Moors & Cabot Inc. Sells 7,399 Shares of Corning Incorporated $GLW

Moors & Cabot Inc. lowered its stake in shares of Corning Incorporated (NYSE:GLW) by 13.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,957 shares of the electronics maker’s stock after selling 7,399 shares during the period. Moors & Cabot Inc.’s holdings in Corning were worth $4,016,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. CVA Family Office LLC grew its stake in shares of Corning by 10.3% during the 3rd quarter. CVA Family Office LLC now owns 1,190 shares of the electronics maker’s stock worth $98,000 after acquiring an additional 111 shares during the period. Angeles Wealth Management LLC lifted its holdings in Corning by 2.8% during the third quarter. Angeles Wealth Management LLC now owns 4,242 shares of the electronics maker’s stock valued at $348,000 after purchasing an additional 116 shares during the last quarter. Vista Investment Partners LLC boosted its position in Corning by 1.3% during the third quarter. Vista Investment Partners LLC now owns 9,496 shares of the electronics maker’s stock worth $779,000 after purchasing an additional 119 shares during the period. Sapient Capital LLC increased its stake in shares of Corning by 2.2% in the third quarter. Sapient Capital LLC now owns 5,626 shares of the electronics maker’s stock worth $452,000 after purchasing an additional 120 shares in the last quarter. Finally, Sivia Capital Partners LLC raised its position in shares of Corning by 1.6% in the third quarter. Sivia Capital Partners LLC now owns 7,740 shares of the electronics maker’s stock valued at $635,000 after purchasing an additional 124 shares during the period. Institutional investors own 69.80% of the company’s stock.

Analyst Ratings Changes

GLW has been the subject of several analyst reports. Morgan Stanley raised their price objective on shares of Corning from $103.00 to $127.00 and gave the stock an “equal weight” rating in a report on Monday, February 23rd. Weiss Ratings raised shares of Corning from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 17th. Mizuho set a $145.00 target price on Corning in a research report on Monday, February 23rd. Zacks Research lowered Corning from a “strong-buy” rating to a “hold” rating in a report on Friday, November 21st. Finally, Barclays set a $100.00 price target on Corning in a research report on Thursday, January 29th. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $131.75.

Insider Activity

In other Corning news, insider Eric S. Musser sold 15,000 shares of Corning stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $130.25, for a total transaction of $1,953,750.00. Following the completion of the sale, the insider owned 4,926 shares of the company’s stock, valued at $641,611.50. The trade was a 75.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Avery H. Nelson III sold 1,583 shares of the company’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $128.74, for a total value of $203,795.42. Following the completion of the transaction, the chief operating officer owned 59,788 shares of the company’s stock, valued at $7,697,107.12. The trade was a 2.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 233,201 shares of company stock worth $32,614,558. Corporate insiders own 0.32% of the company’s stock.

Corning Price Performance

Corning stock opened at $132.14 on Tuesday. The stock has a market cap of $113.37 billion, a price-to-earnings ratio of 71.81, a PEG ratio of 2.04 and a beta of 1.04. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. The business has a 50-day simple moving average of $118.61 and a 200 day simple moving average of $95.93. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $162.10.

Corning (NYSE:GLW) last issued its quarterly earnings results on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. Corning had a return on equity of 18.72% and a net margin of 10.21%.The firm had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.35 billion. During the same quarter last year, the company posted $0.57 EPS. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. On average, research analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, February 27th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. Corning’s dividend payout ratio is presently 60.87%.

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.