CORDA Investment Management LLC. Sells 217 Shares of Corning Incorporated $GLW

CORDA Investment Management LLC. trimmed its stake in shares of Corning Incorporated (NYSE:GLW) by 0.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 564,138 shares of the electronics maker’s stock after selling 217 shares during the quarter. Corning accounts for about 2.2% of CORDA Investment Management LLC.’s holdings, making the stock its 23rd largest position. CORDA Investment Management LLC.’s holdings in Corning were worth $29,668,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GLW. Brighton Jones LLC raised its stake in shares of Corning by 46.0% during the 4th 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 during the period. GAMMA Investing LLC raised its stake in shares of Corning by 29.2% during the 1st quarter. GAMMA Investing LLC now owns 11,358 shares of the electronics maker’s stock valued at $520,000 after purchasing an additional 2,567 shares during the period. ORG Partners LLC increased its stake in Corning by 115.8% in the 1st quarter. ORG Partners LLC now owns 887 shares of the electronics maker’s stock worth $40,000 after acquiring an additional 476 shares during the last quarter. Stonegate Investment Group LLC increased its stake in Corning by 33.6% in the 1st quarter. Stonegate Investment Group LLC now owns 5,840 shares of the electronics maker’s stock worth $267,000 after acquiring an additional 1,469 shares during the last quarter. Finally, JFS Wealth Advisors LLC increased its stake in Corning by 66.4% in the 1st quarter. JFS Wealth Advisors LLC now owns 1,348 shares of the electronics maker’s stock worth $62,000 after acquiring an additional 538 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors.

Corning Price Performance

Shares of Corning stock opened at $84.49 on Monday. The company has a current ratio of 1.50, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $72.38 billion, a PE ratio of 89.88, a price-to-earnings-growth ratio of 1.89 and a beta of 1.14. The business’s 50-day moving average price is $75.33 and its 200-day moving average price is $58.73. Corning Incorporated has a 12 month low of $37.31 and a 12 month high of $87.78.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. Corning had a return on equity of 17.27% and a net margin of 5.77%.The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.84 billion. During the same period in the prior year, the company earned $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Sell-side analysts forecast that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 14th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, November 14th. Corning’s payout ratio is 119.15%.

Analyst Upgrades and Downgrades

GLW has been the topic of a number of research analyst reports. Citigroup upped their target price on Corning from $72.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Wolfe Research initiated coverage on Corning in a research note on Tuesday, July 8th. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. upped their target price on Corning from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, July 25th. Wall Street Zen lowered Corning from a “strong-buy” rating to a “hold” rating in a research note on Saturday, September 13th. Finally, Morgan Stanley upped their target price on Corning from $56.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Corning has a consensus rating of “Moderate Buy” and an average price target of $73.00.

Insiders Place Their Bets

In other Corning news, SVP Michael Paul O’day sold 14,879 shares of Corning stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $62.36, for a total value of $927,854.44. Following the transaction, the senior vice president directly owned 35,743 shares of the company’s stock, valued at $2,228,933.48. The trade was a 29.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Avery H. Nelson III sold 36,240 shares of Corning stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $62.26, for a total value of $2,256,302.40. Following the completion of the transaction, the chief operating officer directly owned 64,838 shares in the company, valued at $4,036,813.88. This trade represents a 35.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 181,671 shares of company stock worth $11,816,899. 0.32% of the stock is currently owned by corporate 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.