Corning Incorporated $GLW Stock Sold by Kercheville Advisors LLC

Kercheville Advisors LLC lessened its holdings in Corning Incorporated (NYSE:GLW) by 55.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,160 shares of the electronics maker’s stock after selling 3,895 shares during the quarter. Kercheville Advisors LLC’s holdings in Corning were worth $486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Alliance Wealth Advisors LLC raised its position in Corning by 1.4% in the second quarter. Alliance Wealth Advisors LLC now owns 4,045 shares of the electronics maker’s stock worth $1,033,000 after acquiring an additional 56 shares during the period. Ares Financial Consulting LLC boosted its stake in Corning by 15.6% in the second quarter. Ares Financial Consulting LLC now owns 444 shares of the electronics maker’s stock valued at $113,000 after acquiring an additional 60 shares during the last quarter. Signature Equity Partners LLC grew its position in shares of Corning by 19.3% during the 1st quarter. Signature Equity Partners LLC now owns 383 shares of the electronics maker’s stock valued at $52,000 after acquiring an additional 62 shares during the period. Beirne Wealth Consulting Services LLC grew its position in shares of Corning by 0.8% during the 1st quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker’s stock valued at $1,094,000 after acquiring an additional 64 shares during the period. Finally, Balefire LLC grew its position in shares of Corning by 0.7% during the 1st quarter. Balefire LLC now owns 9,595 shares of the electronics maker’s stock valued at $1,305,000 after acquiring an additional 65 shares during the period. 69.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Lewis Steverson sold 13,100 shares of the firm’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $151.29, for a total value of $1,981,899.00. Following the completion of the transaction, the executive vice president directly owned 15,052 shares of the company’s stock, valued at $2,277,217.08. This trade represents a 46.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is currently owned by corporate insiders.

Corning Stock Performance

Shares of GLW traded up $0.83 during trading hours on Monday, hitting $132.83. The company’s stock had a trading volume of 6,864,080 shares, compared to its average volume of 11,934,437. The business has a 50 day simple moving average of $154.18 and a two-hundred day simple moving average of $168.95. Corning Incorporated has a 52-week low of $77.39 and a 52-week high of $271.78. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24. The company has a market cap of $114.42 billion, a price-to-earnings ratio of 60.65, a PEG ratio of 1.68 and a beta of 1.13.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. The company had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. Corning’s revenue was up 17.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, equities analysts expect that Corning Incorporated will post 3.28 earnings per share for the current fiscal year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Friday, November 13th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, November 13th. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. Corning’s dividend payout ratio is currently 51.14%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Morgan Stanley decreased their price target on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 29th. China Renaissance upgraded Corning from a “hold” rating to a “buy” rating and set a $238.00 price objective on the stock in a research note on Tuesday, September 8th. The Goldman Sachs Group reissued an “outperform” rating on shares of Corning in a report on Tuesday, September 15th. Wall Street Zen raised Corning from a “hold” rating to a “buy” rating in a report on Saturday, October 10th. Finally, Barclays decreased their target price on Corning from $180.00 to $129.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 29th. Thirteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, Corning presently has an average rating of “Moderate Buy” and an average target price of $177.56.

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.