Pathway Financial Advisers LLC lessened its holdings in shares of Corning Incorporated (NYSE:GLW – Free Report) by 10.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,710 shares of the electronics maker’s stock after selling 2,265 shares during the period. Pathway Financial Advisers LLC’s holdings in Corning were worth $2,544,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in shares of Corning during the 3rd quarter valued at $25,000. Berbice Capital Management LLC purchased a new stake in Corning during the fourth quarter valued at about $26,000. Basepoint Wealth LLC acquired a new position in Corning in the 4th quarter worth approximately $26,000. Kemnay Advisory Services Inc. purchased a new position in shares of Corning during the fourth quarter valued at $27,000. Finally, Litman Gregory Wealth Management LLC purchased a new stake in shares of Corning in the fourth quarter worth approximately $31,000. 69.80% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several equities analysts recently weighed in on GLW shares. Barclays raised their price objective on shares of Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Zacks Research lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Morgan Stanley set a $180.00 price objective on Corning in a research report on Friday, May 8th. Truist Financial boosted their price target on Corning from $149.00 to $205.00 and gave the company a “hold” rating in a research note on Monday, June 22nd. Finally, Wall Street Zen lowered shares of Corning from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $182.62.
Insider Transactions at Corning
In other Corning news, SVP Jaymin Amin sold 27,395 shares of the 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 transaction, the senior vice president owned 94,400 shares in the company, valued at $18,138,016. This represents a 22.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Michaune D. Tillman sold 3,260 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the completion of the sale, the senior vice president owned 10,174 shares of the company’s stock, valued at approximately $2,106,221.48. This trade represents a 24.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 160,655 shares of company stock worth $30,692,560. Company insiders own 0.25% of the company’s stock.
Corning Price Performance
Shares of GLW opened at $255.79 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. The company has a 50 day moving average of $186.49 and a 200-day moving average of $143.26. The stock has a market capitalization of $220.14 billion, a P/E ratio of 122.39, a P/E/G ratio of 3.16 and a beta of 1.15. Corning Incorporated has a twelve month low of $51.32 and a twelve month high of $258.80.
Corning (NYSE:GLW – Get Free Report) last released 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. Corning had a return on equity of 19.45% and a net margin of 11.09%.The firm had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the prior year, the company earned $0.54 earnings per share. The business’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. As a group, equities research analysts forecast that Corning Incorporated will post 3.19 EPS for the current fiscal year.
Corning Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be paid a $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a yield of 0.4%. Corning’s payout ratio is 53.59%.
Corning Company 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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