Corning Incorporated $GLW Position Cut by Rathbones Group PLC

Rathbones Group PLC lowered its holdings in shares of Corning Incorporated (NYSE:GLW) by 6.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,265 shares of the electronics maker’s stock after selling 580 shares during the period. Rathbones Group PLC’s holdings in Corning were worth $435,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Amundi lifted its holdings in Corning by 64.3% in the first quarter. Amundi now owns 6,408,605 shares of the electronics maker’s stock worth $271,237,000 after purchasing an additional 2,507,797 shares during the period. Nuveen LLC acquired a new stake in shares of Corning in the 1st quarter worth approximately $104,789,000. Kingstone Capital Partners Texas LLC bought a new position in shares of Corning in the second quarter valued at approximately $92,560,000. Robeco Institutional Asset Management B.V. increased its stake in shares of Corning by 185.7% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,801,411 shares of the electronics maker’s stock valued at $94,736,000 after acquiring an additional 1,170,992 shares during the period. Finally, Deutsche Bank AG raised its holdings in Corning by 37.1% during the first quarter. Deutsche Bank AG now owns 3,835,799 shares of the electronics maker’s stock worth $175,603,000 after purchasing an additional 1,037,875 shares in the last quarter. Institutional investors own 69.80% of the company’s stock.

Corning Trading Down 0.7%

NYSE:GLW opened at $87.92 on Wednesday. The stock has a market cap of $75.38 billion, a PE ratio of 55.65, a price-to-earnings-growth ratio of 1.99 and a beta of 1.15. Corning Incorporated has a fifty-two week low of $37.31 and a fifty-two week high of $92.57. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.56 and a quick ratio of 0.93. The stock’s 50-day moving average is $82.50 and its two-hundred day moving average is $64.34.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share (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 business had revenue of $4.27 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period in the prior year, the firm earned $0.54 earnings per share. The firm’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 research analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current fiscal 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. 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 currently 70.89%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. UBS Group lifted their price target on Corning from $91.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Argus boosted their price target on shares of Corning from $68.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Wall Street Zen lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Saturday, September 13th. Oppenheimer set a $100.00 target price on shares of Corning and gave the stock an “outperform” rating in a report on Wednesday, October 29th. Finally, Morgan Stanley set a $82.00 target price on shares of Corning in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $90.82.

Insiders Place Their Bets

In related news, SVP Stefan Becker sold 12,100 shares of the firm’s stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $91.28, for a total transaction of $1,104,488.00. Following the transaction, the senior vice president owned 5,049 shares of the company’s stock, valued at approximately $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 through the SEC website. Also, insider Eric S. Musser sold 100,000 shares of Corning stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $90.17, for a total transaction of $9,017,000.00. Following the completion of the sale, the insider owned 44,926 shares of the company’s stock, valued at $4,050,977.42. This trade represents a 69.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 173,856 shares of company stock worth $15,456,476 in the last quarter. Corporate insiders own 0.40% of the company’s stock.

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.