Vestmark Advisory Solutions Inc. Sells 45,321 Shares of Corning Incorporated $GLW

Vestmark Advisory Solutions Inc. lowered its stake in shares of Corning Incorporated (NYSE:GLW) by 33.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 88,355 shares of the electronics maker’s stock after selling 45,321 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Corning were worth $4,647,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Brighton Jones LLC grew its position in shares of Corning by 46.0% in the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock valued at $319,000 after purchasing an additional 2,114 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Corning by 15.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,284,083 shares of the electronics maker’s stock worth $58,785,000 after purchasing an additional 172,821 shares during the period. Valeo Financial Advisors LLC boosted its stake in Corning by 5.5% in the 1st quarter. Valeo Financial Advisors LLC now owns 6,830 shares of the electronics maker’s stock worth $313,000 after purchasing an additional 353 shares during the period. Greenleaf Trust grew its holdings in Corning by 6.4% during the 1st quarter. Greenleaf Trust now owns 10,299 shares of the electronics maker’s stock valued at $471,000 after buying an additional 617 shares in the last quarter. Finally, Leavell Investment Management Inc. increased its position in shares of Corning by 10.2% during the first quarter. Leavell Investment Management Inc. now owns 12,880 shares of the electronics maker’s stock valued at $590,000 after buying an additional 1,191 shares during the period. 69.80% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on GLW. Weiss Ratings reiterated a “hold (c+)” rating on shares of Corning in a research note on Wednesday, October 8th. Citigroup upped their price target on shares of Corning from $93.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Oppenheimer set a $100.00 price objective on Corning and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Susquehanna raised their price target on Corning from $75.00 to $100.00 and gave the company a “positive” rating in a report on Wednesday, October 29th. Finally, Mizuho set a $97.00 price objective on Corning in a report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $90.82.

Insider Buying and Selling

In other Corning news, EVP Lewis A. Steverson sold 23,142 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $89.05, for a total transaction of $2,060,795.10. Following the completion of the transaction, the executive vice president owned 17,575 shares of the company’s stock, valued at $1,565,053.75. This represents a 56.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Edward A. Schlesinger sold 20,893 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief financial officer owned 66,959 shares of the company’s stock, valued at approximately $6,110,008.75. This represents a 23.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 173,856 shares of company stock valued at $15,456,476 over the last ninety days. Corporate insiders own 0.40% of the company’s stock.

Corning Trading Down 2.8%

Shares of GLW opened at $85.40 on Friday. Corning Incorporated has a fifty-two week low of $37.31 and a fifty-two week high of $92.57. The firm has a market cap of $73.22 billion, a price-to-earnings ratio of 54.05, a PEG ratio of 1.99 and a beta of 1.15. The firm has a 50 day moving average price of $81.68 and a 200-day moving average price of $63.42. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.93 and a current ratio of 1.56.

Corning (NYSE:GLW) last released its earnings results on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. The company had revenue of $4.27 billion during the quarter, compared to analyst estimates of $4.24 billion. Corning had a return on equity of 18.12% and a net margin of 9.16%.Corning’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.54 EPS. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. As a group, equities research analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Dividend Announcement

The company also recently disclosed 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 annualized dividend 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%.

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.