Moors & Cabot Inc. Reduces Holdings in Corning Incorporated $GLW

Moors & Cabot Inc. reduced its stake in shares of Corning Incorporated (NYSE:GLW) by 1.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,356 shares of the electronics maker’s stock after selling 1,112 shares during the period. Moors & Cabot Inc.’s holdings in Corning were worth $2,964,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Blue Barn Wealth LLC acquired a new position in Corning during the 2nd quarter worth $211,000. NewSquare Capital LLC grew its holdings in Corning by 183.5% during the 2nd quarter. NewSquare Capital LLC now owns 1,219 shares of the electronics maker’s stock worth $64,000 after acquiring an additional 789 shares in the last quarter. Huntington National Bank grew its holdings in Corning by 1.4% during the 2nd quarter. Huntington National Bank now owns 72,796 shares of the electronics maker’s stock worth $3,828,000 after acquiring an additional 1,027 shares in the last quarter. Levin Capital Strategies L.P. grew its holdings in Corning by 208.5% during the 2nd quarter. Levin Capital Strategies L.P. now owns 15,533 shares of the electronics maker’s stock worth $817,000 after acquiring an additional 10,498 shares in the last quarter. Finally, Obermeyer Wealth Partners grew its holdings in Corning by 8.5% during the 2nd quarter. Obermeyer Wealth Partners now owns 11,441 shares of the electronics maker’s stock worth $602,000 after acquiring an additional 894 shares in the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.

Corning Stock Up 2.2%

GLW stock opened at $87.10 on Thursday. 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 $74.61 billion, a price-to-earnings ratio of 55.13, a price-to-earnings-growth ratio of 1.99 and a beta of 1.14. The firm’s 50-day moving average is $80.93 and its two-hundred day moving average is $62.93. The company has a current ratio of 1.56, a quick ratio of 0.93 and a debt-to-equity ratio of 0.62.

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

Corning Announces Dividend

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

Insiders Place Their Bets

In related news, EVP Lewis A. Steverson sold 23,142 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $89.05, for a total value of $2,060,795.10. Following the sale, the executive vice president directly owned 17,575 shares in the company, valued at $1,565,053.75. The trade was a 56.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Stefan Becker sold 12,100 shares of the business’s stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $91.28, for a total transaction of $1,104,488.00. Following the completion of the sale, the senior vice president owned 5,049 shares in the company, valued at $460,872.72. The trade was a 70.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 173,856 shares of company stock worth $15,456,476. Company insiders own 0.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GLW. Weiss Ratings reissued a “hold (c+)” rating on shares of Corning in a report on Wednesday, October 8th. Susquehanna raised their price objective on shares of Corning from $75.00 to $100.00 and gave the stock a “positive” rating in a report on Wednesday, October 29th. Morgan Stanley set a $82.00 price target on shares of Corning in a report on Wednesday, October 29th. UBS Group lifted their price target on shares of Corning from $91.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Finally, Citigroup lifted their price target on shares of Corning from $93.00 to $99.00 and gave the company 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 assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $90.82.

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.