Chilton Capital Management LLC Lowers Stock Holdings in Corning Incorporated $GLW

Chilton Capital Management LLC reduced its stake in Corning Incorporated (NYSE:GLW) by 16.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,000 shares of the electronics maker’s stock after selling 1,000 shares during the quarter. Chilton Capital Management LLC’s holdings in Corning were worth $263,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Amundi grew its stake in shares of Corning by 64.3% in the 1st 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 during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Corning by 1.3% in the 1st quarter. Bank of New York Mellon Corp now owns 6,347,977 shares of the electronics maker’s stock valued at $290,610,000 after purchasing an additional 80,872 shares during the last quarter. Invesco Ltd. increased its position in Corning by 4.8% during the 1st quarter. Invesco Ltd. now owns 6,337,063 shares of the electronics maker’s stock worth $290,111,000 after purchasing an additional 288,328 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Corning by 10.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,844,174 shares of the electronics maker’s stock worth $267,546,000 after purchasing an additional 558,184 shares during the period. Finally, Deutsche Bank AG increased its position in Corning by 37.1% during the 1st quarter. Deutsche Bank AG now owns 3,835,799 shares of the electronics maker’s stock worth $175,603,000 after purchasing an additional 1,037,875 shares during the period. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Corning

In related news, CEO Wendell P. Weeks sold 82,103 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $65.19, for a total value of $5,352,294.57. Following the sale, the chief executive officer owned 809,295 shares of the company’s stock, valued at approximately $52,757,941.05. This represents a 9.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jaymin Amin sold 17,721 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $77.18, for a total value of $1,367,706.78. Following the completion of the sale, the senior vice president directly owned 88,722 shares in the company, valued at approximately $6,847,563.96. The trade was 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 worth $11,816,899 in the last quarter. Insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GLW. Citigroup boosted their target price on Corning from $72.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Wolfe Research began coverage on Corning in a research report on Tuesday, July 8th. They set an “outperform” rating on the stock. Morgan Stanley boosted their target price on Corning from $56.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, October 10th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Corning in a research report on Friday. Finally, Oppenheimer reiterated an “outperform” rating and set a $72.00 target price (up previously from $55.00) on shares of Corning in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $73.00.

Corning Price Performance

Shares of NYSE:GLW opened at $87.46 on Monday. The business’s 50 day simple moving average is $77.36 and its 200-day simple moving average is $60.33. The firm has a market capitalization of $74.92 billion, a price-to-earnings ratio of 93.04, a price-to-earnings-growth ratio of 1.95 and a beta of 1.14. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.50 and a quick ratio of 0.93. Corning Incorporated has a 12 month low of $37.31 and a 12 month high of $87.78.

Corning (NYSE:GLW) last announced its quarterly 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 business had revenue of $3.86 billion for the quarter, compared to analyst estimates 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 previous year, the company earned $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. As a group, equities analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 14th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.12 dividend on an annualized basis and a yield of 1.3%. Corning’s dividend payout ratio is presently 119.15%.

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.