WESCAP Management Group Inc. Sells 1,704 Shares of Corning Incorporated $GLW

WESCAP Management Group Inc. cut its stake in Corning Incorporated (NYSE:GLW) by 6.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,755 shares of the electronics maker’s stock after selling 1,704 shares during the period. WESCAP Management Group Inc.’s holdings in Corning were worth $1,302,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of GLW. REAP Financial Group LLC raised its stake in Corning by 191.5% during the second quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock worth $27,000 after acquiring an additional 339 shares in the last quarter. Investment Management Corp VA ADV grew its holdings in shares of Corning by 165.9% in the 1st quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 463 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its position in shares of Corning by 90.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 353 shares in the last quarter. Banque Transatlantique SA acquired a new stake in shares of Corning during the 1st quarter worth about $34,000. Finally, Resources Management Corp CT ADV lifted its holdings in Corning by 66.7% during the 1st quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Price Performance

GLW opened at $85.40 on Friday. The company has a fifty day moving average price of $81.68 and a two-hundred day moving average price of $63.42. The firm has a market capitalization of $73.22 billion, a PE ratio of 54.05, a P/E/G ratio of 1.99 and a beta of 1.15. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $92.57. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.93 and a current ratio of 1.56.

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

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders 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 dividend yield of 1.3%. The ex-dividend date is Friday, November 14th. Corning’s payout ratio is presently 70.89%.

Insider Buying and Selling

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 transaction of $2,060,795.10. Following the completion of the transaction, the executive vice president owned 17,575 shares in the company, valued at approximately $1,565,053.75. The trade was a 56.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $1,367,706.78. Following the completion of the sale, the senior vice president directly owned 88,722 shares of the company’s stock, valued at $6,847,563.96. The trade was a 16.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 173,856 shares of company stock worth $15,456,476 over the last quarter. Insiders own 0.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Barclays increased their price target on Corning from $65.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 29th. Susquehanna raised their target price on Corning from $75.00 to $100.00 and gave the company a “positive” rating in a research note on Wednesday, October 29th. Oppenheimer set a $100.00 price target on Corning and gave the company an “outperform” rating in a report on Wednesday, October 29th. UBS Group increased their price objective on shares of Corning from $91.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, Morgan Stanley set a $82.00 price objective on shares of Corning in a research report on Wednesday, October 29th. One investment 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.com, the stock currently has a consensus 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.