Korea Investment CORP Sells 101,254 Shares of Corning Incorporated $GLW

Korea Investment CORP cut its stake in Corning Incorporated (NYSE:GLW) by 17.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 492,149 shares of the electronics maker’s stock after selling 101,254 shares during the period. Korea Investment CORP owned about 0.06% of Corning worth $25,882,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Amundi grew its stake in Corning by 64.3% in the 1st quarter. Amundi now owns 6,408,605 shares of the electronics maker’s stock worth $271,237,000 after acquiring an additional 2,507,797 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Corning in the first quarter valued at approximately $104,789,000. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Corning in the second quarter valued at approximately $92,560,000. Vanguard Group Inc. grew its stake in Corning by 1.6% in the second quarter. Vanguard Group Inc. now owns 97,952,109 shares of the electronics maker’s stock worth $5,151,301,000 after purchasing an additional 1,582,895 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in Corning by 185.7% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,801,411 shares of the electronics maker’s stock worth $94,736,000 after purchasing an additional 1,170,992 shares during the period. Institutional investors own 69.80% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Stefan Becker sold 12,100 shares of the business’s stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $91.28, for a total transaction of $1,104,488.00. Following the transaction, the senior vice president directly owned 5,049 shares in the company, valued at $460,872.72. The trade was a 70.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Edward A. Schlesinger sold 20,893 shares of the stock in a transaction dated 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 completion of the sale, the chief financial officer owned 66,959 shares of the company’s stock, valued at approximately $6,110,008.75. This trade represents a 23.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 173,856 shares of company stock valued at $15,456,476. 0.40% of the stock is currently owned by company insiders.

Corning Price Performance

GLW opened at $84.16 on Friday. The firm has a market capitalization of $72.15 billion, a PE ratio of 53.26, a price-to-earnings-growth ratio of 1.99 and a beta of 1.15. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.56 and a quick ratio of 0.93. The business’s 50-day moving average is $84.41 and its two-hundred day moving average is $67.43. Corning Incorporated has a 1 year low of $37.31 and a 1 year high of $92.57.

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

Corning Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. UBS Group reiterated a “buy” rating and issued a $109.00 target price (up from $100.00) on shares of Corning in a report on Friday, November 21st. Argus lifted their price objective on Corning from $68.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Wall Street Zen cut shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Saturday, September 13th. Morgan Stanley set a $82.00 target price on shares of Corning in a research report on Wednesday, October 29th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corning in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Corning presently has a consensus rating of “Moderate Buy” and an average target price of $91.64.

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.