FUKOKU MUTUAL LIFE INSURANCE Co Sells 1,538 Shares of Corning Incorporated $GLW

FUKOKU MUTUAL LIFE INSURANCE Co lowered its position in Corning Incorporated (NYSE:GLW) by 12.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,928 shares of the electronics maker’s stock after selling 1,538 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Corning were worth $575,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in GLW. REAP Financial Group LLC grew its stake in Corning by 191.5% in 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 during the period. Investment Management Corp VA ADV lifted 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 valued at $34,000 after buying an additional 463 shares during the period. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in shares of Corning by 90.1% during the 1st 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 in the last quarter. Banque Transatlantique SA purchased a new stake in shares of Corning in the 1st quarter worth about $34,000. Finally, Resources Management Corp CT ADV grew its position 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 worth $34,000 after buying an additional 300 shares during the period. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Corning Stock Up 2.0%

Shares of Corning stock opened at $81.74 on Thursday. The company has a 50-day simple moving average of $83.83 and a two-hundred day simple moving average of $65.79. Corning Incorporated has a 52-week low of $37.31 and a 52-week high of $92.57. 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 stock has a market capitalization of $70.08 billion, a PE ratio of 51.73, a price-to-earnings-growth ratio of 1.99 and a beta of 1.15.

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, beating the consensus estimate 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 $4.10 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter last year, the firm earned $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. On average, analysts anticipate that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 14th will be issued a $0.28 dividend. 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 dividend payout ratio (DPR) is presently 70.89%.

Insider Transactions at Corning

In related news, SVP Jaymin Amin sold 17,721 shares of Corning stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $77.18, for a total value of $1,367,706.78. Following the completion of the sale, the senior vice president directly owned 88,722 shares in the company, valued at approximately $6,847,563.96. This trade represents a 16.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric S. Musser sold 100,000 shares of the company’s stock in a transaction dated Wednesday, October 29th. The shares were 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 in the company, valued at $4,050,977.42. This represents a 69.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 173,856 shares of company stock valued at $15,456,476. Insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on GLW shares. Morgan Stanley set a $82.00 price target on shares of Corning in a research report on Wednesday, October 29th. Barclays raised their target price on shares of Corning from $65.00 to $83.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 29th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Corning in a report on Thursday, November 13th. Oppenheimer set a $100.00 price target on Corning and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Finally, Argus raised their price objective on Corning from $68.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.