Corning Incorporated $GLW Shares Purchased by Callan Family Office LLC

Callan Family Office LLC increased its holdings in shares of Corning Incorporated (NYSE:GLW) by 71.7% during the second quarter, HoldingsChannel.com reports. The fund owned 25,970 shares of the electronics maker’s stock after buying an additional 10,847 shares during the period. Callan Family Office LLC’s holdings in Corning were worth $1,366,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Davis Investment Partners LLC purchased a new position in Corning during the second quarter worth about $251,000. Central Pacific Bank Trust Division raised its stake in 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 purchasing an additional 13,920 shares during the period. Strs Ohio purchased a new position in Corning during the first quarter worth about $27,219,000. Acadian Asset Management LLC raised its stake in 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 purchasing an additional 150,521 shares during the period. Finally, Intech Investment Management LLC raised its stake in Corning by 507.6% during the first quarter. Intech Investment Management LLC now owns 211,124 shares of the electronics maker’s stock worth $9,665,000 after purchasing an additional 176,379 shares during the period. 69.80% of the stock is owned by hedge funds and other institutional investors.

Corning Trading Down 4.8%

Shares of GLW stock opened at $83.00 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.50. The stock has a market capitalization of $71.10 billion, a P/E ratio of 88.30, a price-to-earnings-growth ratio of 1.85 and a beta of 1.14. The company has a 50 day moving average price of $73.19 and a 200 day moving average price of $57.32. Corning Incorporated has a fifty-two week low of $37.31 and a fifty-two week high of $87.78.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.84 billion. Corning had a net margin of 5.77% and a return on equity of 17.27%. During the same quarter in the previous year, the business posted $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Equities research analysts predict that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Friday, November 14th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.3%. Corning’s payout ratio is 119.15%.

Insider Transactions at Corning

In related news, EVP Lewis A. Steverson sold 16,646 shares of Corning stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $62.22, for a total value of $1,035,714.12. Following the completion of the transaction, the executive vice president owned 39,759 shares in the company, valued at approximately $2,473,804.98. The trade was a 29.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Avery H. Nelson III sold 36,240 shares of the business’s stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $62.26, for a total transaction of $2,256,302.40. Following the transaction, the chief operating officer owned 64,838 shares of the company’s stock, valued at $4,036,813.88. This trade represents a 35.85% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 181,671 shares of company stock valued at $11,816,899. 0.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

GLW has been the topic of a number of analyst reports. Wall Street Zen downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Saturday, September 13th. Wolfe Research initiated coverage on shares of Corning in a research note on Tuesday, July 8th. They issued an “outperform” rating on the stock. Morgan Stanley boosted their price target on shares of Corning from $56.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday. Oppenheimer reissued an “outperform” rating and issued a $72.00 price target (up from $55.00) on shares of Corning in a research note on Wednesday, July 30th. Finally, Mizuho boosted their price target on shares of Corning from $74.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $73.00.

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.