Corning Incorporated $GLW Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp decreased its position in Corning Incorporated (NYSE:GLW) by 5.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 357,965 shares of the electronics maker’s stock after selling 20,818 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Corning were worth $18,825,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of GLW. Amundi raised its holdings in shares of Corning by 64.3% in the 1st quarter. Amundi now owns 6,408,605 shares of the electronics maker’s stock valued at $271,237,000 after buying an additional 2,507,797 shares during the period. Invesco Ltd. grew its position in Corning by 4.8% in the 1st quarter. Invesco Ltd. now owns 6,337,063 shares of the electronics maker’s stock valued at $290,111,000 after acquiring an additional 288,328 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Corning by 10.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,844,174 shares of the electronics maker’s stock worth $267,546,000 after purchasing an additional 558,184 shares during the period. Deutsche Bank AG lifted its position in shares of Corning by 37.1% during the first quarter. Deutsche Bank AG now owns 3,835,799 shares of the electronics maker’s stock worth $175,603,000 after purchasing an additional 1,037,875 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of Corning in the first quarter valued at approximately $104,789,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GLW shares. Susquehanna upped their target price on shares of Corning from $75.00 to $100.00 and gave the stock a “positive” rating in a research note on Wednesday, October 29th. Mizuho set a $97.00 price objective on Corning in a research report on Wednesday, October 29th. Barclays increased their price objective on Corning from $65.00 to $83.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 29th. Wall Street Zen cut Corning from a “strong-buy” rating to a “hold” rating in a research note on Saturday, September 13th. Finally, JPMorgan Chase & Co. increased their price target on Corning from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $90.82.

Insider Buying and Selling

In related news, insider Eric S. Musser sold 100,000 shares of the stock in a transaction on 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 transaction, the insider directly owned 44,926 shares of the company’s stock, valued at $4,050,977.42. This trade represents a 69.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Jaymin Amin sold 17,721 shares of Corning stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $77.18, for a total transaction of $1,367,706.78. Following the sale, the senior vice president owned 88,722 shares in the company, valued at $6,847,563.96. This represents a 16.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 173,856 shares of company stock valued at $15,456,476 over the last three months. 0.32% of the stock is currently owned by insiders.

Corning Stock Performance

NYSE:GLW opened at $81.83 on Friday. Corning Incorporated has a 12 month low of $37.31 and a 12 month high of $92.57. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.56 and a quick ratio of 0.93. The firm has a market capitalization of $70.16 billion, a PE ratio of 51.79, a price-to-earnings-growth ratio of 1.99 and a beta of 1.15. The business’s fifty day moving average price is $83.36 and its 200 day moving average price is $64.90.

Corning (NYSE:GLW) last announced its quarterly earnings results 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 return on equity of 18.12% and a net margin of 9.16%.The company had revenue of $4.10 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. Corning’s revenue for the quarter was up 20.9% on a year-over-year basis. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. On average, sell-side analysts anticipate 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. Investors of record on Friday, November 14th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, November 14th. Corning’s dividend payout ratio is 70.89%.

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.