New York State Common Retirement Fund Raises Holdings in Corning Incorporated $GLW

New York State Common Retirement Fund increased its position in Corning Incorporated (NYSE:GLW) by 2.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 315,445 shares of the electronics maker’s stock after buying an additional 8,689 shares during the period. New York State Common Retirement Fund’s holdings in Corning were worth $16,589,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Parkside Financial Bank & Trust raised its holdings in shares of Corning by 3.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 5,296 shares of the electronics maker’s stock worth $278,000 after acquiring an additional 158 shares in the last quarter. Empirical Finance LLC raised its stake in Corning by 0.7% during the second quarter. Empirical Finance LLC now owns 27,043 shares of the electronics maker’s stock valued at $1,422,000 after purchasing an additional 184 shares in the last quarter. Zions Bancorporation National Association UT lifted its position in Corning by 3.3% during the second quarter. Zions Bancorporation National Association UT now owns 5,746 shares of the electronics maker’s stock valued at $302,000 after purchasing an additional 185 shares during the last quarter. Forte Capital LLC ADV lifted its position in Corning by 2.4% during the second quarter. Forte Capital LLC ADV now owns 7,973 shares of the electronics maker’s stock valued at $419,000 after purchasing an additional 190 shares during the last quarter. Finally, Westside Investment Management Inc. increased its holdings in shares of Corning by 8.3% in the 2nd quarter. Westside Investment Management Inc. now owns 2,565 shares of the electronics maker’s stock worth $135,000 after buying an additional 197 shares during the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Insider Activity at Corning

In other Corning news, SVP Jaymin Amin sold 17,721 shares of Corning stock in a transaction on Wednesday, September 17th. The stock was 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. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Edward A. Schlesinger sold 20,893 shares of the company’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 completion of the sale, the chief financial officer owned 66,959 shares of the company’s stock, valued at $6,110,008.75. This represents a 23.78% 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 over the last three months. Corporate insiders own 0.32% of the company’s stock.

Corning Price Performance

GLW opened at $83.68 on Wednesday. The business has a fifty day moving average of $84.54 and a 200 day moving average of $68.22. The stock has a market cap of $71.75 billion, a P/E ratio of 52.96, a PEG ratio of 1.81 and a beta of 1.11. The company has a quick ratio of 1.00, a current ratio of 1.56 and a debt-to-equity ratio of 0.62. Corning Incorporated has a 52-week low of $37.31 and a 52-week high of $92.57.

Corning (NYSE:GLW) last released its quarterly earnings data on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.01. The company had revenue of $4.10 billion during the quarter, compared to analysts’ expectations 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 company earned $0.54 EPS. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. As a group, sell-side analysts anticipate that Corning Incorporated will post 2.33 EPS for the current year.

Corning Announces Dividend

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 paid 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 1.3%. Corning’s dividend payout ratio is 70.89%.

Analyst Upgrades and Downgrades

GLW has been the topic of a number of recent research reports. Oppenheimer set a $100.00 price objective on Corning and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 21st. Mizuho set a $97.00 price target on Corning in a research report on Wednesday, October 29th. UBS Group reaffirmed a “buy” rating and set a $109.00 price objective (up from $100.00) on shares of Corning in a research note on Friday, November 21st. Finally, Argus increased their target price on shares of Corning from $68.00 to $110.00 and gave the company 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 issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.