Corning Incorporated $GLW Shares Sold by ELCO Management Co. LLC

ELCO Management Co. LLC trimmed its stake in shares of Corning Incorporated (NYSE:GLW) by 1.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,991 shares of the electronics maker’s stock after selling 250 shares during the quarter. ELCO Management Co. LLC’s holdings in Corning were worth $841,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. REAP Financial Group LLC grew its stake in Corning by 191.5% during the 2nd quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock worth $27,000 after purchasing an additional 339 shares in the last quarter. Investment Management Corp VA ADV grew its stake in Corning by 165.9% during the 1st 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 in the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its stake 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 worth $34,000 after purchasing an additional 353 shares in the last quarter. Resources Management Corp CT ADV grew its stake in Corning by 66.7% during the 1st quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 300 shares in the last quarter. Finally, Gen Wealth Partners Inc grew its stake in Corning by 151.7% during the 1st quarter. Gen Wealth Partners Inc now owns 755 shares of the electronics maker’s stock worth $35,000 after purchasing an additional 455 shares in the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.

Corning Stock Down 3.2%

Corning stock opened at $86.53 on Wednesday. Corning Incorporated has a fifty-two week low of $37.31 and a fifty-two week high of $89.77. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.50. The company has a market capitalization of $74.12 billion, a P/E ratio of 92.05, a PEG ratio of 2.00 and a beta of 1.14. The stock has a 50-day simple moving average of $78.28 and a 200-day simple moving average of $60.97.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.01. Corning had a return on equity of 17.27% and a net margin of 5.77%.The business had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same period in the previous year, the business earned $0.54 EPS. The business’s quarterly revenue was up 20.9% on a year-over-year basis. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. Equities research analysts expect that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Announces Dividend

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

Analyst Ratings Changes

Several research analysts recently commented on the company. Susquehanna reissued a “positive” rating and set a $75.00 target price (up from $60.00) on shares of Corning in a research note on Wednesday, July 30th. Wall Street Zen cut Corning from a “strong-buy” rating to a “hold” rating in a research note on Saturday, September 13th. Argus reaffirmed a “buy” rating and set a $68.00 price target on shares of Corning in a report on Wednesday, July 30th. Citigroup lifted their price target on Corning from $72.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Corning in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Corning currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.50.

Insider Activity

In other Corning news, CEO Wendell P. Weeks sold 82,103 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $65.19, for a total transaction of $5,352,294.57. Following the completion of the sale, the chief executive officer directly owned 809,295 shares of the company’s stock, valued at $52,757,941.05. This represents a 9.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jaymin Amin sold 17,721 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $77.18, for a total value of $1,367,706.78. Following the sale, the senior vice president directly owned 88,722 shares of the company’s stock, valued at approximately $6,847,563.96. This represents a 16.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.32% 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.