Guggenheim Capital LLC Sells 8,184 Shares of Corning Incorporated $GLW

Guggenheim Capital LLC reduced its holdings in shares of Corning Incorporated (NYSE:GLW) by 3.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 235,076 shares of the electronics maker’s stock after selling 8,184 shares during the quarter. Guggenheim Capital LLC’s holdings in Corning were worth $12,363,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC grew its position in Corning by 69.3% in the second quarter. EverSource Wealth Advisors LLC now owns 9,454 shares of the electronics maker’s stock valued at $497,000 after purchasing an additional 3,871 shares in the last quarter. CW Advisors LLC grew its holdings in shares of Corning by 53.5% in the 2nd quarter. CW Advisors LLC now owns 30,070 shares of the electronics maker’s stock valued at $1,582,000 after acquiring an additional 10,483 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Corning in the second quarter valued at about $36,000. Groupe la Francaise raised its holdings in Corning by 8.2% during the second quarter. Groupe la Francaise now owns 2,284 shares of the electronics maker’s stock worth $120,000 after acquiring an additional 173 shares in the last quarter. Finally, Beacon Pointe Advisors LLC boosted its position in Corning by 1.0% during the second quarter. Beacon Pointe Advisors LLC now owns 61,520 shares of the electronics maker’s stock valued at $3,235,000 after purchasing an additional 632 shares during the last quarter. Institutional investors own 69.80% of the company’s stock.

Insider Buying and Selling at Corning

In other news, insider Eric S. Musser sold 100,000 shares of Corning stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $90.17, for a total value of $9,017,000.00. Following the transaction, the insider owned 44,926 shares in the company, valued at approximately $4,050,977.42. This trade represents a 69.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Edward A. Schlesinger sold 20,893 shares of the business’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $91.25, for a total value of $1,906,486.25. Following the transaction, the chief financial officer directly owned 66,959 shares of the company’s stock, valued at $6,110,008.75. This trade represents a 23.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 173,856 shares of company stock valued at $15,456,476 over the last three months. 0.40% of the stock is owned by insiders.

Corning Price Performance

NYSE:GLW opened at $85.57 on Friday. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $92.57. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.56. The firm’s 50-day simple moving average is $84.75 and its 200 day simple moving average is $68.44. The firm has a market cap of $73.36 billion, a price-to-earnings ratio of 54.16, a P/E/G ratio of 1.83 and a beta of 1.11.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the prior year, the business posted $0.54 EPS. The business’s revenue was up 20.9% compared to the same quarter last year. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. As a group, sell-side analysts predict that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 14th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, November 14th. Corning’s payout ratio is 70.89%.

Analyst Ratings Changes

A number of research firms have weighed in on GLW. Citigroup raised their price target on Corning from $93.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Wall Street Zen cut shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Saturday, September 13th. UBS Group reaffirmed a “buy” rating and set a $109.00 price target (up from $100.00) on shares of Corning in a research report on Friday, November 21st. Morgan Stanley set a $82.00 price objective on shares of Corning in a research report on Wednesday, October 29th. Finally, Zacks Research downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 21st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $91.64.

Corning Profile

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.