Patton Fund Management Inc. Decreases Holdings in Corning Incorporated $GLW

Patton Fund Management Inc. reduced its holdings in shares of Corning Incorporated (NYSE:GLW) by 25.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 46,035 shares of the electronics maker’s stock after selling 15,392 shares during the quarter. Patton Fund Management Inc.’s holdings in Corning were worth $3,776,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in GLW. REAP Financial Group LLC boosted its holdings in 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 purchasing an additional 339 shares in the last quarter. Total Investment Management Inc. purchased a new stake in shares of Corning during the 2nd quarter worth approximately $28,000. Banque Transatlantique SA acquired a new position in shares of Corning in the 1st quarter valued at $34,000. Resources Management Corp CT ADV boosted 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 buying an additional 300 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in Corning during the 2nd quarter worth $36,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Stock Performance

NYSE GLW opened at $88.51 on Tuesday. The firm has a market cap of $75.89 billion, a P/E ratio of 56.02, a P/E/G ratio of 1.92 and a beta of 1.11. Corning Incorporated has a 52-week low of $37.31 and a 52-week high of $96.64. The business’s 50-day moving average price is $86.00 and its 200 day moving average price is $72.06. The company has a quick ratio of 1.00, a current ratio of 1.56 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last posted its quarterly earnings data 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 firm had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same period in the prior year, the business earned $0.54 EPS. The firm’s revenue was up 20.9% compared to the same quarter last year. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. On average, equities research analysts expect that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Announces Dividend

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

Insider Activity

In other news, insider Eric S. Musser sold 100,000 shares of Corning stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $90.17, for a total value of $9,017,000.00. Following the sale, the insider owned 44,926 shares of the company’s stock, valued at $4,050,977.42. The trade was a 69.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Edward A. Schlesinger sold 20,893 shares of the business’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $91.25, for a total transaction of $1,906,486.25. Following the transaction, the chief financial officer owned 66,959 shares in the company, valued at approximately $6,110,008.75. This trade represents a 23.78% 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 156,135 shares of company stock valued at $14,088,769. Corporate insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Susquehanna upped their price objective on shares of Corning from $75.00 to $100.00 and gave the company a “positive” rating in a research note on Wednesday, October 29th. Zacks Research cut Corning from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 21st. UBS Group restated a “buy” rating and set a $109.00 price target (up previously from $100.00) on shares of Corning in a research note on Friday, November 21st. Morgan Stanley boosted their price objective on Corning from $82.00 to $98.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 17th. Finally, Mizuho set a $97.00 price objective on Corning in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $93.09.

Corning Profile

Corning Incorporated is a global manufacturer specializing in specialty glass, ceramics and related materials and technologies. Headquartered in Corning, New York, the company supplies engineered materials and components used across multiple industries, including consumer electronics, telecommunications, automotive emissions control, pharmaceutical and life sciences, and industrial and scientific applications. Corning emphasizes materials science and precision manufacturing to develop durable, high-performance glass and ceramic products.

Key product lines include specialty display glass used by television and mobile-device manufacturers, cover glass marketed under well-known trade names for smartphones and tablets, and optical fiber and cable and related hardware for telecommunications networks.