Teachers Retirement System of The State of Kentucky decreased its stake in Corning Incorporated (NYSE:GLW – Free Report) by 10.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 124,345 shares of the electronics maker’s stock after selling 14,113 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Corning were worth $16,907,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Berbice Capital Management LLC bought a new position in Corning in the fourth quarter valued at $26,000. Basepoint Wealth LLC bought a new stake in Corning during the fourth quarter worth about $26,000. Kemnay Advisory Services Inc. purchased a new position in shares of Corning in the 4th quarter worth about $27,000. Litman Gregory Wealth Management LLC purchased a new position in shares of Corning in the 4th quarter worth about $31,000. Finally, Evolution Wealth Management Inc. increased its position in shares of Corning by 58.8% during the 4th quarter. Evolution Wealth Management Inc. now owns 381 shares of the electronics maker’s stock valued at $33,000 after purchasing an additional 141 shares during the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.
Insider Buying and Selling
In related news, SVP Jaymin Amin sold 27,395 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president directly owned 94,400 shares in the company, valued at $18,138,016. This represents a 22.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP John Z. Zhang sold 10,000 shares of the stock in a transaction 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. Insiders sold 160,655 shares of company stock valued at $30,692,560 over the last quarter. Company insiders own 0.25% of the company’s stock.
Wall Street Analysts Forecast Growth
View Our Latest Research Report on GLW
Corning Trading Down 4.1%
NYSE GLW opened at $183.14 on Tuesday. The firm has a market cap of $157.62 billion, a PE ratio of 87.63, a price-to-earnings-growth ratio of 2.50 and a beta of 1.09. Corning Incorporated has a 1-year low of $51.32 and a 1-year high of $271.78. The stock has a 50-day moving average of $193.56 and a 200-day moving average of $151.06. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62.
Corning (NYSE:GLW – Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (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 $4.34 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same period last year, the company earned $0.54 EPS. Corning’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, sell-side analysts forecast that Corning Incorporated will post 3.19 EPS for the current year.
Corning Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. Corning’s dividend payout ratio (DPR) is currently 53.59%.
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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