Kercheville Advisors LLC Sells 3,895 Shares of Corning Incorporated $GLW

Kercheville Advisors LLC lessened its position in shares of Corning Incorporated (NYSE:GLW) by 55.2% during the third quarter, HoldingsChannel.com reports. The fund owned 3,160 shares of the electronics maker’s stock after selling 3,895 shares during the period. Kercheville Advisors LLC’s holdings in Corning were worth $486,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Greg Jennings LLC bought a new stake in Corning in the 3rd quarter worth $2,959,000. Capital Square LLC purchased a new stake in shares of Corning during the third quarter worth about $243,000. Herold Advisors Inc. boosted its holdings in shares of Corning by 1.1% during the third quarter. Herold Advisors Inc. now owns 11,540 shares of the electronics maker’s stock worth $1,774,000 after purchasing an additional 125 shares during the period. Kaufman Rossin Wealth LLC grew its stake in shares of Corning by 6.0% in the third quarter. Kaufman Rossin Wealth LLC now owns 2,526 shares of the electronics maker’s stock worth $388,000 after purchasing an additional 144 shares during the last quarter. Finally, Cottage Street Advisors LLC grew its stake in shares of Corning by 6.1% in the third quarter. Cottage Street Advisors LLC now owns 9,807 shares of the electronics maker’s stock worth $1,508,000 after purchasing an additional 567 shares during the last quarter. Institutional investors own 69.80% of the company’s stock.

Insider Buying and Selling at Corning

In other Corning news, EVP Lewis Steverson sold 13,100 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $151.29, for a total transaction of $1,981,899.00. Following the transaction, the executive vice president owned 15,052 shares in the company, valued at approximately $2,277,217.08. This represents a 46.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Bank of America reduced their price target on Corning from $243.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, July 29th. Mizuho dropped their price objective on Corning from $210.00 to $180.00 and set an “outperform” rating for the company in a report on Tuesday, September 15th. JPMorgan Chase & Co. dropped their price objective on Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, July 29th. Citigroup cut their price objective on Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a research report on Wednesday, July 29th. Finally, Barclays reduced their target price on Corning from $180.00 to $129.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 29th. Thirteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $177.56.

Corning Trading Up 0.6%

Shares of GLW traded up $0.83 during trading hours on Monday, reaching $132.83. 6,864,080 shares of the company traded hands, compared to its average volume of 11,934,437. The company’s fifty day moving average price is $154.18 and its two-hundred day moving average price is $168.95. The company has a market capitalization of $114.42 billion, a price-to-earnings ratio of 60.65, a price-to-earnings-growth ratio of 1.68 and a beta of 1.13. The company has a quick ratio of 1.24, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. Corning Incorporated has a 12 month low of $77.39 and a 12 month high of $271.78.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.02. Corning had a net margin of 11.20% and a return on equity of 20.09%. The company had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.63 billion. During the same quarter in the previous year, the company earned $0.60 earnings per share. Corning’s quarterly revenue was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities research analysts predict that Corning Incorporated will post 3.28 earnings per share for the current fiscal year.

Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Friday, November 13th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, November 13th. Corning’s payout ratio is presently 51.14%.

Corning Company Profile

Corning Incorporated (NYSE: GLW) is a technology company that develops and manufactures specialty glass, ceramics and optical-fiber products. Its materials and engineering expertise support communications networks, consumer electronics, automotive systems, life sciences and other industrial applications.

The company’s products include optical fiber, cable and connectivity solutions used in telecommunications infrastructure; glass substrates for televisions, computer monitors and other displays; durable cover glass for mobile devices; emissions-control components for vehicles; laboratory glassware and consumables; and specialized glass and ceramic materials for scientific, industrial and semiconductor applications.

Founded in 1851 and headquartered in Corning, New York, the company serves customers through operations and facilities across North America, Europe, Asia and other international markets.