Sicart Associates LLC Sells 67,429 Shares of Corning Incorporated $GLW

Sicart Associates LLC cut its holdings in Corning Incorporated (NYSE:GLW) by 63.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,910 shares of the electronics maker’s stock after selling 67,429 shares during the period. Sicart Associates LLC’s holdings in Corning were worth $2,046,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of GLW. Amundi grew its holdings in shares of Corning by 64.3% in the first quarter. Amundi now owns 6,408,605 shares of the electronics maker’s stock valued at $271,237,000 after acquiring an additional 2,507,797 shares in the last quarter. Nuveen LLC bought a new position in shares of Corning in the first quarter valued at approximately $104,789,000. Kingstone Capital Partners Texas LLC bought a new position in shares of Corning in the second quarter valued at approximately $92,560,000. Assenagon Asset Management S.A. grew its holdings in shares of Corning by 101.0% in the first quarter. Assenagon Asset Management S.A. now owns 2,951,938 shares of the electronics maker’s stock valued at $135,140,000 after acquiring an additional 1,483,151 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Corning by 3,441.4% in the first quarter. SG Americas Securities LLC now owns 1,190,359 shares of the electronics maker’s stock valued at $54,495,000 after acquiring an additional 1,156,746 shares in the last quarter. 69.80% of the stock is owned by institutional investors.

Analyst Ratings Changes

GLW has been the topic of several research analyst reports. JPMorgan Chase & Co. upped their price objective on Corning from $62.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. Oppenheimer reiterated an “outperform” rating and issued a $72.00 price objective (up previously from $55.00) on shares of Corning in a research note on Wednesday, July 30th. Wall Street Zen downgraded Corning from a “strong-buy” rating to a “hold” rating in a research note on Saturday, September 13th. Barclays upped their price objective on Corning from $52.00 to $65.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 30th. Finally, Citigroup upped their price objective on Corning from $72.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.08.

Insider Transactions at Corning

In other news, CEO Wendell P. Weeks sold 82,103 shares of the company’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $65.19, for a total value of $5,352,294.57. Following the transaction, the chief executive officer owned 809,295 shares of the company’s stock, valued at approximately $52,757,941.05. This represents a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Michael Paul O’day sold 14,879 shares of the company’s stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $62.36, for a total transaction of $927,854.44. Following the completion of the transaction, the senior vice president directly owned 35,743 shares in the company, valued at approximately $2,228,933.48. The trade was a 29.39% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 181,671 shares of company stock valued at $11,816,899. Corporate insiders own 0.32% of the company’s stock.

Corning Trading Up 2.3%

Shares of GLW stock opened at $82.13 on Wednesday. The company’s fifty day simple moving average is $69.09 and its two-hundred day simple moving average is $55.23. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.50 and a quick ratio of 0.93. Corning Incorporated has a 1 year low of $37.31 and a 1 year high of $82.21. The stock has a market capitalization of $70.35 billion, a price-to-earnings ratio of 87.37, a PEG ratio of 1.79 and a beta of 1.09.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. Corning had a net margin of 5.77% and a return on equity of 17.27%. The business had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.84 billion. During the same quarter in the previous year, the firm posted $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. As a group, analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current year.

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.