Corning Incorporated $GLW Stock Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its position in shares of Corning Incorporated (NYSE:GLW) by 3.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,658,182 shares of the electronics maker’s stock after selling 57,651 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.19% of Corning worth $254,962,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Corning during the 3rd quarter worth about $32,571,000. Pilgrim Partners Asia Pte Ltd lifted its holdings in Corning by 146.2% in the 3rd quarter. Pilgrim Partners Asia Pte Ltd now owns 6,400 shares of the electronics maker’s stock valued at $984,000 after purchasing an additional 3,800 shares in the last quarter. SFE Investment Counsel lifted its holdings in Corning by 6.5% in the 3rd quarter. SFE Investment Counsel now owns 19,921 shares of the electronics maker’s stock valued at $3,063,000 after purchasing an additional 1,212 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of Corning by 3.6% during the 3rd quarter. ProShare Advisors LLC now owns 152,282 shares of the electronics maker’s stock worth $23,415,000 after purchasing an additional 5,245 shares during the last quarter. Finally, Vise Technologies Inc. grew its holdings in shares of Corning by 9.7% during the third quarter. Vise Technologies Inc. now owns 44,473 shares of the electronics maker’s stock worth $6,838,000 after buying an additional 3,943 shares in the last quarter. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Key Corning News

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 Trading Down 0.0%

Shares of GLW opened at $123.29 on Monday. The company has a market capitalization of $106.20 billion, a P/E ratio of 49.92, a P/E/G ratio of 1.52 and a beta of 1.13. Corning Incorporated has a one year low of $77.39 and a one year high of $271.78. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.17 and a current ratio of 1.72. The stock has a 50-day moving average price of $147.88 and a 200 day moving average price of $154.97.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, October 27th. The electronics maker reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The firm had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $5.03 billion. Corning had a net margin of 12.13% and a return on equity of 20.83%. The firm’s revenue was up 18.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.67 EPS. Sell-side analysts forecast that Corning Incorporated will post 3.37 EPS for the current fiscal year.

Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 13th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.12 annualized dividend and a dividend yield of 0.9%. Corning’s dividend payout ratio (DPR) is 45.34%.

Wall Street Analysts Forecast Growth

Several research firms have commented on GLW. Citigroup reaffirmed a “buy” rating on shares of Corning in a research note on Tuesday, October 27th. Zacks Research raised Corning from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 28th. Sanford C. Bernstein started coverage on Corning in a report on Wednesday, September 30th. They set a “market perform” rating and a $140.00 price objective on the stock. The Goldman Sachs Group reaffirmed an “outperform” rating on shares of Corning in a research report on Tuesday, September 15th. Finally, China Renaissance upgraded Corning from a “hold” rating to a “buy” rating and set a $238.00 target price for the company in a research note on Tuesday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $175.81.

Insider Transactions at Corning

In other Corning 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 sale, the executive vice president directly owned 15,052 shares in the company, valued at approximately $2,277,217.08. This trade represents a 46.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.25% of the stock is owned by corporate insiders.

About Corning

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.