Mitsubishi UFJ Trust & Banking Corp Lowers Position in Corning Incorporated $GLW

Mitsubishi UFJ Trust & Banking Corp trimmed its stake in shares of Corning Incorporated (NYSE:GLW) by 3.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 346,408 shares of the electronics maker’s stock after selling 11,557 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Corning were worth $28,416,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of GLW. Norges Bank purchased a new position in shares of Corning during the second quarter valued at about $534,936,000. Voya Investment Management LLC boosted its stake in Corning by 748.0% during 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 buying an additional 2,795,948 shares during the last quarter. Raymond James Financial Inc. grew its holdings in Corning by 93.0% during the 2nd quarter. Raymond James Financial Inc. now owns 3,407,608 shares of the electronics maker’s stock valued at $179,206,000 after buying an additional 1,641,558 shares in the last quarter. Vanguard Group Inc. increased its stake in Corning by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 97,952,109 shares of the electronics maker’s stock worth $5,151,301,000 after acquiring an additional 1,582,895 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Corning by 125.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,683,497 shares of the electronics maker’s stock worth $220,127,000 after acquiring an additional 1,495,277 shares during the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Insiders Place Their Bets

In other Corning news, insider Eric S. Musser sold 100,000 shares of the company’s 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 of the company’s stock, valued at $4,050,977.42. This represents a 69.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through 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 sale, the executive vice president owned 17,575 shares of the company’s stock, valued at approximately $1,565,053.75. This trade represents a 56.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 156,135 shares of company stock valued at $14,088,769. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GLW. Wall Street Zen raised shares of Corning from a “hold” rating to a “buy” rating in a report on Friday. Argus increased their price objective on shares of Corning from $68.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Barclays boosted their target price on shares of Corning from $65.00 to $83.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 29th. Citigroup increased their price target on shares of Corning from $99.00 to $102.00 and gave the company a “buy” rating in a report on Monday, January 12th. Finally, Morgan Stanley lifted their price target on Corning from $82.00 to $98.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $93.36.

Corning Price Performance

Corning stock opened at $93.37 on Monday. Corning Incorporated has a 12-month low of $37.31 and a 12-month high of $96.64. The company has a current ratio of 1.56, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62. The firm has a 50-day moving average price of $87.63 and a 200-day moving average price of $78.58. The firm has a market capitalization of $80.05 billion, a PE ratio of 59.09, a price-to-earnings-growth ratio of 1.64 and a beta of 1.13.

Corning (NYSE:GLW) last issued its quarterly earnings results on Tuesday, October 28th. The electronics maker reported $0.67 EPS for the quarter, beating the consensus estimate 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 in the prior year, the firm posted $0.54 EPS. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. As a group, equities research analysts forecast that Corning Incorporated will post 2.33 EPS for the current year.

About Corning

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.