Thoroughbred Financial Services LLC Sells 12,027 Shares of Corning Incorporated $GLW

Thoroughbred Financial Services LLC lowered its position in Corning Incorporated (NYSE:GLW) by 19.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 49,760 shares of the electronics maker’s stock after selling 12,027 shares during the period. Thoroughbred Financial Services LLC’s holdings in Corning were worth $2,616,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Davis Investment Partners LLC acquired a new stake in shares of Corning in the 2nd quarter worth about $251,000. Central Pacific Bank Trust Division increased its holdings in Corning by 23.6% during the 2nd quarter. Central Pacific Bank Trust Division now owns 72,982 shares of the electronics maker’s stock worth $3,838,000 after purchasing an additional 13,920 shares in the last quarter. Motley Fool Asset Management LLC raised its stake in shares of Corning by 10.5% in the second quarter. Motley Fool Asset Management LLC now owns 44,037 shares of the electronics maker’s stock worth $2,316,000 after purchasing an additional 4,183 shares during the last quarter. Strs Ohio bought a new position in shares of Corning in the first quarter valued at approximately $27,219,000. Finally, Acadian Asset Management LLC boosted its position in shares of Corning by 4,346.5% during the first quarter. Acadian Asset Management LLC now owns 153,984 shares of the electronics maker’s stock valued at $7,048,000 after buying an additional 150,521 shares during the last quarter. Institutional investors own 69.80% of the company’s stock.

Corning Stock Down 0.6%

Corning stock opened at $81.83 on Friday. The firm has a 50 day moving average price of $83.36 and a 200-day moving average price of $65.04. The company has a quick ratio of 0.93, a current ratio of 1.56 and a debt-to-equity ratio of 0.62. Corning Incorporated has a twelve month low of $37.31 and a twelve month high of $92.57. The company has a market capitalization of $70.16 billion, a P/E ratio of 51.79, a P/E/G ratio of 1.99 and a beta of 1.15.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, October 28th. The electronics maker reported $0.67 EPS for the quarter, beating the consensus estimate of $0.66 by $0.01. Corning had a return on equity of 18.12% and a net margin of 9.16%.The business had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the prior year, the business earned $0.54 earnings per share. Corning’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. As a group, equities analysts predict that Corning Incorporated will post 2.33 EPS for the current year.

Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 14th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.12 annualized dividend and a yield of 1.4%. Corning’s dividend payout ratio (DPR) is 70.89%.

Insiders Place Their Bets

In other news, CFO Edward A. Schlesinger sold 20,893 shares of Corning stock in a transaction dated 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 completion of the transaction, the chief financial officer owned 66,959 shares in the company, valued at $6,110,008.75. This trade represents a 23.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 sale, the senior vice president owned 88,722 shares in the company, valued at $6,847,563.96. The trade was a 16.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 173,856 shares of company stock worth $15,456,476 in the last ninety days. 0.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on GLW shares. Susquehanna increased their price target on Corning from $75.00 to $100.00 and gave the company a “positive” rating in a research report on Wednesday, October 29th. Barclays increased their target price on shares of Corning from $65.00 to $83.00 and gave the company an “equal weight” rating in a report on Wednesday, October 29th. Weiss Ratings restated a “buy (b-)” rating on shares of Corning in a report on Thursday. Wall Street Zen downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Saturday, September 13th. Finally, Argus lifted their target price 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. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus 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.