Bowen Hanes & Co. Inc. Sells 50,810 Shares of Corning Incorporated $GLW

Bowen Hanes & Co. Inc. lowered its holdings in Corning Incorporated (NYSE:GLW) by 3.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,431,349 shares of the electronics maker’s stock after selling 50,810 shares during the period. Corning comprises 3.1% of Bowen Hanes & Co. Inc.’s holdings, making the stock its 4th biggest holding. Bowen Hanes & Co. Inc.’s holdings in Corning were worth $125,329,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Berbice Capital Management LLC acquired a new position in shares of Corning in the 4th quarter worth approximately $26,000. Basepoint Wealth LLC acquired a new position in shares of Corning in the 4th quarter worth approximately $26,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in shares of Corning in the 3rd quarter worth approximately $25,000. Strengthening Families & Communities LLC acquired a new position in shares of Corning in the 3rd quarter worth approximately $27,000. Finally, Cornerstone Planning Group LLC grew its stake in shares of 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 purchasing an additional 124 shares during the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insider Activity at Corning

In other Corning news, SVP Michaune D. Tillman sold 3,260 shares of the company’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 transaction, the senior vice president owned 10,174 shares in the company, valued at approximately $2,106,221.48. This represents a 24.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Soumya Seetharam sold 20,000 shares of the company’s 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 $5,273,301.10. This trade represents a 43.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 60,655 shares of company stock worth $12,046,561 in the last 90 days. 0.25% of the stock is owned by corporate insiders.

Corning Stock Performance

Corning stock opened at $201.40 on Thursday. The firm’s 50 day simple moving average is $171.25 and its 200-day simple moving average is $129.11. The company has a market cap of $173.33 billion, a P/E ratio of 96.36, a price-to-earnings-growth ratio of 2.87 and a beta of 1.15. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. Corning Incorporated has a fifty-two week low of $49.47 and a fifty-two week high of $211.79.

Corning (NYSE:GLW) last released its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.01. The business had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The firm’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period last year, the firm posted $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, equities research analysts predict that Corning Incorporated will post 3.19 EPS for the current year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Friday, May 29th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, May 29th. Corning’s dividend payout ratio is currently 53.59%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on GLW shares. UBS Group lifted their price objective on shares of Corning from $179.00 to $223.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corning in a research note on Friday, May 15th. Oppenheimer lifted their price objective on shares of Corning from $120.00 to $210.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Susquehanna lifted their price objective on shares of Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research note on Wednesday, April 29th. Finally, Truist Financial lifted their target price on shares of Corning from $125.00 to $149.00 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $177.92.

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.