Louisiana State Employees Retirement System Lowers Stock Position in Corning Incorporated $GLW

Louisiana State Employees Retirement System reduced its stake in shares of Corning Incorporated (NYSE:GLW) by 1.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,700 shares of the electronics maker’s stock after selling 800 shares during the period. Louisiana State Employees Retirement System’s holdings in Corning were worth $2,140,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Davis Investment Partners LLC purchased a new position in Corning in the 2nd quarter worth approximately $251,000. Central Pacific Bank Trust Division lifted its holdings in Corning by 23.6% in 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. Strs Ohio purchased a new position in Corning in the 1st quarter worth approximately $27,219,000. Acadian Asset Management LLC lifted its holdings in Corning by 4,346.5% in the 1st quarter. Acadian Asset Management LLC now owns 153,984 shares of the electronics maker’s stock worth $7,048,000 after purchasing an additional 150,521 shares in the last quarter. Finally, Intech Investment Management LLC lifted its holdings in Corning by 507.6% in the 1st quarter. Intech Investment Management LLC now owns 211,124 shares of the electronics maker’s stock worth $9,665,000 after purchasing an additional 176,379 shares in the last quarter. 69.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GLW has been the topic of a number of research analyst reports. Mizuho boosted their price target on Corning from $74.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, October 3rd. JPMorgan Chase & Co. boosted their price target on Corning from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, July 25th. Wall Street Zen cut Corning from a “strong-buy” rating to a “hold” rating in a report on Saturday, September 13th. Oppenheimer reaffirmed an “outperform” rating and set a $72.00 price objective (up from $55.00) on shares of Corning in a report on Wednesday, July 30th. Finally, Susquehanna reaffirmed a “positive” rating and set a $75.00 price objective (up from $60.00) on shares of Corning in a report on Wednesday, July 30th. One research 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Corning Stock Performance

NYSE GLW opened at $83.00 on Friday. The company has a market cap of $71.10 billion, a P/E ratio of 88.30, a P/E/G ratio of 1.95 and a beta of 1.14. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.50. The business’s 50 day moving average price is $73.19 and its 200-day moving average price is $57.18. Corning Incorporated has a fifty-two week low of $37.31 and a fifty-two week high of $87.78.

Corning (NYSE:GLW) last released its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. The firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.84 billion. Corning had a return on equity of 17.27% and a net margin of 5.77%.During the same quarter in the previous year, the company posted $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Sell-side analysts predict 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. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.12 annualized dividend and a dividend yield of 1.3%. Corning’s payout ratio is currently 119.15%.

Insider Activity

In other news, COO Avery H. Nelson III sold 36,240 shares of the business’s stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $62.26, for a total transaction of $2,256,302.40. Following the transaction, the chief operating officer owned 64,838 shares of the company’s stock, valued at approximately $4,036,813.88. The trade was a 35.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Michael Paul O’day sold 14,879 shares of the company’s stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $62.36, for a total value of $927,854.44. Following the completion of the transaction, the senior vice president directly owned 35,743 shares in the company, valued at $2,228,933.48. This trade represents a 29.39% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 181,671 shares of company stock worth $11,816,899. Company insiders own 0.40% of the company’s stock.

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.