Corning Incorporated $GLW Shares Bought by Cerity Partners LLC

Cerity Partners LLC increased its position in shares of Corning Incorporated (NYSE:GLW) by 3.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 545,681 shares of the electronics maker’s stock after acquiring an additional 17,313 shares during the period. Cerity Partners LLC’s holdings in Corning were worth $28,701,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in Corning in the second quarter valued at $534,936,000. Amundi lifted its stake in Corning by 64.3% during the first quarter. Amundi now owns 6,408,605 shares of the electronics maker’s stock worth $271,237,000 after purchasing an additional 2,507,797 shares during the last quarter. Nuveen LLC acquired a new stake in Corning during the first quarter worth approximately $104,789,000. Kingstone Capital Partners Texas LLC acquired a new position in shares of Corning in the 2nd quarter valued at $92,560,000. Finally, Vanguard Group Inc. grew its position in shares of Corning by 1.6% in 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 during the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on GLW shares. Citigroup boosted their price target on shares of Corning from $93.00 to $99.00 and gave the company 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. Zacks Research lowered Corning from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 21st. Morgan Stanley set a $82.00 price objective on Corning in a research note on Wednesday, October 29th. Finally, Barclays raised their target price on shares of Corning from $65.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 29th. One 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 stock. According to MarketBeat, Corning currently has an average rating of “Moderate Buy” and an average target price of $91.64.

Insider Transactions at Corning

In other 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 completion of the transaction, the chief financial officer owned 66,959 shares in the company, valued at $6,110,008.75. This trade represents a 23.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Lewis A. Steverson sold 23,142 shares of Corning stock in a transaction on Friday, October 31st. The stock was sold at an average price of $89.05, for a total value of $2,060,795.10. Following the transaction, the executive vice president directly owned 17,575 shares of the company’s stock, valued at $1,565,053.75. This trade represents a 56.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 173,856 shares of company stock valued at $15,456,476. 0.32% of the stock is owned by company insiders.

Corning Stock Performance

NYSE:GLW opened at $88.18 on Tuesday. Corning Incorporated has a 1-year low of $37.31 and a 1-year high of $92.57. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.56 and a quick ratio of 1.00. The firm’s fifty day moving average price is $85.04 and its 200 day moving average price is $69.28. The firm has a market cap of $75.60 billion, a price-to-earnings ratio of 55.81, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.01. The firm 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 revenue for the quarter was up 20.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.54 earnings per share. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. On average, sell-side analysts expect that Corning Incorporated will post 2.33 EPS for the current year.

Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 14th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, November 14th. Corning’s dividend payout ratio (DPR) is currently 70.89%.

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.