Guggenheim Capital LLC Has $12.36 Million Stock Position in Corning Incorporated $GLW

Guggenheim Capital LLC cut its stake in shares of Corning Incorporated (NYSE:GLW) by 3.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 235,076 shares of the electronics maker’s stock after selling 8,184 shares during the quarter. Guggenheim Capital LLC’s holdings in Corning were worth $12,363,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of GLW. Vanguard Group Inc. boosted its stake in shares of Corning by 1.6% during the second quarter. Vanguard Group Inc. now owns 97,952,109 shares of the electronics maker’s stock valued at $5,151,301,000 after purchasing an additional 1,582,895 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Corning by 0.6% during the second quarter. Geode Capital Management LLC now owns 19,443,525 shares of the electronics maker’s stock worth $1,018,629,000 after purchasing an additional 112,739 shares during the period. Norges Bank acquired a new stake in Corning in the second quarter valued at $534,936,000. Amundi raised its position in Corning by 64.3% during the 1st quarter. Amundi now owns 6,408,605 shares of the electronics maker’s stock worth $271,237,000 after purchasing an additional 2,507,797 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of 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 buying an additional 288,328 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Eric S. Musser sold 100,000 shares of the stock in a transaction 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 completion of the transaction, the insider owned 44,926 shares in the company, valued at approximately $4,050,977.42. This represents a 69.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Edward A. Schlesinger sold 20,893 shares of the business’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 transaction of $1,906,486.25. Following the completion of the sale, the chief financial officer directly owned 66,959 shares in the company, valued at approximately $6,110,008.75. This trade represents a 23.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 173,856 shares of company stock worth $15,456,476. 0.40% of the stock is owned by insiders.

Corning Trading Up 2.4%

Shares of GLW stock opened at $85.57 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.56. The company has a market capitalization of $73.36 billion, a price-to-earnings ratio of 54.16, a PEG ratio of 1.83 and a beta of 1.11. Corning Incorporated has a 52-week low of $37.31 and a 52-week high of $92.57. The company has a 50-day simple moving average of $84.75 and a two-hundred day simple moving average of $68.44.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 EPS. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. Research analysts anticipate that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Announces Dividend

The business also recently announced 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. This represents a $1.12 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, November 14th. Corning’s payout ratio is presently 70.89%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on GLW shares. Morgan Stanley set a $82.00 price objective on Corning in a research note on Wednesday, October 29th. Argus boosted their price target on shares of Corning from $68.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Mizuho set a $97.00 price objective on shares of Corning in a research report on Wednesday, October 29th. Oppenheimer set a $100.00 target price on shares of Corning and gave the company an “outperform” rating in a report on Wednesday, October 29th. Finally, Barclays upped their price target on shares of Corning from $65.00 to $83.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $91.64.

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.