Ceredex Value Advisors LLC Sells 316,900 Shares of Corning Incorporated $GLW

Ceredex Value Advisors LLC lowered its stake in shares of Corning Incorporated (NYSE:GLW) by 53.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 277,200 shares of the electronics maker’s stock after selling 316,900 shares during the quarter. Ceredex Value Advisors LLC’s holdings in Corning were worth $22,739,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Corning by 0.8% in the third quarter. Vanguard Group Inc. now owns 98,702,639 shares of the electronics maker’s stock valued at $8,096,577,000 after purchasing an additional 750,530 shares during the period. State Street Corp boosted its holdings in shares of Corning by 1.4% during the 2nd quarter. State Street Corp now owns 36,568,973 shares of the electronics maker’s stock worth $1,923,162,000 after buying an additional 509,013 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Corning by 0.6% during the 2nd quarter. Geode Capital Management LLC now owns 19,443,525 shares of the electronics maker’s stock worth $1,018,629,000 after buying an additional 112,739 shares during the period. Ameriprise Financial Inc. grew its stake in Corning by 8.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock valued at $724,432,000 after buying an additional 1,036,988 shares during the last quarter. Finally, Capital Research Global Investors acquired a new position in Corning in the 3rd quarter valued at $907,164,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Stock Performance

Shares of NYSE GLW opened at $128.84 on Tuesday. The firm has a market capitalization of $110.53 billion, a price-to-earnings ratio of 70.02, a PEG ratio of 2.13 and a beta of 1.04. Corning Incorporated has a one year low of $37.31 and a one year high of $162.10. The business has a fifty day simple moving average of $114.30 and a 200 day simple moving average of $93.65. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last posted its quarterly earnings results on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.01. The firm had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.35 billion. Corning had a net margin of 10.21% and a return on equity of 18.72%. The business’s revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.57 earnings per share. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. Sell-side analysts expect that Corning Incorporated will post 2.33 EPS for the current year.

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, February 27th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, February 27th. Corning’s payout ratio is 60.87%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on GLW shares. Oppenheimer set a $120.00 target price on shares of Corning in a research report on Thursday, January 29th. Wolfe Research set a $130.00 price target on Corning and gave the company an “outperform” rating in a research report on Tuesday, January 27th. Fox Advisors lowered Corning from an “overweight” rating to an “equal weight” rating in a research note on Thursday, January 29th. HSBC reissued a “buy” rating and set a $135.00 price objective on shares of Corning in a research report on Friday, February 13th. Finally, Citigroup raised their target price on Corning from $120.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $125.42.

Insiders Place Their Bets

In related news, insider Eric S. Musser sold 15,000 shares of the stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $130.25, for a total value of $1,953,750.00. Following the completion of the transaction, the insider owned 4,926 shares of the company’s stock, valued at $641,611.50. This represents a 75.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Lewis A. Steverson sold 15,366 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $130.22, for a total transaction of $2,000,960.52. Following the transaction, the executive vice president owned 3,461 shares of the company’s stock, valued at approximately $450,691.42. This represents a 81.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 233,201 shares of company stock valued at $32,614,558 over the last 90 days. Company insiders own 0.32% of the company’s stock.

Corning Company 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.