Frank Rimerman Advisors LLC Lowers Holdings in Corning Incorporated $GLW

Frank Rimerman Advisors LLC lowered its holdings in shares of Corning Incorporated (NYSE:GLW) by 10.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 12,389 shares of the electronics maker’s stock after selling 1,378 shares during the period. Frank Rimerman Advisors LLC’s holdings in Corning were worth $652,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in GLW. Amundi raised its position in shares of Corning by 64.3% during the first quarter. Amundi now owns 6,408,605 shares of the electronics maker’s stock valued at $271,237,000 after buying an additional 2,507,797 shares during the last quarter. Nuveen LLC purchased a new position in Corning during the first quarter valued at $104,789,000. Kingstone Capital Partners Texas LLC bought a new stake in Corning in the 2nd quarter valued at $92,560,000. Robeco Institutional Asset Management B.V. lifted its stake in Corning by 185.7% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,801,411 shares of the electronics maker’s stock worth $94,736,000 after purchasing an additional 1,170,992 shares in the last quarter. Finally, Deutsche Bank AG lifted its stake in Corning by 37.1% in the 1st quarter. Deutsche Bank AG now owns 3,835,799 shares of the electronics maker’s stock worth $175,603,000 after purchasing an additional 1,037,875 shares in the last quarter. 69.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GLW has been the subject of a number of research analyst reports. Morgan Stanley set a $82.00 price objective on Corning 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 company a “buy” rating in a research note on Wednesday, October 29th. Barclays lifted their price objective on Corning from $65.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 29th. Argus upped 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. Finally, Mizuho set a $97.00 target price on Corning in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $90.82.

Corning Trading Up 2.0%

Shares of NYSE GLW opened at $81.74 on Thursday. The stock has a market capitalization of $70.08 billion, a P/E ratio of 51.73, a PEG 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. The business’s 50 day moving average is $83.83 and its two-hundred day moving average is $65.79. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.56 and a quick ratio of 0.93.

Corning (NYSE:GLW) last released its earnings results on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.01. The firm had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.24 billion. Corning had a return on equity of 18.12% and a net margin of 9.16%.The company’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 EPS. 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 EPS for the current year.

Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 14th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.4%. Corning’s payout ratio is currently 70.89%.

Insider Activity at Corning

In other news, insider Eric S. Musser sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $90.17, for a total transaction of $9,017,000.00. Following the transaction, the insider owned 44,926 shares of the company’s stock, valued at approximately $4,050,977.42. This represents a 69.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Stefan Becker sold 12,100 shares of the stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $91.28, for a total value of $1,104,488.00. Following the completion of the sale, the senior vice president owned 5,049 shares in the company, valued at approximately $460,872.72. The trade was a 70.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 173,856 shares of company stock worth $15,456,476 in the last three months. 0.32% of the stock is owned by insiders.

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.