Illinois Municipal Retirement Fund Reduces Stock Holdings in Corning Incorporated $GLW

Illinois Municipal Retirement Fund lessened its stake in shares of Corning Incorporated (NYSE:GLW) by 9.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 333,165 shares of the electronics maker’s stock after selling 35,729 shares during the period. Illinois Municipal Retirement Fund’s holdings in Corning were worth $17,521,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. REAP Financial Group LLC raised 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 acquiring an additional 339 shares during the period. Investment Management Corp VA ADV grew its holdings in Corning by 165.9% during the 1st quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 463 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its position in Corning by 90.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 353 shares during the period. Banque Transatlantique SA bought a new stake in Corning in the first quarter worth about $34,000. Finally, Resources Management Corp CT ADV boosted its position in shares of Corning by 66.7% during the first quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker’s stock valued at $34,000 after buying an additional 300 shares during the period. 69.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on GLW shares. UBS Group raised their price target on Corning from $91.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Wall Street Zen downgraded Corning from a “strong-buy” rating to a “hold” rating in a research report on Saturday, September 13th. Susquehanna upped their price target on shares of Corning from $75.00 to $100.00 and gave the stock a “positive” rating in a report on Wednesday, October 29th. JPMorgan Chase & Co. raised their price target on shares of Corning from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Finally, Citigroup boosted their price objective on shares of Corning from $93.00 to $99.00 and gave the company a “buy” 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 two have given a Hold rating to the stock. According to data from MarketBeat.com, Corning currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.82.

Corning Price Performance

Shares of GLW stock opened at $85.40 on Monday. The stock’s 50-day moving average is $81.68 and its 200 day moving average is $63.71. Corning Incorporated has a 1-year low of $37.31 and a 1-year 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 company has a market cap of $73.22 billion, a P/E ratio of 54.05, a PEG ratio of 1.99 and a beta of 1.15.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, October 28th. The electronics maker reported $0.67 EPS for the quarter, beating the consensus estimate of $0.66 by $0.01. The business had revenue of $4.27 billion during the quarter, compared to analyst estimates of $4.24 billion. Corning had a net margin of 9.16% and a return on equity of 18.12%. The company’s quarterly revenue was up 20.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.54 earnings per share. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. Research analysts predict that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 14th will be given 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 dividend yield of 1.3%. Corning’s dividend payout ratio is presently 70.89%.

Insider Activity

In other news, CFO Edward A. Schlesinger sold 20,893 shares of the firm’s stock in a transaction on Friday, October 31st. The stock was 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eric S. Musser sold 100,000 shares of the business’s stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $90.17, for a total value of $9,017,000.00. Following the transaction, the insider owned 44,926 shares in the company, valued at approximately $4,050,977.42. This trade represents a 69.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 173,856 shares of company stock worth $15,456,476. Company insiders own 0.40% of the company’s stock.

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.