Minneapolis Portfolio Management Group LLC reduced its stake in Corning Incorporated (NYSE:GLW – Free Report) by 17.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 586,390 shares of the electronics maker’s stock after selling 121,277 shares during the quarter. Corning makes up approximately 5.8% of Minneapolis Portfolio Management Group LLC’s investment portfolio, making the stock its largest position. Minneapolis Portfolio Management Group LLC’s holdings in Corning were worth $51,344,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in shares of Corning by 46.0% during the 4th quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock worth $319,000 after purchasing an additional 2,114 shares during the last quarter. Retirement Planning Co of New England Inc. acquired a new stake in shares of Corning during the 1st quarter worth about $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Corning by 9.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock worth $2,962,000 after purchasing an additional 5,522 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Corning during the 2nd quarter worth about $401,000. Finally, Schnieders Capital Management LLC. acquired a new stake in shares of Corning during the 2nd quarter worth about $266,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the company. Bank of America raised their price objective on Corning from $155.00 to $186.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. JPMorgan Chase & Co. raised their price objective on Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. HSBC reissued a “buy” rating and set a $135.00 price objective on shares of Corning in a research report on Friday, February 13th. Morgan Stanley set a $180.00 target price on Corning in a report on Friday, May 8th. Finally, Susquehanna raised their target price on Corning from $125.00 to $180.00 and gave the company a “positive” rating in a report on Wednesday, April 29th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $177.92.
Insider Buying and Selling
In other news, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $207.02, for a total value of $674,885.20. Following the completion of the transaction, the senior vice president owned 10,174 shares in the company, valued at approximately $2,106,221.48. This trade represents a 24.27% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP John Z. Zhang sold 10,000 shares of Corning stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $198.34, for a total value of $1,983,400.00. Following the completion of the transaction, the vice president owned 5,138 shares of the company’s stock, valued at $1,019,070.92. The trade was a 66.06% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 60,655 shares of company stock worth $12,046,561. 0.25% of the stock is owned by corporate insiders.
Corning Stock Performance
Shares of Corning stock opened at $176.45 on Tuesday. The business has a 50-day moving average of $168.33 and a 200 day moving average of $127.49. Corning Incorporated has a 12 month low of $49.10 and a 12 month high of $211.79. The stock has a market capitalization of $151.86 billion, a price-to-earnings ratio of 84.42, a price-to-earnings-growth ratio of 2.59 and a beta of 1.14. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06.
Corning (NYSE:GLW – Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.01. The business had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The business’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, sell-side analysts forecast that Corning Incorporated will post 3.19 earnings per share for the current year.
Corning Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Friday, May 29th. Corning’s dividend payout ratio (DPR) is presently 53.59%.
Corning 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.
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