Longfellow Investment Management Co. LLC trimmed its position in shares of Corning Incorporated (NYSE:GLW – Free Report) by 38.1% in the 4th quarter, Holdings Channel reports. The firm owned 8,411 shares of the electronics maker’s stock after selling 5,188 shares during the period. Longfellow Investment Management Co. LLC’s holdings in Corning were worth $736,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in GLW. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in shares of Corning during the third quarter worth approximately $25,000. Berbice Capital Management LLC purchased a new stake in shares of Corning during the fourth quarter worth approximately $26,000. Basepoint Wealth LLC purchased a new stake in shares of Corning during the fourth quarter worth approximately $26,000. Evolution Wealth Management Inc. increased its position in shares of Corning by 58.8% during the fourth quarter. Evolution Wealth Management Inc. now owns 381 shares of the electronics maker’s stock worth $33,000 after purchasing an additional 141 shares in the last quarter. Finally, JPL Wealth Management LLC purchased a new stake in shares of Corning during the third quarter worth approximately $33,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several brokerages recently commented on GLW. HSBC reiterated a “buy” rating and set a $135.00 price target on shares of Corning in a research report on Friday, February 13th. Bank of America upped their target price on Corning from $155.00 to $186.00 and gave the company a “buy” rating in a report on Monday, April 20th. UBS Group upped their target price on Corning from $223.00 to $228.00 and gave the company a “buy” rating in a report on Friday. Citigroup upped their target price on Corning from $175.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Corning in a report on Friday, May 15th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $178.31.
Corning Stock Down 10.2%
Shares of NYSE:GLW opened at $177.52 on Friday. 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 business has a fifty day moving average of $173.00 and a two-hundred day moving average of $130.26. The stock has a market cap of $152.78 billion, a P/E ratio of 84.94, a PEG ratio of 2.54 and a beta of 1.15. Corning Incorporated has a 52-week low of $49.47 and a 52-week high of $211.79.
Corning (NYSE:GLW – Get Free Report) last issued its earnings results 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 company 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 firm’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, research analysts expect that Corning Incorporated will post 3.19 earnings per share for the current year.
Corning Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be issued a dividend of $0.28 per share. The ex-dividend date is Friday, May 29th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.6%. Corning’s dividend payout ratio is currently 53.59%.
Insiders Place Their Bets
In other news, SVP Soumya Seetharam sold 20,000 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the completion of the transaction, the senior vice president directly owned 25,570 shares in the company, valued at approximately $5,273,301.10. This represents a 43.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jaymin Amin sold 27,395 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $192.14, for a total value of $5,263,675.30. Following the transaction, the senior vice president owned 94,400 shares of the company’s stock, valued at approximately $18,138,016. This represents a 22.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 60,655 shares of company stock valued at $12,046,561. 0.25% of the stock is owned by company insiders.
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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