Lincluden Management Ltd. Has $3.39 Million Stake in Corning Incorporated $GLW

Lincluden Management Ltd. trimmed its position in Corning Incorporated (NYSE:GLW) by 1.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,379 shares of the electronics maker’s stock after selling 756 shares during the quarter. Lincluden Management Ltd.’s holdings in Corning were worth $3,386,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of GLW. Amundi raised its stake in shares of Corning by 64.3% in the first quarter. Amundi now owns 6,408,605 shares of the electronics maker’s stock valued at $271,237,000 after purchasing an additional 2,507,797 shares in the last quarter. Nuveen LLC acquired a new position in shares of Corning in the first quarter valued at $104,789,000. Kingstone Capital Partners Texas LLC acquired a new position in shares of Corning in the second quarter valued at $92,560,000. Robeco Institutional Asset Management B.V. raised its stake in shares of Corning by 185.7% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,801,411 shares of the electronics maker’s stock valued at $94,736,000 after purchasing an additional 1,170,992 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in shares of Corning by 37.1% in the first quarter. Deutsche Bank AG now owns 3,835,799 shares of the electronics maker’s stock valued at $175,603,000 after purchasing an additional 1,037,875 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Michael Paul O’day sold 14,879 shares of the firm’s stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $62.36, for a total value of $927,854.44. Following the transaction, the senior vice president owned 35,743 shares of the company’s stock, valued at approximately $2,228,933.48. This trade represents a 29.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jaymin Amin sold 17,721 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $77.18, for a total value of $1,367,706.78. Following the transaction, the senior vice president owned 88,722 shares in the company, valued at approximately $6,847,563.96. This trade represents a 16.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 181,671 shares of company stock valued at $11,816,899 over the last 90 days. Corporate insiders own 0.40% of the company’s stock.

Corning Price Performance

Shares of GLW stock opened at $83.00 on Friday. The stock’s fifty day moving average is $73.19 and its 200-day moving average is $57.25. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.50. The stock has a market capitalization of $71.10 billion, a PE ratio of 88.30, a PEG ratio of 1.85 and a beta of 1.14. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $87.78.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. The company had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.84 billion. Corning had a return on equity of 17.27% and a net margin of 5.77%.During the same quarter in the prior year, the business earned $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Equities research analysts expect that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 14th will be issued a $0.28 dividend. The ex-dividend date is Friday, November 14th. This represents a $1.12 annualized dividend and a yield of 1.3%. Corning’s dividend payout ratio (DPR) is currently 119.15%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GLW. Wolfe Research began coverage on Corning in a research report on Tuesday, July 8th. They issued an “outperform” rating on the stock. Mizuho upped their price target on Corning from $74.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, October 3rd. Argus reiterated a “buy” rating and issued a $68.00 price target on shares of Corning in a research report on Wednesday, July 30th. JPMorgan Chase & Co. upped their price target on Corning from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, July 25th. Finally, UBS Group upped their price target on Corning from $84.00 to $91.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $73.00.

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.