Corning Incorporated $GLW Shares Sold by Nexus Investment Management ULC

Nexus Investment Management ULC decreased its holdings in shares of Corning Incorporated (NYSE:GLW) by 13.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 81,000 shares of the electronics maker’s stock after selling 13,000 shares during the quarter. Corning comprises approximately 0.9% of Nexus Investment Management ULC’s investment portfolio, making the stock its 21st largest holding. Nexus Investment Management ULC’s holdings in Corning were worth $6,644,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Brighton Jones LLC lifted its position in shares of Corning by 46.0% during the 4th quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock worth $319,000 after buying an additional 2,114 shares during the last quarter. Retirement Planning Co of New England Inc. purchased a new stake in Corning in the first quarter valued at $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Corning by 9.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock valued at $2,962,000 after acquiring an additional 5,522 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in Corning by 4.7% in the first quarter. Geneos Wealth Management Inc. now owns 4,961 shares of the electronics maker’s stock valued at $227,000 after acquiring an additional 224 shares in the last quarter. Finally, First Hawaiian Bank grew its holdings in shares of Corning by 8.9% during the first quarter. First Hawaiian Bank now owns 24,437 shares of the electronics maker’s stock worth $1,119,000 after purchasing an additional 1,991 shares during the last quarter. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Corning Price Performance

Shares of NYSE GLW opened at $85.23 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.56. Corning Incorporated has a one year low of $37.31 and a one year high of $96.64. The firm has a market capitalization of $73.07 billion, a P/E ratio of 53.94, a PEG ratio of 1.55 and a beta of 1.13. The company’s fifty day moving average is $86.42 and its two-hundred day moving average is $75.77.

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

Insider Transactions at Corning

In related news, SVP Stefan Becker sold 12,100 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president directly owned 5,049 shares of the company’s stock, valued at $460,872.72. This trade represents a 70.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Lewis A. Steverson sold 23,142 shares of Corning stock in a transaction on Friday, October 31st. The stock was sold at an average price of $89.05, for a total value of $2,060,795.10. Following the transaction, the executive vice president directly owned 17,575 shares of the company’s stock, valued at approximately $1,565,053.75. This represents a 56.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 156,135 shares of company stock worth $14,088,769. 0.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on GLW. UBS Group reissued a “buy” rating and issued a $109.00 target price (up from $100.00) on shares of Corning in a research report on Friday, November 21st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Corning in a research note on Monday, December 29th. Barclays lifted their target price on shares of Corning from $65.00 to $83.00 and gave the company an “equal weight” rating in a report on Wednesday, October 29th. Susquehanna increased their price target on shares of Corning from $75.00 to $100.00 and gave the stock a “positive” rating in a research note on Wednesday, October 29th. Finally, Morgan Stanley upped their target price on shares of Corning from $82.00 to $98.00 and gave the company an “equal weight” rating in a report on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $93.09.

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.