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. REAP Financial Group LLC lifted its position in shares of 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 increased its position in shares of Corning by 165.9% in the 1st quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 463 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its holdings in Corning by 90.1% in 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 last quarter. Resources Management Corp CT ADV increased its holdings in shares of Corning by 66.7% in the 1st quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker’s stock valued at $34,000 after acquiring an additional 300 shares during the last quarter. Finally, Gen Wealth Partners Inc raised its holdings 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. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Stock Performance

GLW opened at $85.40 on Friday. The stock’s 50 day simple moving average is $81.68 and its 200 day simple moving average is $63.42. 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 stock has a market cap of $73.22 billion, a P/E ratio of 54.05, a P/E/G ratio of 1.99 and a beta of 1.15. Corning Incorporated has a 1-year low of $37.31 and a 1-year high of $92.57.

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

Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 14th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, November 14th. Corning’s payout ratio is presently 70.89%.

Insider Buying and Selling at Corning

In related news, SVP Stefan Becker sold 12,100 shares of the company’s stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $91.28, for a total transaction of $1,104,488.00. Following the completion of the transaction, the senior vice president owned 5,049 shares of the company’s stock, valued at approximately $460,872.72. This represents a 70.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Edward A. Schlesinger sold 20,893 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $91.25, for a total value of $1,906,486.25. Following the completion of the transaction, the chief financial officer owned 66,959 shares in the company, valued at approximately $6,110,008.75. This trade represents a 23.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 173,856 shares of company stock valued at $15,456,476. 0.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on GLW shares. Susquehanna upped their target price on Corning from $75.00 to $100.00 and gave the company a “positive” rating in a research report on Wednesday, October 29th. Mizuho set a $97.00 target price on shares of Corning in a research note on Wednesday, October 29th. Morgan Stanley set a $82.00 price target on Corning in a research report on Wednesday, October 29th. Argus increased their price objective on Corning from $68.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, Citigroup boosted their target price on Corning from $93.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $90.82.

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.