Korea Investment CORP Reduces Position in Corning Incorporated $GLW

Korea Investment CORP trimmed its position in Corning Incorporated (NYSE:GLW) by 17.1% during the 2nd quarter, Holdings Channel.com reports. The fund owned 492,149 shares of the electronics maker’s stock after selling 101,254 shares during the period. Korea Investment CORP’s holdings in Corning were worth $25,882,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GLW. REAP Financial Group LLC increased its holdings in shares of Corning by 191.5% in the second quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock valued at $27,000 after purchasing an additional 339 shares during the period. Elevation Point Wealth Partners LLC purchased a new stake in Corning in the second quarter valued at approximately $38,000. Annis Gardner Whiting Capital Advisors LLC increased its holdings in Corning by 90.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker’s stock worth $34,000 after buying an additional 353 shares during the period. Resources Management Corp CT ADV raised its position in Corning by 66.7% during 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 last quarter. Finally, Gen Wealth Partners Inc raised its position in Corning by 151.7% during the 1st quarter. Gen Wealth Partners Inc now owns 755 shares of the electronics maker’s stock worth $35,000 after buying an additional 455 shares during the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Trading Up 0.7%

GLW stock opened at $84.16 on Friday. Corning Incorporated has a 52-week low of $37.31 and a 52-week high of $92.57. The company has a quick ratio of 0.93, a current ratio of 1.56 and a debt-to-equity ratio of 0.62. The firm has a market cap of $72.15 billion, a P/E ratio of 53.26, a PEG ratio of 1.99 and a beta of 1.15. The company’s 50-day simple moving average is $84.41 and its 200-day simple moving average is $67.43.

Corning (NYSE:GLW) last released 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. The company had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Corning had a return on equity of 18.12% and a net margin of 9.16%.Corning’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.54 EPS. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. As a group, equities analysts forecast 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. Stockholders of record on Friday, November 14th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, November 14th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.3%. Corning’s dividend payout ratio (DPR) is 70.89%.

Insider Transactions at Corning

In related news, insider Eric S. Musser sold 100,000 shares of the business’s stock in a transaction 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 owned 44,926 shares of the company’s stock, valued at approximately $4,050,977.42. The trade was a 69.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Stefan Becker sold 12,100 shares of the company’s stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $91.28, for a total transaction of $1,104,488.00. Following the transaction, the senior vice president owned 5,049 shares of the company’s stock, valued at $460,872.72. This represents a 70.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 173,856 shares of company stock worth $15,456,476 in the last ninety days. Company insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

GLW has been the topic of a number of research reports. Zacks Research lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 21st. Barclays increased their price target on Corning from $65.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 29th. Susquehanna boosted their price objective on Corning from $75.00 to $100.00 and gave the company a “positive” rating in a report on Wednesday, October 29th. Wall Street Zen downgraded Corning from a “strong-buy” rating to a “hold” rating in a research note on Saturday, September 13th. Finally, Argus raised their target price on Corning from $68.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Corning currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.64.

Corning 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.