Stonebridge Financial Group LLC Sells 540 Shares of Corning Incorporated $GLW

Stonebridge Financial Group LLC decreased its stake in shares of Corning Incorporated (NYSE:GLW) by 0.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 81,433 shares of the electronics maker’s stock after selling 540 shares during the period. Stonebridge Financial Group LLC’s holdings in Corning were worth $4,283,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Davis Investment Partners LLC bought a new stake in shares of Corning during the 2nd quarter worth about $251,000. Central Pacific Bank Trust Division raised its stake 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 acquired a new stake in Corning in the 1st quarter worth about $27,219,000. Acadian Asset Management LLC raised its stake 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 raised its stake 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. Institutional investors own 69.80% of the company’s stock.

Insider Buying and Selling at Corning

In related news, SVP Jaymin Amin sold 17,721 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $77.18, for a total transaction of $1,367,706.78. Following the completion of the transaction, the senior vice president directly owned 88,722 shares in the company, valued at $6,847,563.96. This represents a 16.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lewis A. Steverson sold 16,646 shares of the company’s stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $62.22, for a total transaction of $1,035,714.12. Following the transaction, the executive vice president owned 39,759 shares of the company’s stock, valued at approximately $2,473,804.98. This represents a 29.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 181,671 shares of company stock worth $11,816,899 over the last 90 days. 0.40% of the stock is owned by corporate insiders.

Corning Price Performance

Shares of NYSE:GLW opened at $87.24 on Friday. The firm has a 50 day moving average of $72.77 and a 200-day moving average of $56.94. The stock has a market capitalization of $74.73 billion, a PE ratio of 92.81, a PEG ratio of 1.94 and a beta of 1.14. The company has a current ratio of 1.50, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. Corning Incorporated has a 12 month low of $37.31 and a 12 month high of $87.75.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. The company had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.84 billion. Corning had a net margin of 5.77% and a return on equity of 17.27%. During the same period in the previous year, the company earned $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. On average, equities research analysts predict that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 14th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, November 14th. Corning’s dividend payout ratio is currently 119.15%.

Analyst Ratings Changes

Several brokerages have weighed in on GLW. Weiss Ratings reiterated a “hold (c+)” rating on shares of Corning in a research note on Wednesday. JPMorgan Chase & Co. lifted their price objective on shares of Corning from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, July 25th. Morgan Stanley set a $56.00 price objective on shares of Corning and gave the stock an “equal weight” rating in a research note on Wednesday, July 30th. Barclays lifted their price objective on shares of Corning from $52.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 30th. Finally, Citigroup lifted their price objective on shares of Corning from $72.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. One 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’s stock. Based on data from MarketBeat, Corning presently has an average rating of “Moderate Buy” and an average price target of $71.42.

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.