Francis Financial Inc. Cuts Stock Holdings in Corning Incorporated $GLW

Francis Financial Inc. reduced its position in Corning Incorporated (NYSE:GLW) by 7.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,037 shares of the electronics maker’s stock after selling 1,682 shares during the period. Francis Financial Inc.’s holdings in Corning were worth $1,106,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GLW. Parkside Financial Bank & Trust lifted its position in Corning by 3.1% during the second quarter. Parkside Financial Bank & Trust now owns 5,296 shares of the electronics maker’s stock valued at $278,000 after purchasing an additional 158 shares during the period. Zions Bancorporation National Association UT boosted its stake in shares of Corning by 3.3% in the 2nd quarter. Zions Bancorporation National Association UT now owns 5,746 shares of the electronics maker’s stock worth $302,000 after buying an additional 185 shares during the last quarter. Forte Capital LLC ADV increased its position in Corning by 2.4% during the second quarter. Forte Capital LLC ADV now owns 7,973 shares of the electronics maker’s stock valued at $419,000 after acquiring an additional 190 shares during the last quarter. Westside Investment Management Inc. lifted its holdings in Corning by 8.3% in the second quarter. Westside Investment Management Inc. now owns 2,565 shares of the electronics maker’s stock valued at $135,000 after acquiring an additional 197 shares during the period. Finally, Smith Salley Wealth Management boosted its position in Corning by 3.3% in the second quarter. Smith Salley Wealth Management now owns 6,280 shares of the electronics maker’s stock worth $330,000 after purchasing an additional 200 shares during the last quarter. 69.80% of the stock is owned by institutional investors.

Corning Trading Up 1.3%

GLW opened at $89.05 on Thursday. The firm has a market cap of $76.35 billion, a P/E ratio of 56.36, a P/E/G ratio of 1.99 and a beta of 1.15. Corning Incorporated has a 12 month low of $37.31 and a 12 month high of $92.57. The stock has a 50-day moving average of $82.90 and a 200 day moving average of $64.51. 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 announced its earnings results on Tuesday, October 28th. The electronics maker reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. Corning had a return on equity of 18.12% and a net margin of 9.16%.The firm had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the previous year, the business earned $0.54 EPS. The company’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. As a group, research analysts forecast that Corning Incorporated will post 2.33 EPS for the current year.

Corning Dividend Announcement

The company also recently disclosed 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. 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%.

Analysts Set New Price Targets

GLW has been the topic of a number of research reports. Citigroup raised their price objective on shares of Corning from $93.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Barclays upped their price objective on Corning from $65.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 29th. Wall Street Zen downgraded Corning from a “strong-buy” rating to a “hold” rating in a research report on Saturday, September 13th. Morgan Stanley set a $82.00 price objective on Corning in a research note on Wednesday, October 29th. Finally, Mizuho set a $97.00 price target on Corning in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.82.

Insider Buying and Selling at Corning

In other news, CFO Edward A. Schlesinger sold 20,893 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $91.25, for a total value of $1,906,486.25. Following the transaction, the chief financial officer directly owned 66,959 shares in the company, valued at approximately $6,110,008.75. This represents a 23.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Eric S. Musser sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $90.17, for a total transaction of $9,017,000.00. Following the transaction, the insider directly owned 44,926 shares in the company, valued at approximately $4,050,977.42. This trade represents a 69.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 173,856 shares of company stock valued at $15,456,476. 0.32% of the stock is owned by company insiders.

Corning 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.