Edward Schlesinger Sells 20,893 Shares of Corning (NYSE:GLW) Stock

Corning Incorporated (NYSE:GLW) CFO Edward Schlesinger sold 20,893 shares of Corning stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $91.25, for a total value of $1,906,486.25. Following the transaction, the chief financial officer owned 66,959 shares of the company’s stock, valued at approximately $6,110,008.75. This represents a 23.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Corning Stock Down 2.7%

Shares of GLW stock opened at $85.17 on Wednesday. The stock has a 50 day moving average of $80.54 and a 200 day moving average of $62.76. The company has a current ratio of 1.56, a quick ratio of 0.93 and a debt-to-equity ratio of 0.62. The stock has a market cap of $72.96 billion, a P/E ratio of 53.91, a P/E/G ratio of 1.99 and a beta of 1.14. Corning Incorporated has a twelve month low of $37.31 and a twelve month high of $92.57.

Corning (NYSE:GLW) last announced its quarterly 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. The company had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Corning had a return on equity of 18.12% and a net margin of 9.16%.Corning’s quarterly revenue was up 20.9% on a year-over-year basis. During the same period last year, the business earned $0.54 earnings per share. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. As a group, sell-side analysts expect that Corning Incorporated will post 2.33 EPS for the current year.

Corning Announces Dividend

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

Institutional Trading of Corning

Institutional investors have recently made changes to their positions in the company. Strengthening Families & Communities LLC acquired a new stake in shares of Corning in the third quarter worth approximately $27,000. Cornerstone Planning Group LLC boosted its stake in Corning by 58.5% during the third quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker’s stock worth $30,000 after buying an additional 124 shares during the last quarter. Financial Management Professionals Inc. lifted its stake in shares of Corning by 111.1% in the 3rd quarter. Financial Management Professionals Inc. now owns 380 shares of the electronics maker’s stock valued at $31,000 after purchasing an additional 200 shares during the last quarter. RMG Wealth Management LLC lifted its stake in shares of Corning by 125.0% in the 3rd quarter. RMG Wealth Management LLC now owns 450 shares of the electronics maker’s stock valued at $38,000 after purchasing an additional 250 shares during the last quarter. Finally, Bayforest Capital Ltd acquired a new position in Corning during the 3rd quarter worth about $39,000. 69.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GLW. Weiss Ratings reiterated a “hold (c+)” rating on shares of Corning in a research report on Wednesday, October 8th. Wall Street Zen cut Corning from a “strong-buy” rating to a “hold” rating in a research report on Saturday, September 13th. Barclays boosted their price objective on Corning from $65.00 to $83.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 29th. Susquehanna boosted their price objective on Corning from $75.00 to $100.00 and gave the company a “positive” rating in a research report on Wednesday, October 29th. Finally, Wolfe Research assumed coverage on Corning in a research report on Tuesday, July 8th. They issued an “outperform” rating for the company. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Corning has an average rating of “Moderate Buy” and an average target price of $90.82.

Corning Company 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.