Financial Advocates Investment Management Sells 1,611 Shares of Corning Incorporated $GLW

Financial Advocates Investment Management lowered its position in Corning Incorporated (NYSE:GLW) by 29.3% in the second quarter, Holdings Channel.com reports. The fund owned 3,896 shares of the electronics maker’s stock after selling 1,611 shares during the period. Financial Advocates Investment Management’s holdings in Corning were worth $205,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Parkside Financial Bank & Trust raised its stake in shares of Corning by 3.1% in 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 in the last quarter. Empirical Finance LLC increased its holdings in Corning by 0.7% in the 2nd quarter. Empirical Finance LLC now owns 27,043 shares of the electronics maker’s stock valued at $1,422,000 after buying an additional 184 shares during the period. Zions Bancorporation National Association UT raised 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 valued at $302,000 after buying an additional 185 shares in the last quarter. Forte Capital LLC ADV lifted its holdings in shares of Corning by 2.4% during the 2nd quarter. Forte Capital LLC ADV now owns 7,973 shares of the electronics maker’s stock worth $419,000 after acquiring an additional 190 shares during the period. Finally, Westside Investment Management Inc. boosted its position in shares of Corning by 8.3% during the 2nd 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 in the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on GLW. Mizuho set a $97.00 price target on shares of Corning in a research report on Wednesday, October 29th. Barclays increased 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. JPMorgan Chase & Co. boosted their price target on Corning from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. UBS Group reiterated a “buy” rating and issued a $109.00 price target (up from $100.00) on shares of Corning in a research report on Friday, November 21st. Finally, Wall Street Zen cut Corning from a “strong-buy” rating to a “hold” rating in a report on Saturday, September 13th. One investment 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $91.64.

Insider Transactions at Corning

In related news, CFO Edward A. Schlesinger sold 20,893 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer owned 66,959 shares of the company’s stock, valued at $6,110,008.75. This trade represents a 23.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Lewis A. Steverson sold 23,142 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $89.05, for a total transaction of $2,060,795.10. Following the completion of the transaction, the executive vice president owned 17,575 shares of the company’s stock, valued at $1,565,053.75. This trade represents a 56.84% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 173,856 shares of company stock worth $15,456,476. Corporate insiders own 0.40% of the company’s stock.

Corning Stock Up 0.7%

NYSE GLW opened at $84.16 on Friday. The stock’s 50 day simple moving average is $84.41 and its 200 day simple moving average is $67.43. Corning Incorporated has a one year low of $37.31 and a one year high of $92.57. The firm has a market cap of $72.15 billion, a PE ratio of 53.26, a price-to-earnings-growth ratio of 1.99 and a beta of 1.15. 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 (NYSE:GLW) last issued its quarterly earnings data on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.01. The firm had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.24 billion. Corning had a return on equity of 18.12% and a net margin of 9.16%.The business’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 EPS. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. As a group, sell-side analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 14th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.12 dividend on an annualized basis and a yield of 1.3%. Corning’s dividend payout ratio is currently 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.