201,199 Corning Incorporated $GLW Shares Sold by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. lowered its stake in Corning Incorporated (NYSE:GLW) by 46.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 235,419 shares of the electronics maker’s stock after selling 201,199 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Corning were worth $37,781,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. State Street Corp lifted its position in Corning by 13.4% during the 2nd quarter. State Street Corp now owns 41,108,384 shares of the electronics maker’s stock worth $10,500,315,000 after acquiring an additional 4,845,027 shares in the last quarter. Bank of America Corp DE boosted its holdings in Corning by 29.2% in the 2nd quarter. Bank of America Corp DE now owns 18,730,616 shares of the electronics maker’s stock worth $4,784,361,000 after acquiring an additional 4,231,507 shares during the period. Wellington Management Group LLP boosted its holdings in Corning by 50.9% in the 2nd quarter. Wellington Management Group LLP now owns 13,174,194 shares of the electronics maker’s stock worth $3,365,084,000 after acquiring an additional 4,446,514 shares during the period. Bank of New York Mellon Corp acquired a new stake in Corning in the second quarter valued at approximately $1,510,911,000. Finally, Legal & General Group Plc acquired a new stake in Corning in the second quarter valued at approximately $1,212,283,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Trading Down 4.7%

NYSE:GLW opened at $131.93 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. Corning Incorporated has a one year low of $77.39 and a one year high of $271.78. The business’s 50-day simple moving average is $154.18 and its 200 day simple moving average is $168.66. The stock has a market cap of $113.64 billion, a price-to-earnings ratio of 60.24, a price-to-earnings-growth ratio of 1.68 and a beta of 1.13.

Corning (NYSE:GLW) last issued its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. Corning had a return on equity of 20.09% and a net margin of 11.20%. The firm had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. During the same quarter in the prior year, the business posted $0.60 earnings per share. Corning’s revenue for the quarter was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, sell-side analysts predict that Corning Incorporated will post 3.28 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Friday, November 13th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, November 13th. Corning’s dividend payout ratio is presently 51.14%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Oppenheimer dropped their price objective on shares of Corning from $230.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 29th. Weiss Ratings downgraded shares of Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. The Goldman Sachs Group reaffirmed an “outperform” rating on shares of Corning in a report on Tuesday, September 15th. UBS Group raised their price target on shares of Corning from $196.00 to $201.00 and gave the company a “buy” rating in a report on Monday, October 5th. Finally, Barclays dropped their price target on shares of Corning from $180.00 to $129.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 29th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Corning has a consensus rating of “Moderate Buy” and an average price target of $177.56.

Insider Activity

In other news, EVP Lewis Steverson sold 13,100 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $151.29, for a total transaction of $1,981,899.00. Following the completion of the transaction, the executive vice president directly owned 15,052 shares in the company, valued at approximately $2,277,217.08. This represents a 46.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by insiders.

Corning Profile

Corning Incorporated (NYSE: GLW) is a technology company that develops and manufactures specialty glass, ceramics and optical-fiber products. Its materials and engineering expertise support communications networks, consumer electronics, automotive systems, life sciences and other industrial applications.

The company’s products include optical fiber, cable and connectivity solutions used in telecommunications infrastructure; glass substrates for televisions, computer monitors and other displays; durable cover glass for mobile devices; emissions-control components for vehicles; laboratory glassware and consumables; and specialized glass and ceramic materials for scientific, industrial and semiconductor applications.

Founded in 1851 and headquartered in Corning, New York, the company serves customers through operations and facilities across North America, Europe, Asia and other international markets.