Corning (NYSE:GLW) EVP Sells $2,060,795.10 in Stock

Corning Incorporated (NYSE:GLW) EVP Lewis Steverson sold 23,142 shares of the firm’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $89.05, for a total transaction of $2,060,795.10. Following the transaction, the executive vice president owned 17,575 shares of the company’s stock, valued at $1,565,053.75. This trade represents a 56.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Corning Price Performance

NYSE:GLW traded down $1.65 during mid-day trading on Monday, hitting $87.43. 4,934,797 shares of the company’s stock traded hands, compared to its average volume of 6,266,335. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.93 and a current ratio of 1.56. The firm’s 50 day simple moving average is $80.18 and its 200 day simple moving average is $62.46. Corning Incorporated has a 1 year low of $37.31 and a 1 year high of $92.57. The company has a market cap of $74.89 billion, a PE ratio of 55.34, a price-to-earnings-growth ratio of 1.99 and a beta of 1.14.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share for the quarter, beating 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 the consensus estimate of $4.24 billion. During the same period last year, the firm posted $0.54 EPS. The firm’s revenue for the quarter was up 20.9% on a year-over-year basis. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. Sell-side analysts expect that Corning Incorporated will post 2.33 EPS for the current year.

Corning Dividend Announcement

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 payout ratio is 70.89%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on GLW shares. JPMorgan Chase & Co. lifted their price target on shares of Corning from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Susquehanna lifted 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, October 29th. Oppenheimer set a $100.00 price target on shares of Corning and gave the stock an “outperform” rating in a report on Wednesday, October 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Corning in a report on Wednesday, October 8th. Finally, Citigroup lifted their price target on shares of Corning from $93.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Corning currently has an average rating of “Moderate Buy” and a consensus price target of $90.82.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GLW. REAP Financial Group LLC lifted its position in Corning by 191.5% during the second quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock valued at $27,000 after buying an additional 339 shares in the last quarter. Total Investment Management Inc. acquired a new position in Corning during the second quarter valued at approximately $28,000. Financial Management Professionals Inc. lifted its position in Corning by 111.1% during the third quarter. Financial Management Professionals Inc. now owns 380 shares of the electronics maker’s stock valued at $31,000 after buying an additional 200 shares in the last quarter. Investment Management Corp VA ADV lifted its position in Corning by 165.9% during the first quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker’s stock valued at $34,000 after buying an additional 463 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its position in Corning by 90.1% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker’s stock valued at $34,000 after buying an additional 353 shares in the last quarter. 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.