Resona Asset Management Co. Ltd. Sells 14,124 Shares of Corning Incorporated $GLW

Resona Asset Management Co. Ltd. trimmed its holdings in Corning Incorporated (NYSE:GLW) by 5.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 250,679 shares of the electronics maker’s stock after selling 14,124 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Corning were worth $20,491,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. REAP Financial Group LLC lifted its holdings in Corning by 191.5% in the 2nd quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock worth $27,000 after purchasing an additional 339 shares in the last quarter. Total Investment Management Inc. bought a new stake in shares of Corning during the second quarter valued at approximately $28,000. Financial Management Professionals Inc. lifted its holdings in shares of Corning by 111.1% in the third quarter. Financial Management Professionals Inc. now owns 380 shares of the electronics maker’s stock worth $31,000 after buying an additional 200 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Corning in the second quarter worth $36,000. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of Corning during the second quarter worth $38,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Corning Trading Down 1.0%

GLW opened at $93.37 on Friday. The firm has a market cap of $80.05 billion, a P/E ratio of 59.09, a P/E/G ratio of 1.64 and a beta of 1.13. Corning Incorporated has a 12 month low of $37.31 and a 12 month high of $96.64. The company has a current ratio of 1.56, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62. The stock has a 50-day moving average of $87.63 and a 200 day moving average of $78.39.

Corning (NYSE:GLW) last issued its quarterly earnings data on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. The business had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.24 billion. Corning had a return on equity of 18.12% and a net margin of 9.16%.The company’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.54 earnings per share. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. As a group, research analysts forecast that Corning Incorporated will post 2.33 EPS for the current year.

Analyst Upgrades and Downgrades

GLW has been the topic of a number of research reports. Citigroup lifted their price target on shares of Corning from $99.00 to $102.00 and gave the company a “buy” rating in a report on Monday, January 12th. Weiss Ratings restated a “buy (b-)” rating on shares of Corning in a research report on Monday, December 29th. Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 21st. Argus increased their price target on Corning from $68.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Finally, JPMorgan Chase & Co. lifted their price objective on Corning from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Corning has an average rating of “Moderate Buy” and a consensus price target of $93.36.

Insider Buying and Selling

In other news, CFO Edward A. Schlesinger sold 20,893 shares of the stock in a transaction on 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 sale, the chief financial officer owned 66,959 shares of the company’s stock, valued at approximately $6,110,008.75. This represents a 23.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 stock was 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 position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 156,135 shares of company stock worth $14,088,769. 0.40% of the stock is currently owned by corporate insiders.

About Corning

Corning Incorporated is a global manufacturer specializing in specialty glass, ceramics and related materials and technologies. Headquartered in Corning, New York, the company supplies engineered materials and components used across multiple industries, including consumer electronics, telecommunications, automotive emissions control, pharmaceutical and life sciences, and industrial and scientific applications. Corning emphasizes materials science and precision manufacturing to develop durable, high-performance glass and ceramic products.

Key product lines include specialty display glass used by television and mobile-device manufacturers, cover glass marketed under well-known trade names for smartphones and tablets, and optical fiber and cable and related hardware for telecommunications networks.