Stefan Becker Sells 12,100 Shares of Corning (NYSE:GLW) Stock

Corning Incorporated (NYSE:GLW) SVP Stefan Becker sold 12,100 shares of the firm’s stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $91.28, for a total value of $1,104,488.00. Following the completion of the sale, the senior vice president directly owned 5,049 shares of the company’s stock, valued at $460,872.72. This trade represents a 70.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Corning Stock Down 1.3%

Shares of GLW opened at $89.07 on Friday. Corning Incorporated has a 52-week low of $37.31 and a 52-week high of $92.57. The company has a market capitalization of $76.30 billion, a PE ratio of 56.37, a price-to-earnings-growth ratio of 1.99 and a beta of 1.14. The stock has a fifty day simple moving average of $79.77 and a two-hundred day simple moving average of $61.85. The company has a quick ratio of 0.93, a current ratio of 1.56 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last released its quarterly earnings data on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.01. Corning had a net margin of 9.16% and a return on equity of 18.12%. The firm had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same period last year, the business earned $0.54 earnings per share. Corning’s revenue was up 20.9% compared to the same quarter last year. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. As a group, equities analysts forecast that Corning Incorporated will post 2.33 EPS for the current year.

Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 14th will be issued a dividend of $0.28 per share. The ex-dividend date is Friday, November 14th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.3%. Corning’s dividend payout ratio (DPR) is currently 70.89%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GLW. Susquehanna raised their price target on shares of Corning from $75.00 to $100.00 and gave the stock a “positive” rating in a report on Wednesday. UBS Group raised their target price on Corning from $91.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday. Barclays raised their price objective on Corning from $65.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Mizuho set a $97.00 price objective on Corning in a research report on Wednesday. Finally, Wall Street Zen cut shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Saturday, September 13th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $90.82.

Hedge Funds Weigh In On Corning

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings 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 valued at $5,151,301,000 after purchasing an additional 1,582,895 shares in the last quarter. State Street Corp grew its holdings in shares of Corning by 1.4% in the second quarter. State Street Corp now owns 36,568,973 shares of the electronics maker’s stock valued at $1,923,162,000 after purchasing an additional 509,013 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Corning by 0.6% in the second quarter. Geode Capital Management LLC now owns 19,443,525 shares of the electronics maker’s stock worth $1,018,629,000 after acquiring an additional 112,739 shares in the last quarter. Ameriprise Financial Inc. grew its stake 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 acquiring an additional 1,036,988 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Corning in the second quarter worth $534,936,000. 69.80% of the stock is owned by institutional investors and hedge funds.

About Corning

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.