Parkside Investments LLC reduced its stake in Corning Incorporated (NYSE:GLW – Free Report) by 16.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,544 shares of the electronics maker’s stock after selling 17,578 shares during the period. Parkside Investments LLC’s holdings in Corning were worth $7,753,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in GLW. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in Corning in the 3rd quarter worth about $25,000. Berbice Capital Management LLC bought a new position in Corning in the 4th quarter worth about $26,000. Strengthening Families & Communities LLC bought a new position in Corning in the 3rd quarter worth about $27,000. Cornerstone Planning Group LLC grew its stake in Corning by 58.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker’s stock worth $30,000 after acquiring an additional 124 shares in the last quarter. Finally, JPL Wealth Management LLC bought a new position in Corning in the 3rd quarter worth about $33,000. 69.80% of the stock is currently owned by institutional investors.
Insider Activity
In related news, SVP Michaune D. Tillman sold 3,260 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $207.02, for a total transaction 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 $2,106,221.48. This represents a 24.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP John Z. Zhang sold 10,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the sale, the vice president directly 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 170,774 shares of company stock worth $28,148,435. 0.25% of the stock is currently owned by insiders.
Corning Price Performance
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 analysts’ consensus estimates of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The firm had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same period last year, the firm earned $0.54 earnings per share. The company’s quarterly revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Sell-side analysts forecast that Corning Incorporated will post 3.19 EPS for the current fiscal year.
Corning Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.12 dividend on an annualized basis and a yield of 0.6%. Corning’s dividend payout ratio is presently 53.59%.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on GLW shares. Mizuho upped their target price on shares of Corning from $190.00 to $220.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. Bank of America upped their target price on shares of Corning from $155.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Fox Advisors downgraded shares of Corning from an “overweight” rating to an “equal weight” rating in a research note on Thursday, January 29th. Barclays increased their price objective on shares of Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Finally, Wolfe Research set a $130.00 price objective on shares of Corning and gave the company an “outperform” rating in a research note on Tuesday, January 27th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Corning has a consensus rating of “Moderate Buy” and an average target price of $177.92.
Check Out Our Latest Research Report on GLW
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.
Read More
- Five stocks we like better than Corning
- SpaceX Gets the Attention, But These 4 Stocks Could Get the Returns
- Microsoft Stock Discount May Be Ending as AI Catalysts Build
- Apparel Earnings Winners and Losers: Ralph Lauren Takes Off
- Why Walmart, Target and TJX Got Such Different Reactions After Earnings
Want to see what other hedge funds are holding GLW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corning Incorporated (NYSE:GLW – Free Report).
Receive News & Ratings for Corning Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corning and related companies with MarketBeat.com's FREE daily email newsletter.
