Corning Incorporated $GLW Stock Sold by MGO One Seven LLC

MGO One Seven LLC trimmed its stake in shares of Corning Incorporated (NYSE:GLW) by 9.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,731 shares of the electronics maker’s stock after selling 5,649 shares during the period. MGO One Seven LLC’s holdings in Corning were worth $8,569,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in Corning by 13.4% in the second quarter. State Street Corp now owns 41,108,384 shares of the electronics maker’s stock worth $10,500,315,000 after purchasing an additional 4,845,027 shares during the last quarter. Bank of America Corp DE raised its stake in Corning by 29.2% during the 2nd quarter. Bank of America Corp DE now owns 18,730,616 shares of the electronics maker’s stock valued at $4,784,361,000 after buying an additional 4,231,507 shares during the last quarter. Wellington Management Group LLP raised its stake in Corning by 50.9% during the 2nd quarter. Wellington Management Group LLP now owns 13,174,194 shares of the electronics maker’s stock valued at $3,365,084,000 after buying an additional 4,446,514 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Corning during the 2nd quarter valued at $1,510,911,000. Finally, Legal & General Group Plc bought a new position in shares of Corning during the 2nd quarter valued at $1,212,283,000. Institutional investors own 69.80% of the company’s stock.

Insider Buying and Selling at Corning

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

Corning Price Performance

NYSE GLW opened at $123.29 on Monday. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.51. Corning Incorporated has a 12 month low of $77.39 and a 12 month high of $271.78. The stock has a market cap of $106.20 billion, a price-to-earnings ratio of 49.92, a PEG ratio of 1.52 and a beta of 1.13. The company’s 50 day moving average is $147.88 and its two-hundred day moving average is $154.97.

Corning (NYSE:GLW) last posted its quarterly earnings results 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 business had revenue of $5.08 billion during the quarter, compared to analyst estimates of $5.03 billion. Corning had a net margin of 12.13% and a return on equity of 20.83%. The company’s revenue was up 18.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.67 earnings per share. As a group, research analysts anticipate that Corning Incorporated will post 3.37 earnings per share for the current year.

Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 13th 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, November 13th. Corning’s dividend payout ratio (DPR) is presently 45.34%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. China Renaissance upgraded Corning from a “hold” rating to a “buy” rating and set a $238.00 price target on the stock in a research note on Tuesday, September 8th. Oppenheimer reduced their price objective on Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. Truist Financial reissued a “buy” rating and issued a $175.00 target price (down from $182.00) on shares of Corning in a report on Wednesday, October 28th. Citigroup reissued a “buy” rating on shares of Corning in a research report on Tuesday, October 27th. Finally, Mizuho cut their price target on Corning from $210.00 to $180.00 and set an “outperform” rating for the company in a research note on Tuesday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Corning has an average rating of “Moderate Buy” and a consensus price target of $175.81.

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 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.