Corning Incorporated $GLW Holdings Cut by Payden & Rygel

Payden & Rygel lessened its position in shares of Corning Incorporated (NYSE:GLW) by 22.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 96,700 shares of the electronics maker’s stock after selling 28,100 shares during the quarter. Payden & Rygel’s holdings in Corning were worth $14,869,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Western Pacific Wealth Management LP bought a new position in shares of Corning in the third quarter worth approximately $25,000. Kings Path Partners LLC purchased a new position in Corning during the 3rd quarter valued at approximately $25,000. Atwood & Palmer Inc. purchased a new stake in Corning during the second quarter valued at $26,000. Rogco LP bought a new stake in shares of Corning in the 2nd quarter valued at approximately $27,000. Finally, Toth Financial Advisory Corp boosted its stake in shares of Corning by 130.7% during the 3rd quarter. Toth Financial Advisory Corp now owns 173 shares of the electronics maker’s stock worth $27,000 after purchasing an additional 98 shares during the period. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Insider Transactions at Corning

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

Trending Headlines about Corning

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning’s third-quarter sales increased roughly 19% year over year, while earnings exceeded estimates. Growth in Optical Communications, improving margins and demand from AI data-center customers supported the results and the company’s outlook. Corning Q3 Sales Jump 19% as AI Optical Demand and Margins Accelerate
• Positive Sentiment: Zacks Research upgraded GLW from “hold” to “strong-buy,” and Truist Financial reaffirmed its “buy” rating. These actions indicate that some analysts continue to view AI-driven photonics growth and stronger execution as attractive catalysts. Zacks Research Stock Recommendations Corning Stock Rating Reaffirmed as Buy by Truist Financial
• Positive Sentiment: Reports highlight completed production expansion and major customer opportunities, although the valuation benefit depends on Corning converting higher demand into sustained profit-margin improvement. Morgan Stanley Report on Corning’s Production Expansion
• Neutral Sentiment: Corning was featured among dividend-growth stocks with solid fundamentals, but the broader article does not represent a company-specific catalyst. Dividend Growth Stocks Article
• Negative Sentiment: Morgan Stanley lowered its expectations for Corning’s stock, while a separate fair-value estimate fell from $189.94 to $182.76. The revisions reflect concerns about elevated valuation, execution risk and whether AI-related growth can justify the stock’s premium multiple. Morgan Stanley Lowers Expectations for Corning Corning Fair Value Edges Lower
• Negative Sentiment: Exchange-traded funds were reported as net sellers of GLW, adding near-term technical pressure. The stock also remains below its 50- and 200-day moving averages, while its high price-to-earnings ratio leaves it vulnerable to further profit-taking. ETFs Are Net Sellers of Corning

Corning Stock Down 4.3%

Shares of NYSE:GLW opened at $123.29 on Friday. The company has a market capitalization of $106.20 billion, a PE ratio of 49.92, a P/E/G ratio of 1.59 and a beta of 1.13. Corning Incorporated has a twelve month low of $77.39 and a twelve month high of $271.78. The firm has a 50 day simple moving average of $147.88 and a 200-day simple moving average of $154.97. The company has a current ratio of 1.72, a quick ratio of 1.24 and a debt-to-equity ratio of 0.51.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, October 27th. The electronics maker reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The company had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $5.03 billion. Corning had a return on equity of 20.83% and a net margin of 12.13%. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same period last year, the firm earned $0.67 EPS. On average, equities analysts predict that Corning Incorporated will post 3.37 EPS for the current fiscal year.

Corning Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.12 annualized dividend and a yield of 0.9%. Corning’s dividend payout ratio (DPR) is presently 45.34%.

Wall Street Analyst Weigh In

GLW has been the subject of a number of research reports. Citigroup reiterated a “buy” rating on shares of Corning in a report on Tuesday. Sanford C. Bernstein began coverage on Corning in a research note on Wednesday, September 30th. They issued a “market perform” rating and a $140.00 price objective for the company. JPMorgan Chase & Co. decreased their target price on shares of Corning from $170.00 to $165.00 and set a “neutral” rating for the company in a research report on Wednesday, October 21st. Wall Street Zen upgraded shares of Corning from a “hold” rating to a “buy” rating in a research note on Saturday, October 10th. Finally, The Goldman Sachs Group reissued an “outperform” rating on shares of Corning in a research note on Tuesday, September 15th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Corning presently has an average rating of “Moderate Buy” and a consensus target price of $175.81.

Corning 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.