State of New Jersey Common Pension Fund D Sells 2,398 Shares of Corning Incorporated $GLW

State of New Jersey Common Pension Fund D decreased its position in Corning Incorporated (NYSE:GLW) by 0.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 268,949 shares of the electronics maker’s stock after selling 2,398 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Corning were worth $14,144,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. REAP Financial Group LLC lifted its position in Corning by 191.5% in the 2nd quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock worth $27,000 after buying an additional 339 shares during the last quarter. Investment Management Corp VA ADV lifted its position in Corning by 165.9% in the 1st quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker’s stock worth $34,000 after buying an additional 463 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its position in Corning by 90.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker’s stock worth $34,000 after buying an additional 353 shares during the last quarter. Banque Transatlantique SA bought a new stake in Corning in the 1st quarter worth approximately $34,000. Finally, Resources Management Corp CT ADV lifted its position in Corning by 66.7% in the 1st quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker’s stock worth $34,000 after buying an additional 300 shares during the last quarter. Institutional investors own 69.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on GLW shares. Argus restated a “buy” rating and issued a $68.00 target price on shares of Corning in a research report on Wednesday, July 30th. Barclays boosted their price objective on Corning from $52.00 to $65.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 30th. Citigroup boosted their price objective on Corning from $72.00 to $93.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. JPMorgan Chase & Co. boosted their price objective on Corning from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, July 25th. Finally, Susquehanna reiterated a “positive” rating and issued a $75.00 price objective (up previously from $60.00) on shares of Corning 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 given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Insider Activity at Corning

In related news, 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 value of $927,854.44. Following the sale, the senior vice president directly owned 35,743 shares of the company’s stock, valued at $2,228,933.48. This represents a 29.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Lewis A. Steverson sold 16,646 shares of the company’s stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $62.22, for a total value of $1,035,714.12. Following the completion of the sale, the executive vice president directly owned 39,759 shares in the company, valued at approximately $2,473,804.98. The trade was a 29.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 181,671 shares of company stock valued at $11,816,899 over the last 90 days. Company insiders own 0.40% of the company’s stock.

Corning Price Performance

Shares of Corning stock opened at $87.46 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.50 and a debt-to-equity ratio of 0.58. The company has a market cap of $74.92 billion, a PE ratio of 93.04, a P/E/G ratio of 1.95 and a beta of 1.14. The business has a 50 day moving average of $77.36 and a 200 day moving average of $60.22. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $87.78.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 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 the consensus estimate of $3.84 billion. Corning had a return on equity of 17.27% and a net margin of 5.77%.During the same quarter in the prior year, the company earned $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 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 firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 14th will be issued 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%.

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.