AGF Management Ltd. Sells 19,430 Shares of Corning Incorporated (NYSE:GLW)

14 Mar 2025, 06:16 by Jessica Moore · The Cerbat Gem

AGF Management Ltd. lessened its position in Corning Incorporated (NYSE:GLW – Free Report) by 26.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 53,682 shares of the electronics maker’s stock after selling 19,430 shares during the period. AGF Management Ltd.’s holdings in Corning were worth $2,551,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of GLW. Oregon Public Employees Retirement Fund increased its position in shares of Corning by 0.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 66,063 shares of the electronics maker’s stock valued at $3,139,000 after buying an additional 204 shares in the last quarter. Principal Securities Inc. grew its stake in Corning by 3.5% in the fourth quarter. Principal Securities Inc. now owns 6,170 shares of the electronics maker’s stock valued at $293,000 after acquiring an additional 211 shares during the period. Bogart Wealth LLC increased its holdings in shares of Corning by 18.3% in the fourth quarter. Bogart Wealth LLC now owns 1,419 shares of the electronics maker’s stock worth $67,000 after acquiring an additional 219 shares in the last quarter. Buffington Mohr McNeal raised its position in shares of Corning by 2.1% during the fourth quarter. Buffington Mohr McNeal now owns 10,461 shares of the electronics maker’s stock worth $497,000 after purchasing an additional 220 shares during the period. Finally, Allworth Financial LP lifted its holdings in shares of Corning by 1.1% during the 4th quarter. Allworth Financial LP now owns 19,581 shares of the electronics maker’s stock valued at $930,000 after purchasing an additional 220 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on GLW shares. Hsbc Global Res raised Corning from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 30th. Citigroup increased their price objective on shares of Corning from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. HSBC raised shares of Corning from a “hold” rating to a “buy” rating and boosted their price objective for the company from $51.00 to $60.00 in a research report on Thursday, January 30th. Barclays lowered their target price on Corning from $53.00 to $52.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Finally, Morgan Stanley boosted their price target on Corning from $39.00 to $48.00 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Corning presently has an average rating of “Moderate Buy” and a consensus target price of $53.00.

Get Our Latest Research Report on GLW

Insiders Place Their Bets

In other news, SVP Michael Alan Bell sold 2,209 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $49.87, for a total transaction of $110,162.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Eric S. Musser sold 30,000 shares of Corning stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $51.92, for a total transaction of $1,557,600.00. Following the sale, the chief operating officer now directly owns 152,944 shares of the company’s stock, valued at $7,940,852.48. The trade was a 16.40 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.

Corning Stock Performance

Shares of GLW opened at $45.56 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.62 and a quick ratio of 1.07. The firm has a 50-day moving average of $49.89 and a 200-day moving average of $47.43. The company has a market cap of $39.02 billion, a PE ratio of 78.55, a price-to-earnings-growth ratio of 1.50 and a beta of 1.03. Corning Incorporated has a one year low of $30.72 and a one year high of $55.33.

Corning (NYSE:GLW – Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The electronics maker reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.01. Corning had a return on equity of 15.10% and a net margin of 3.86%. As a group, equities analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend is Friday, February 28th. Corning’s dividend payout ratio is 193.10%.

Corning Profile

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