LRI Investments LLC Cuts Stake in Corning Incorporated $GLW

LRI Investments LLC decreased its holdings in Corning Incorporated (NYSE:GLW) by 2.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 17,334 shares of the electronics maker’s stock after selling 445 shares during the period. LRI Investments LLC’s holdings in Corning were worth $912,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. REAP Financial Group LLC raised its holdings in Corning by 191.5% in the second quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock valued at $27,000 after buying an additional 339 shares during the period. Investment Management Corp VA ADV boosted its holdings in Corning by 165.9% in the first quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 463 shares during the period. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in Corning by 90.1% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 353 shares during the period. Resources Management Corp CT ADV raised its stake in shares of Corning by 66.7% during the first quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 300 shares in the last quarter. Finally, Gen Wealth Partners Inc raised its stake in shares of Corning by 151.7% during the first quarter. Gen Wealth Partners Inc now owns 755 shares of the electronics maker’s stock valued at $35,000 after purchasing an additional 455 shares in the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Corning Stock Down 4.8%

GLW stock opened at $83.00 on Friday. Corning Incorporated has a twelve month low of $37.31 and a twelve month high of $87.78. The company has a market cap of $71.10 billion, a PE ratio of 88.30, a price-to-earnings-growth ratio of 1.85 and a beta of 1.14. The business’s 50-day simple moving average is $73.19 and its 200 day simple moving average is $57.25. The company has a quick ratio of 0.93, a current ratio of 1.50 and a debt-to-equity ratio of 0.58.

Corning (NYSE:GLW) last posted 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. 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 quarter in the previous year, the company posted $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. On average, research analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, November 14th. Corning’s dividend payout ratio is currently 119.15%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GLW. Weiss Ratings restated a “hold (c+)” rating on shares of Corning in a research note on Wednesday. Oppenheimer reaffirmed an “outperform” rating and set a $72.00 target price (up previously from $55.00) on shares of Corning in a research note on Wednesday, July 30th. UBS Group lifted their target price on Corning from $84.00 to $91.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. JPMorgan Chase & Co. raised their price target on shares of Corning from $62.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, July 25th. Finally, Barclays increased their target price on shares of Corning from $52.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 30th. 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’s stock. According to MarketBeat.com, Corning currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Insider Transactions at Corning

In other news, EVP Lewis A. Steverson sold 16,646 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $62.22, for a total transaction of $1,035,714.12. Following the transaction, the executive vice president directly owned 39,759 shares of the company’s stock, valued at approximately $2,473,804.98. This trade represents a 29.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael Paul O’day sold 14,879 shares of Corning stock in a transaction that occurred on Wednesday, July 30th. The shares were 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 $2,228,933.48. This trade represents a 29.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 181,671 shares of company stock worth $11,816,899. 0.40% of the stock is currently owned by insiders.

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.