KLP Kapitalforvaltning AS Sells 34,400 Shares of Corning Incorporated $GLW

KLP Kapitalforvaltning AS lessened its stake in shares of Corning Incorporated (NYSE:GLW) by 8.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 394,460 shares of the electronics maker’s stock after selling 34,400 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Corning were worth $32,358,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of GLW. Sentry LLC bought a new stake in Corning during the third quarter valued at about $290,000. O Brien Wealth Partners LLC acquired a new stake in shares of Corning during the 3rd quarter worth approximately $657,000. Louisiana State Employees Retirement System increased its holdings in Corning by 0.5% in the 3rd quarter. Louisiana State Employees Retirement System now owns 40,900 shares of the electronics maker’s stock valued at $3,355,000 after buying an additional 200 shares during the period. Kathmere Capital Management LLC bought a new stake in Corning in the third quarter valued at about $298,000. Finally, Gladstone Institutional Advisory LLC raised its holdings in shares of Corning by 20.2% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 5,329 shares of the electronics maker’s stock worth $437,000 after buying an additional 894 shares in the last quarter. 69.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Morgan Stanley increased their target price on shares of Corning from $82.00 to $98.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 17th. UBS Group reissued a “buy” rating and set a $109.00 price objective (up from $100.00) on shares of Corning in a report on Friday, November 21st. Susquehanna upped their target price on shares of Corning from $75.00 to $100.00 and gave the company a “positive” rating in a research report on Wednesday, October 29th. Citigroup increased their price target on shares of Corning from $93.00 to $99.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. raised their price objective on Corning from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. One 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’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $93.09.

Corning Trading Down 1.4%

NYSE GLW opened at $87.97 on Thursday. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $96.64. 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 stock’s 50 day moving average price is $86.59 and its two-hundred day moving average price is $75.13. The stock has a market capitalization of $75.42 billion, a price-to-earnings ratio of 55.68, a PEG ratio of 1.63 and a beta of 1.13.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. The company had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.24 billion. Corning had a net margin of 9.16% and a return on equity of 18.12%. The firm’s revenue was up 20.9% compared to the same quarter last year. During the same period last year, the company earned $0.54 earnings per share. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. As a group, analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Corning

In related news, EVP Lewis A. Steverson sold 23,142 shares of Corning stock in a transaction dated 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 sale, the executive vice president owned 17,575 shares of the company’s stock, valued at approximately $1,565,053.75. The trade was a 56.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Stefan Becker sold 12,100 shares of the stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $91.28, for a total value of $1,104,488.00. Following 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 156,135 shares of company stock valued at $14,088,769 over the last quarter. 0.40% of the stock is currently owned by corporate insiders.

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.