Strs Ohio Purchases 43,986 Shares of Corning Incorporated $GLW

Strs Ohio increased its position in shares of Corning Incorporated (NYSE:GLW) by 7.4% in the second quarter, Holdings Channel reports. The institutional investor owned 638,537 shares of the electronics maker’s stock after buying an additional 43,986 shares during the period. Strs Ohio’s holdings in Corning were worth $33,581,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of GLW. Forte Capital LLC ADV boosted its holdings in shares of Corning by 2.4% in the 2nd quarter. Forte Capital LLC ADV now owns 7,973 shares of the electronics maker’s stock valued at $419,000 after buying an additional 190 shares during the last quarter. Smith Salley Wealth Management boosted its holdings in shares of Corning by 3.3% in the 2nd quarter. Smith Salley Wealth Management now owns 6,280 shares of the electronics maker’s stock valued at $330,000 after buying an additional 200 shares during the last quarter. Leigh Baldwin & CO. LLC boosted its holdings in shares of Corning by 1.7% in the 1st quarter. Leigh Baldwin & CO. LLC now owns 12,513 shares of the electronics maker’s stock valued at $573,000 after buying an additional 210 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Corning by 1.3% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 16,623 shares of the electronics maker’s stock valued at $874,000 after buying an additional 214 shares during the last quarter. Finally, Old North State Wealth Management LLC boosted its holdings in shares of Corning by 0.5% in the 2nd quarter. Old North State Wealth Management LLC now owns 40,325 shares of the electronics maker’s stock valued at $2,121,000 after buying an additional 218 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Corning news, SVP Jaymin Amin sold 17,721 shares of Corning stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $77.18, for a total value of $1,367,706.78. Following the completion of the transaction, the senior vice president directly owned 88,722 shares of the company’s stock, valued at $6,847,563.96. The trade was a 16.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $5,352,294.57. Following the transaction, the chief executive officer directly owned 809,295 shares of the company’s stock, valued at $52,757,941.05. This trade represents a 9.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 211,924 shares of company stock valued at $16,841,489 over the last 90 days. 0.40% of the stock is currently owned by insiders.

Corning Stock Up 0.0%

GLW stock opened at $90.30 on Friday. 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 stock has a market capitalization of $77.35 billion, a price-to-earnings ratio of 57.15, a PEG ratio of 1.99 and a beta of 1.14. The business’s fifty day moving average price is $79.30 and its two-hundred day moving average price is $61.52. Corning Incorporated has a fifty-two week low of $37.31 and a fifty-two week high of $91.93.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share 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 analysts’ expectations of $4.24 billion. Corning had a return on equity of 18.12% and a net margin of 9.16%.The company’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.54 EPS. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. On average, equities analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 14th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.12 annualized dividend and a yield of 1.2%. Corning’s payout ratio is currently 70.89%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GLW. UBS Group increased their price objective on Corning from $91.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday. Barclays increased their price objective on Corning from $65.00 to $83.00 and gave the company an “equal weight” rating in a report on Wednesday. Citigroup increased their price objective on Corning from $93.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday. Oppenheimer set a $100.00 target price on Corning and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Susquehanna lifted their target price on Corning from $75.00 to $100.00 and gave the stock a “positive” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $90.82.

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.