Parthenon LLC Sells 10,932 Shares of Corning Incorporated $GLW

Parthenon LLC trimmed its stake in Corning Incorporated (NYSE:GLW) by 4.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 232,643 shares of the electronics maker’s stock after selling 10,932 shares during the period. Corning makes up 2.1% of Parthenon LLC’s portfolio, making the stock its 14th largest holding. Parthenon LLC’s holdings in Corning were worth $19,084,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently 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 worth $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% during the 2nd quarter. State Street Corp now owns 36,568,973 shares of the electronics maker’s stock worth $1,923,162,000 after acquiring an additional 509,013 shares during the period. Geode Capital Management LLC lifted its holdings in Corning by 0.6% during the second quarter. Geode Capital Management LLC now owns 19,443,525 shares of the electronics maker’s stock valued at $1,018,629,000 after purchasing an additional 112,739 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Corning by 8.1% in the second quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock worth $724,432,000 after purchasing an additional 1,036,988 shares during the period. Finally, Norges Bank purchased a new stake in shares of Corning in the second quarter worth $534,936,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Corning news, SVP Stefan Becker sold 12,100 shares of the business’s stock in a transaction 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 transaction, the senior vice president owned 5,049 shares in the company, valued at $460,872.72. The trade was a 70.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Lewis A. Steverson sold 23,142 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $89.05, for a total transaction of $2,060,795.10. Following the completion of the sale, the executive vice president owned 17,575 shares of the company’s stock, valued at $1,565,053.75. This trade represents a 56.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 156,135 shares of company stock valued at $14,088,769 over the last ninety days. 0.32% of the stock is owned by corporate insiders.

Corning Stock Down 1.0%

Shares of NYSE GLW opened at $93.37 on Monday. The company has a current ratio of 1.56, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62. Corning Incorporated has a 12-month low of $37.31 and a 12-month high of $96.64. The firm’s 50-day moving average price is $87.63 and its 200-day moving average price is $78.58. The stock has a market capitalization of $80.05 billion, a price-to-earnings ratio of 59.09, a P/E/G ratio of 1.64 and a beta of 1.13.

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, beating analysts’ consensus estimates of $0.66 by $0.01. The business 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 quarterly revenue was up 20.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.54 earnings per share. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. On average, equities research analysts anticipate that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on GLW shares. Zacks Research downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Friday, November 21st. JPMorgan Chase & Co. lifted their target price on Corning from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Argus boosted their price target on Corning from $68.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Barclays increased their price objective on shares of Corning from $65.00 to $83.00 and gave the company an “equal weight” rating in a report on Wednesday, October 29th. Finally, Morgan Stanley boosted their target price on shares of Corning from $82.00 to $98.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $93.36.

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.