JFS Wealth Advisors LLC Trims Stock Position in Corning Incorporated $GLW

JFS Wealth Advisors LLC reduced its stake in shares of Corning Incorporated (NYSE:GLW) by 39.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 821 shares of the electronics maker’s stock after selling 527 shares during the quarter. JFS Wealth Advisors LLC’s holdings in Corning were worth $43,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. REAP Financial Group LLC increased its position in Corning by 191.5% during the 2nd quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock valued at $27,000 after purchasing an additional 339 shares during the period. Investment Management Corp VA ADV increased its position in Corning by 165.9% during the 1st quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 463 shares during the period. Annis Gardner Whiting Capital Advisors LLC increased its position in Corning by 90.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 353 shares during the period. Banque Transatlantique SA purchased a new position in Corning during the 1st quarter valued at $34,000. Finally, Resources Management Corp CT ADV increased its position in Corning by 66.7% during the 1st 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 during the period. 69.80% of the stock is owned by hedge funds and other institutional investors.

Corning Stock Down 4.8%

NYSE:GLW opened at $83.00 on Monday. The firm has a market cap of $71.10 billion, a P/E ratio of 88.30, a P/E/G ratio of 1.85 and a beta of 1.14. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.50. Corning Incorporated has a fifty-two week low of $37.31 and a fifty-two week high of $87.78. The firm has a 50-day simple moving average of $73.19 and a two-hundred day simple moving average of $57.32.

Corning (NYSE:GLW) last released its quarterly earnings data on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share 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 during the quarter, compared to analyst estimates of $3.84 billion. During the same period last year, the business earned $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Analysts predict that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 14th will be issued a $0.28 dividend. 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 payout ratio is presently 119.15%.

Wall Street Analyst Weigh In

GLW has been the topic of a number of research analyst reports. Morgan Stanley boosted their price objective on shares of Corning from $56.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday. Barclays upped 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. Wolfe Research began coverage on shares of Corning in a research report on Tuesday, July 8th. They issued an “outperform” rating on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Corning in a research report on Wednesday, October 8th. Finally, Argus reaffirmed a “buy” rating and issued a $68.00 target price on shares of Corning in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $73.00.

Insider Buying and Selling

In other Corning news, SVP Michael Paul O’day sold 14,879 shares of the company’s stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $62.36, for a total transaction of $927,854.44. Following the transaction, the senior vice president owned 35,743 shares in the company, valued at approximately $2,228,933.48. This represents a 29.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Wendell P. Weeks sold 82,103 shares of the company’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $65.19, for a total transaction of $5,352,294.57. Following the transaction, the chief executive officer owned 809,295 shares in the company, valued at $52,757,941.05. This represents a 9.21% decrease in their position. 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 currently owned by company insiders.

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.