J.W. Cole Advisors Inc. grew its holdings in shares of Corning Incorporated (NYSE:GLW – Free Report) by 8.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 60,058 shares of the electronics maker’s stock after buying an additional 4,841 shares during the period. J.W. Cole Advisors Inc.’s holdings in Corning were worth $5,259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently bought and sold shares of the business. Capital Research Global Investors purchased a new position in shares of Corning during the third quarter worth about $907,164,000. Norges Bank purchased a new position in shares of Corning during the fourth quarter worth about $921,435,000. Wellington Management Group LLP grew its holdings in shares of Corning by 30.3% during the third quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock worth $1,358,211,000 after buying an additional 3,848,540 shares during the last quarter. Polar Capital Holdings Plc grew its holdings in shares of Corning by 141.2% during the third quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock worth $329,035,000 after buying an additional 2,348,125 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Corning during the third quarter worth about $185,221,000. 69.80% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, SVP Soumya Seetharam sold 20,000 shares of Corning stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the completion of the sale, the senior vice president directly owned 25,570 shares in the company, valued at approximately $5,273,301.10. This trade represents a 43.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jaymin Amin sold 27,395 shares of Corning stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the sale, the senior vice president owned 94,400 shares of the company’s stock, valued at approximately $18,138,016. The trade was a 22.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 60,655 shares of company stock worth $12,046,561 over the last quarter. 0.25% of the stock is owned by company insiders.
Corning Price Performance
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 for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The company had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the previous year, the company earned $0.54 EPS. The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Research analysts anticipate that Corning Incorporated will post 3.19 earnings per share for the current year.
Corning Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Friday, May 29th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Friday, May 29th. Corning’s payout ratio is currently 53.59%.
Analyst Ratings Changes
GLW has been the topic of a number of research reports. Barclays raised their price target on Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Bank of America raised their price target on Corning from $155.00 to $186.00 and gave the stock a “buy” rating in a report on Monday, April 20th. JPMorgan Chase & Co. raised their price target on Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Morgan Stanley set a $180.00 price target on Corning in a report on Friday, May 8th. Finally, Citigroup raised their price target on Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $178.31.
View Our Latest Stock Report on Corning
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.
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