Corning Incorporated $GLW Shares Sold by Neville Rodie & Shaw Inc.

Neville Rodie & Shaw Inc. lessened its holdings in shares of Corning Incorporated (NYSE:GLW) by 0.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 68,769 shares of the electronics maker’s stock after selling 200 shares during the quarter. Neville Rodie & Shaw Inc.’s holdings in Corning were worth $3,617,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Central Pacific Bank Trust Division grew its position in shares of 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 acquiring an additional 13,920 shares in the last quarter. AG2R LA Mondiale Gestion D Actifs acquired a new position in shares of Corning in the 1st quarter worth approximately $1,611,000. Swedbank AB grew its position in shares of Corning by 98.1% in the 1st quarter. Swedbank AB now owns 63,946 shares of the electronics maker’s stock worth $2,927,000 after acquiring an additional 31,659 shares in the last quarter. Voya Investment Management LLC grew its position in shares of Corning by 122.2% in the 1st quarter. Voya Investment Management LLC now owns 551,462 shares of the electronics maker’s stock worth $25,246,000 after acquiring an additional 303,247 shares in the last quarter. Finally, First Hawaiian Bank grew its position in shares of Corning by 8.9% in the 1st quarter. First Hawaiian Bank now owns 24,437 shares of the electronics maker’s stock worth $1,119,000 after acquiring an additional 1,991 shares in the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Trading Up 2.1%

NYSE:GLW opened at $77.03 on Friday. Corning Incorporated has a 12-month low of $37.31 and a 12-month high of $77.87. The firm has a market capitalization of $65.99 billion, a P/E ratio of 81.95, a P/E/G ratio of 1.69 and a beta of 1.09. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.50 and a quick ratio of 0.93. The business has a 50 day simple moving average of $62.75 and a 200 day simple moving average of $52.48.

Corning (NYSE:GLW) last announced 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. Corning had a return on equity of 17.27% and a net margin of 5.77%.The firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same quarter in the previous year, the business earned $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Equities research analysts predict that Corning Incorporated will post 2.33 EPS for the current year.

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Friday, August 29th. Corning’s payout ratio is 119.15%.

Insider Activity at Corning

In other Corning news, CEO Wendell P. Weeks sold 82,103 shares of the business’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $65.19, for a total transaction of $5,352,294.57. Following the completion of the transaction, the chief executive officer owned 809,295 shares in the company, valued at approximately $52,757,941.05. The trade was a 9.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Avery H. Nelson III sold 36,240 shares of the business’s stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $62.26, for a total value of $2,256,302.40. Following the transaction, the chief operating officer owned 64,838 shares of the company’s stock, valued at $4,036,813.88. This trade represents a 35.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 163,950 shares of company stock worth $10,449,192 in the last ninety days. 0.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently commented on GLW. Oppenheimer reiterated an “outperform” rating and issued a $72.00 target price (up previously from $55.00) on shares of Corning in a research report on Wednesday, July 30th. Mizuho lifted their target price on Corning from $63.00 to $74.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Susquehanna reiterated a “positive” rating and issued a $75.00 target price (up previously from $60.00) on shares of Corning in a research report on Wednesday, July 30th. Citigroup lifted their target price on Corning from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. Finally, UBS Group upgraded Corning from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $65.00 to $84.00 in a research report on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $66.75.

Corning 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.