Diversify Advisory Services LLC Sells 9,809 Shares of Corning Incorporated $GLW

Diversify Advisory Services LLC trimmed its holdings in shares of Corning Incorporated (NYSE:GLW) by 21.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,515 shares of the electronics maker’s stock after selling 9,809 shares during the period. Diversify Advisory Services LLC’s holdings in Corning were worth $3,108,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Corning in the second quarter valued at about $534,936,000. WCM Investment Management LLC acquired a new position in Corning during the third quarter valued at approximately $676,931,000. Voya Investment Management LLC grew its stake in Corning by 748.0% in the third quarter. Voya Investment Management LLC now owns 3,169,741 shares of the electronics maker’s stock valued at $260,014,000 after purchasing an additional 2,795,948 shares in the last quarter. Raymond James Financial Inc. grew its stake in Corning by 93.0% in the second quarter. Raymond James Financial Inc. now owns 3,407,608 shares of the electronics maker’s stock valued at $179,206,000 after purchasing an additional 1,641,558 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Corning by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 97,952,109 shares of the electronics maker’s stock worth $5,151,301,000 after purchasing an additional 1,582,895 shares during the last quarter. Institutional investors own 69.80% of the company’s stock.

Insider Buying and Selling

In other news, CFO Edward A. Schlesinger sold 21,104 shares of the firm’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $104.55, for a total transaction of $2,206,423.20. Following the completion of the sale, the chief financial officer owned 54,780 shares in the company, valued at approximately $5,727,249. This trade represents a 27.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Wendell P. Weeks sold 137,514 shares of Corning stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $155.37, for a total transaction of $21,365,550.18. Following the sale, the chief executive officer directly owned 750,585 shares of the company’s stock, valued at $116,618,391.45. The trade was a 15.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 233,201 shares of company stock valued at $32,614,558. 0.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on GLW shares. Citigroup upped their price objective on Corning from $120.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Fox Advisors downgraded shares of Corning from an “overweight” rating to an “equal weight” rating in a report on Thursday, January 29th. Barclays set a $100.00 price target on shares of Corning in a research report on Thursday, January 29th. UBS Group increased their price target on shares of Corning from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Finally, Zacks Research downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 21st. Eleven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Corning presently has an average rating of “Moderate Buy” and an average target price of $125.42.

Corning Stock Performance

Shares of NYSE GLW opened at $128.84 on Tuesday. 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 Incorporated has a 12 month low of $37.31 and a 12 month high of $162.10. The stock has a 50 day moving average of $114.30 and a 200-day moving average of $93.65. The company has a market capitalization of $110.53 billion, a P/E ratio of 70.02, a P/E/G ratio of 2.13 and a beta of 1.04.

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, beating analysts’ consensus estimates of $0.71 by $0.01. Corning had a return on equity of 18.72% and a net margin of 10.21%.The business had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.35 billion. During the same quarter in the prior year, the business earned $0.57 EPS. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. As a group, equities research analysts predict that Corning Incorporated will post 2.33 EPS for the current year.

Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Friday, February 27th will be issued a $0.28 dividend. 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 currently 60.87%.

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.