Virtue Capital Management LLC Sells 2,729 Shares of Corning Incorporated $GLW

Virtue Capital Management LLC cut its position in Corning Incorporated (NYSE:GLW) by 10.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,907 shares of the electronics maker’s stock after selling 2,729 shares during the quarter. Virtue Capital Management LLC’s holdings in Corning were worth $1,257,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in Corning by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 97,952,109 shares of the electronics maker’s stock valued at $5,151,301,000 after buying an additional 1,582,895 shares in the last quarter. Davis Investment Partners LLC acquired a new stake in Corning in the second quarter worth about $251,000. Central Pacific Bank Trust Division grew its stake in shares of Corning by 23.6% during the second quarter. Central Pacific Bank Trust Division now owns 72,982 shares of the electronics maker’s stock worth $3,838,000 after acquiring an additional 13,920 shares during the last quarter. Motley Fool Asset Management LLC increased its holdings in shares of Corning by 10.5% during the second quarter. Motley Fool Asset Management LLC now owns 44,037 shares of the electronics maker’s stock valued at $2,316,000 after acquiring an additional 4,183 shares in the last quarter. Finally, Strs Ohio acquired a new position in shares of Corning during the first quarter valued at about $27,219,000. 69.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on GLW. Citigroup lifted their target price on shares of Corning from $93.00 to $99.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Corning in a research note on Tuesday. Morgan Stanley set a $82.00 price objective on shares of Corning in a report on Wednesday, October 29th. UBS Group restated a “buy” rating and issued a $109.00 target price (up previously from $100.00) on shares of Corning in a research note on Friday, November 21st. Finally, Oppenheimer set a $100.00 price target on Corning and gave the company an “outperform” rating in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Corning currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.64.

Insider Activity

In other Corning news, SVP Stefan Becker sold 12,100 shares of the company’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $91.28, for a total value of $1,104,488.00. Following the completion of the transaction, the senior vice president owned 5,049 shares in the company, valued at approximately $460,872.72. This represents a 70.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Eric S. Musser sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $90.17, for a total value of $9,017,000.00. Following the sale, the insider owned 44,926 shares in the company, valued at $4,050,977.42. This trade represents a 69.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 173,856 shares of company stock valued at $15,456,476 in the last three months. Corporate insiders own 0.40% of the company’s stock.

Corning Stock Up 0.9%

Shares of GLW opened at $83.68 on Friday. The company has a market capitalization of $71.75 billion, a price-to-earnings ratio of 52.96, a PEG 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 stock’s 50-day moving average price is $84.32 and its 200-day moving average price is $67.18. 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 announced its quarterly earnings results on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share 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 company had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same period last year, the business earned $0.54 earnings per share. Corning’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. On average, sell-side analysts predict that Corning Incorporated will post 2.33 EPS for the current year.

Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 14th will be paid a $0.28 dividend. 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%.

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.