Tufton Capital Management Reduces Position in Corning Incorporated $GLW

Tufton Capital Management decreased its holdings in Corning Incorporated (NYSE:GLW) by 3.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 209,555 shares of the electronics maker’s stock after selling 8,353 shares during the quarter. Corning accounts for about 2.1% of Tufton Capital Management’s holdings, making the stock its 9th biggest position. Tufton Capital Management’s holdings in Corning were worth $11,020,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Davis Investment Partners LLC bought a new stake in Corning during the second quarter worth $251,000. Central Pacific Bank Trust Division increased its holdings in shares of Corning by 23.6% during the second quarter. Central Pacific Bank Trust Division now owns 72,982 shares of the electronics maker’s stock worth $3,838,000 after buying an additional 13,920 shares in the last quarter. Motley Fool Asset Management LLC increased its holdings in shares of Corning by 10.5% during the second quarter. Motley Fool Asset Management LLC now owns 44,037 shares of the electronics maker’s stock worth $2,316,000 after buying an additional 4,183 shares in the last quarter. Strs Ohio acquired a new position in shares of Corning during the first quarter worth $27,219,000. Finally, Acadian Asset Management LLC increased its holdings in shares of Corning by 4,346.5% during the first quarter. Acadian Asset Management LLC now owns 153,984 shares of the electronics maker’s stock worth $7,048,000 after buying an additional 150,521 shares in the last quarter. Institutional investors own 69.80% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Jaymin Amin sold 17,721 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president owned 88,722 shares of the company’s stock, valued at approximately $6,847,563.96. This trade represents a 16.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric S. Musser sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $90.17, for a total transaction of $9,017,000.00. Following the completion of the transaction, the insider directly owned 44,926 shares in the company, valued at approximately $4,050,977.42. The trade was a 69.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 255,959 shares of company stock worth $20,808,771 in the last 90 days. Company insiders own 0.40% of the company’s stock.

Corning Price Performance

GLW stock opened at $87.43 on Tuesday. The stock has a market capitalization of $74.89 billion, a PE ratio of 55.34, a price-to-earnings-growth ratio of 1.99 and a beta of 1.14. The company’s 50-day moving average is $80.18 and its 200-day moving average is $62.46. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.56 and a quick ratio of 0.93. Corning Incorporated has a 1 year low of $37.31 and a 1 year high of $92.57.

Corning (NYSE:GLW) last released its quarterly earnings data on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. Corning had a net margin of 9.16% and a return on equity of 18.12%. The company had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the prior year, the firm earned $0.54 EPS. The business’s 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 EPS for the current fiscal year.

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 14th will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.12 annualized dividend and a yield of 1.3%. Corning’s dividend payout ratio (DPR) is presently 70.89%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on GLW shares. Argus upped their price target on shares of Corning from $68.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Wolfe Research started coverage on shares of Corning in a report on Tuesday, July 8th. They set an “outperform” rating for the company. Morgan Stanley set a $82.00 price target on shares of Corning in a report on Wednesday, October 29th. Oppenheimer set a $100.00 price objective on Corning and gave the company an “outperform” rating in a report on Wednesday, October 29th. Finally, Barclays lifted their target price on Corning from $65.00 to $83.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $90.82.

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.