Concurrent Investment Advisors LLC Sells 20,820 Shares of Corning Incorporated $GLW

Concurrent Investment Advisors LLC trimmed its stake in Corning Incorporated (NYSE:GLW) by 59.5% in the second quarter, Holdings Channel reports. The firm owned 14,200 shares of the electronics maker’s stock after selling 20,820 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Corning were worth $747,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. REAP Financial Group LLC grew its stake in shares of Corning by 191.5% in the second quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock valued at $27,000 after buying an additional 339 shares in the last quarter. Investment Management Corp VA ADV lifted its stake in Corning by 165.9% in the first quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker’s stock valued at $34,000 after acquiring an additional 463 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its position in shares of Corning by 90.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker’s stock valued at $34,000 after acquiring an additional 353 shares during the period. Banque Transatlantique SA acquired a new position in shares of Corning during the 1st quarter worth about $34,000. Finally, Resources Management Corp CT ADV raised its holdings in shares of Corning by 66.7% in the 1st quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 300 shares during the period. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Stock Up 0.2%

GLW opened at $86.81 on Friday. 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 fifty day moving average of $74.96 and a 200-day moving average of $58.27. Corning Incorporated has a fifty-two week low of $37.31 and a fifty-two week high of $87.78. The company has a market capitalization of $74.36 billion, a P/E ratio of 92.35, a P/E/G ratio of 1.93 and a beta of 1.14.

Corning (NYSE:GLW) last issued its quarterly earnings data on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. The business 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 company earned $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. On average, equities analysts expect that Corning Incorporated will post 2.33 EPS for the current year.

Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 14th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, November 14th. Corning’s payout ratio is 119.15%.

Insider Buying and Selling at Corning

In related news, CEO Wendell P. Weeks sold 82,103 shares of the firm’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $65.19, for a total value of $5,352,294.57. Following the transaction, the chief executive officer owned 809,295 shares in the company, valued at approximately $52,757,941.05. This trade represents a 9.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jaymin Amin sold 17,721 shares of the business’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $77.18, for a total value of $1,367,706.78. Following the completion of the transaction, the senior vice president directly owned 88,722 shares of the company’s stock, valued at approximately $6,847,563.96. This trade represents a 16.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 181,671 shares of company stock valued at $11,816,899 over the last ninety days. 0.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

GLW has been the topic of a number of recent analyst reports. Oppenheimer reissued an “outperform” rating and set a $72.00 price target (up previously from $55.00) on shares of Corning in a research report on Wednesday, July 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of Corning in a report on Wednesday, October 8th. Mizuho raised their price target on Corning from $74.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, October 3rd. UBS Group upped their price objective on shares of Corning from $84.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. Finally, Citigroup raised their target price on shares of Corning from $72.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.