Legal & General Group Plc Has $282.34 Million Holdings in Corning Incorporated $GLW

Legal & General Group Plc decreased its holdings in Corning Incorporated (NYSE:GLW) by 4.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,368,746 shares of the electronics maker’s stock after selling 224,638 shares during the period. Legal & General Group Plc owned about 0.63% of Corning worth $282,342,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. REAP Financial Group LLC increased its holdings in shares of Corning by 191.5% during the 2nd quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock worth $27,000 after acquiring an additional 339 shares during the last quarter. Investment Management Corp VA ADV lifted its holdings in Corning by 165.9% during the 1st quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 463 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC boosted its position in Corning by 90.1% during the first 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 during the period. Resources Management Corp CT ADV boosted its position in Corning by 66.7% during the first quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 300 shares during the period. Finally, Gen Wealth Partners Inc increased its holdings in shares of Corning by 151.7% in the first quarter. Gen Wealth Partners Inc now owns 755 shares of the electronics maker’s stock valued at $35,000 after purchasing an additional 455 shares during the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Corning

In related news, CFO Edward A. Schlesinger sold 20,893 shares of the firm’s stock in a transaction on Friday, October 31st. The stock was 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 in the company, valued at approximately $6,110,008.75. This trade represents a 23.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jaymin Amin sold 17,721 shares of the business’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $77.18, for a total value of $1,367,706.78. Following the completion of the transaction, the senior vice president directly owned 88,722 shares of the company’s stock, valued at approximately $6,847,563.96. This trade represents a 16.65% decrease in their position. 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 quarter. 0.40% of the stock is currently owned by corporate insiders.

Corning Stock Performance

NYSE GLW opened at $79.37 on Friday. The firm has a 50-day moving average price of $83.93 and a two-hundred day moving average price of $66.26. Corning Incorporated has a 12-month low of $37.31 and a 12-month high of $92.57. The company has a market capitalization of $68.05 billion, a P/E ratio of 50.23, a P/E/G ratio of 1.99 and a beta of 1.15. 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 (NYSE:GLW) last released 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. The company had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.24 billion. Corning had a net margin of 9.16% and a return on equity of 18.12%. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.54 earnings per share. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. 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 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, November 14th. Corning’s dividend payout ratio is presently 70.89%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Corning in a research note on Wednesday. Wall Street Zen cut shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Saturday, September 13th. Citigroup raised their price objective on shares of Corning from $93.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Oppenheimer set a $100.00 target price on Corning and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Finally, Argus increased their target price on Corning from $68.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. One research 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. According to data from MarketBeat, Corning presently has an average rating of “Moderate Buy” and an average price target of $91.64.

About Corning

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.