Insider Selling: Corning (NYSE:GLW) CFO Sells 20,893 Shares of Stock

Corning Incorporated (NYSE:GLW) CFO Edward 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 transaction of $1,906,486.25. Following the transaction, the chief financial officer directly owned 66,959 shares in the company, valued at $6,110,008.75. The trade was a 23.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Corning Stock Performance

GLW traded down $1.65 on Monday, hitting $87.43. 4,934,797 shares of the company traded hands, compared to its average volume of 6,266,335. The company has a 50 day moving average of $80.18 and a 200-day moving average of $62.46. The company has a quick ratio of 0.93, a current ratio of 1.56 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $74.89 billion, a PE ratio of 55.34, a PEG ratio of 1.99 and a beta of 1.14. Corning Incorporated has a 12-month low of $37.31 and a 12-month high of $92.57.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, October 28th. The electronics maker reported $0.67 EPS for the quarter, beating the consensus estimate of $0.66 by $0.01. The firm had revenue of $4.27 billion during 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 firm’s revenue was up 20.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.54 EPS. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. Sell-side analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 14th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, November 14th. Corning’s dividend payout ratio is 70.89%.

Institutional Investors Weigh In On Corning

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Financial Management Professionals Inc. lifted its stake in shares of Corning by 111.1% during the third quarter. Financial Management Professionals Inc. now owns 380 shares of the electronics maker’s stock worth $31,000 after purchasing an additional 200 shares in the last quarter. RMG Wealth Management LLC lifted its stake in shares of Corning by 125.0% during the third quarter. RMG Wealth Management LLC now owns 450 shares of the electronics maker’s stock worth $38,000 after purchasing an additional 250 shares in the last quarter. Bayforest Capital Ltd acquired a new position in shares of Corning during the third quarter worth about $39,000. Steigerwald Gordon & Koch Inc. acquired a new position in shares of Corning in the third quarter worth about $42,000. Finally, REAP Financial Group LLC raised its stake in Corning by 191.5% during the second quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock valued at $27,000 after buying an additional 339 shares in the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on GLW. UBS Group raised their price objective on Corning from $91.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Mizuho set a $97.00 price objective on shares of Corning in a research report on Wednesday, October 29th. Citigroup raised their target price on shares of Corning from $93.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Morgan Stanley set a $82.00 price target on shares of Corning in a report on Wednesday, October 29th. Finally, Argus raised their price objective on shares of Corning from $68.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Corning has an average rating of “Moderate Buy” and a consensus target price of $90.82.

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.