Pacer Advisors Inc. Decreases Position in Corning Incorporated $GLW

Pacer Advisors Inc. lessened its stake in Corning Incorporated (NYSE:GLW) by 17.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 62,459 shares of the electronics maker’s stock after selling 13,214 shares during the quarter. Pacer Advisors Inc.’s holdings in Corning were worth $5,124,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Corning by 1.6% in the second quarter. Vanguard Group Inc. now owns 97,952,109 shares of the electronics maker’s stock valued at $5,151,301,000 after buying an additional 1,582,895 shares during the period. State Street Corp raised its stake in Corning by 1.4% in the 2nd quarter. State Street Corp now owns 36,568,973 shares of the electronics maker’s stock valued at $1,923,162,000 after acquiring an additional 509,013 shares during the period. Geode Capital Management LLC raised its stake in Corning by 0.6% in the 2nd quarter. Geode Capital Management LLC now owns 19,443,525 shares of the electronics maker’s stock valued at $1,018,629,000 after acquiring an additional 112,739 shares during the period. Ameriprise Financial Inc. lifted its holdings in Corning by 8.1% during the second quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock valued at $724,432,000 after purchasing an additional 1,036,988 shares during the last quarter. Finally, Norges Bank bought a new position in Corning during the second quarter worth about $534,936,000. 69.80% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on GLW. Argus boosted their price target on shares of Corning from $68.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Wall Street Zen downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Saturday, September 13th. Citigroup boosted their target price on shares of Corning from $93.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 21st. Finally, Morgan Stanley raised their price target on Corning from $82.00 to $98.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.09.

Insider Activity at Corning

In related news, SVP Stefan Becker sold 12,100 shares of the stock in a transaction 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Edward A. Schlesinger sold 20,893 shares of the firm’s stock in a transaction dated 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 156,135 shares of company stock worth $14,088,769 over the last quarter. 0.32% of the stock is currently owned by corporate insiders.

Corning Stock Down 0.7%

GLW opened at $88.94 on Tuesday. The company has a fifty day moving average price of $86.38 and a 200-day moving average price of $73.42. The firm has a market capitalization of $76.26 billion, a P/E ratio of 56.29, a price-to-earnings-growth ratio of 1.96 and a beta of 1.11. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.56 and a quick ratio of 1.00. Corning Incorporated has a one year low of $37.31 and a one year high of $96.64.

Corning (NYSE:GLW) last issued its quarterly earnings data 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 return on equity of 18.12% and a net margin of 9.16%.The company had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter last year, the business posted $0.54 earnings per share. The firm’s 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. Equities research analysts expect that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 14th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Friday, November 14th. Corning’s payout ratio is currently 70.89%.

Corning Profile

Corning Incorporated is a global manufacturer specializing in specialty glass, ceramics and related materials and technologies. Headquartered in Corning, New York, the company supplies engineered materials and components used across multiple industries, including consumer electronics, telecommunications, automotive emissions control, pharmaceutical and life sciences, and industrial and scientific applications. Corning emphasizes materials science and precision manufacturing to develop durable, high-performance glass and ceramic products.

Key product lines include specialty display glass used by television and mobile-device manufacturers, cover glass marketed under well-known trade names for smartphones and tablets, and optical fiber and cable and related hardware for telecommunications networks.