ST Germain D J Co. Inc. Decreases Position in Corning Incorporated $GLW

ST Germain D J Co. Inc. decreased its position in Corning Incorporated (NYSE:GLW) by 14.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 146,650 shares of the electronics maker’s stock after selling 23,840 shares during the period. ST Germain D J Co. Inc.’s holdings in Corning were worth $12,030,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in GLW. Brighton Jones LLC increased its holdings in Corning by 46.0% during the 4th quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock valued at $319,000 after acquiring an additional 2,114 shares in the last quarter. Retirement Planning Co of New England Inc. acquired a new stake in shares of Corning in the first quarter valued at approximately $729,000. Corient IA LLC purchased a new position in shares of Corning during the 1st quarter worth approximately $229,000. Brooklyn Investment Group increased its stake in shares of Corning by 49.2% during the 1st quarter. Brooklyn Investment Group now owns 2,695 shares of the electronics maker’s stock worth $123,000 after purchasing an additional 889 shares in the last quarter. Finally, Korea Investment CORP raised its position in shares of Corning by 0.6% during the 1st quarter. Korea Investment CORP now owns 593,403 shares of the electronics maker’s stock worth $27,166,000 after purchasing an additional 3,503 shares during the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. UBS Group reissued a “buy” rating and set a $109.00 price target (up previously from $100.00) on shares of Corning in a research report on Friday, November 21st. Zacks Research lowered Corning from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 21st. Oppenheimer set a $100.00 price objective on Corning and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a research note on Monday. Finally, 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. One equities research 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 company. Based on data from MarketBeat, Corning presently has a consensus rating of “Moderate Buy” and an average price target of $91.64.

Corning Stock Performance

NYSE GLW opened at $86.43 on Wednesday. The business’s 50-day moving average price is $85.88 and its 200 day moving average price is $71.03. The company has a current ratio of 1.56, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62. Corning Incorporated has a twelve month low of $37.31 and a twelve month high of $96.64. The company has a market capitalization of $74.10 billion, a PE ratio of 54.70, a price-to-earnings-growth ratio of 1.93 and a beta of 1.11.

Corning (NYSE:GLW) last posted 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. Corning had a return on equity of 18.12% and a net margin of 9.16%.The company had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the previous year, the business earned $0.54 EPS. The firm’s revenue was up 20.9% on a year-over-year basis. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. On average, research analysts predict that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 14th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.12 dividend on an annualized basis and a yield of 1.3%. Corning’s dividend payout ratio (DPR) is currently 70.89%.

Insider Activity at Corning

In related news, SVP Stefan Becker sold 12,100 shares of Corning stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $91.28, for a total value of $1,104,488.00. Following the transaction, the senior vice president owned 5,049 shares in the company, valued at approximately $460,872.72. This trade represents a 70.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lewis A. Steverson sold 23,142 shares of the business’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $89.05, for a total value of $2,060,795.10. Following the sale, the executive vice president directly owned 17,575 shares of the company’s stock, valued at approximately $1,565,053.75. This trade represents a 56.84% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 156,135 shares of company stock worth $14,088,769. Company insiders own 0.32% of the company’s stock.

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.