Icon Wealth Advisors LLC decreased its holdings in shares of Corning Incorporated (NYSE:GLW – Free Report) by 36.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 17,487 shares of the electronics maker’s stock after selling 10,165 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Corning were worth $1,531,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Corning by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker’s stock worth $8,693,247,000 after purchasing an additional 580,678 shares during the last quarter. State Street Corp lifted its stake in Corning by 1.2% during the third quarter. State Street Corp now owns 37,008,856 shares of the electronics maker’s stock worth $3,035,836,000 after purchasing an additional 439,883 shares during the last quarter. Geode Capital Management LLC lifted its stake in Corning by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker’s stock worth $1,781,250,000 after purchasing an additional 517,067 shares during the last quarter. Capital Research Global Investors lifted its stake in Corning by 52.7% during the fourth quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock worth $1,478,959,000 after purchasing an additional 5,831,873 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in 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 purchasing an additional 3,848,540 shares during the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.
Insider Buying and Selling at Corning
In other news, CEO Wendell P. Weeks sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the completion of the sale, the chief executive officer owned 908,353 shares in the company, valued at $169,371,500.38. This represents a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Michaune D. Tillman sold 3,260 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $207.02, for a total value of $674,885.20. Following the sale, the senior vice president owned 10,174 shares of the company’s stock, valued at $2,106,221.48. This trade represents a 24.27% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 160,655 shares of company stock valued at $30,692,561. Corporate insiders own 0.25% of the company’s stock.
Corning Price Performance
Corning (NYSE:GLW – Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping 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 business had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter in the prior year, the business earned $0.54 earnings per share. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, research analysts forecast that Corning Incorporated will post 3.19 earnings per share for the current year.
Corning Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be paid a dividend of $0.28 per share. 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 is 53.59%.
Wall Street Analyst Weigh In
GLW has been the subject of several recent analyst reports. Wall Street Zen cut Corning from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Oppenheimer boosted their target price on Corning from $120.00 to $210.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Weiss Ratings restated a “buy (b-)” rating on shares of Corning in a research note on Friday, May 15th. Morgan Stanley set a $180.00 price objective on Corning in a research note on Friday, May 8th. Finally, Barclays boosted their price objective on Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Corning has an average rating of “Moderate Buy” and an average price target of $178.31.
View Our Latest Report on Corning
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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