35,315 Shares in Corning Incorporated $GLW Bought by Great Lakes Retirement Inc.

Great Lakes Retirement Inc. purchased a new position in shares of Corning Incorporated (NYSE:GLW) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 35,315 shares of the electronics maker’s stock, valued at approximately $1,857,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. REAP Financial Group LLC raised 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 acquiring an additional 339 shares in the last quarter. Investment Management Corp VA ADV raised 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 acquiring an additional 463 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC raised 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 acquiring an additional 353 shares in the last quarter. Banque Transatlantique SA acquired a new stake in Corning during the 1st quarter worth $34,000. Finally, Resources Management Corp CT ADV raised 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 acquiring an additional 300 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Corning

In other Corning news, insider Eric S. Musser sold 100,000 shares of the company’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $90.17, for a total value of $9,017,000.00. Following the sale, the insider owned 44,926 shares of the company’s stock, valued at $4,050,977.42. This represents a 69.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Stefan Becker sold 12,100 shares of the company’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $91.28, for a total transaction of $1,104,488.00. Following the completion of the sale, the senior vice president directly owned 5,049 shares in the company, valued at $460,872.72. This trade represents a 70.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 211,924 shares of company stock worth $16,841,489 over the last ninety days. 0.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

GLW has been the topic of a number of recent research reports. Weiss Ratings restated a “hold (c+)” rating on shares of Corning in a research note on Wednesday, October 8th. Oppenheimer set a $100.00 price objective on shares of Corning and gave the company an “outperform” rating in a research note on Wednesday. Morgan Stanley set a $82.00 price objective on shares of Corning in a research note on Wednesday. Citigroup lifted their price objective on shares of Corning from $93.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Barclays lifted their price objective on shares of Corning from $65.00 to $83.00 and gave the company an “equal weight” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.82.

Corning Stock Down 1.3%

GLW stock opened at $89.07 on Friday. The company has a market cap of $76.30 billion, a P/E ratio of 56.37, a P/E/G ratio of 1.99 and a beta of 1.14. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $92.57. The company’s 50-day moving average price is $79.77 and its 200 day moving average price is $61.85. The company has a current ratio of 1.56, a quick ratio of 0.93 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last released its quarterly earnings data on Tuesday, October 28th. The electronics maker reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The firm had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $4.24 billion. Corning had a net margin of 9.16% and a return on equity of 18.12%. The firm’s revenue was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.54 earnings per share. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. On average, research analysts expect that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders 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 dividend payout ratio is 70.89%.

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.