Corning Incorporated $GLW is Cookson Peirce & Co. Inc.’s 4th Largest Position

Cookson Peirce & Co. Inc. trimmed its holdings in shares of Corning Incorporated (NYSE:GLW) by 1.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 953,579 shares of the electronics maker’s stock after selling 11,798 shares during the period. Corning makes up 3.5% of Cookson Peirce & Co. Inc.’s investment portfolio, making the stock its 4th largest position. Cookson Peirce & Co. Inc.’s holdings in Corning were worth $83,495,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of GLW. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in shares of Corning during the third quarter valued at approximately $25,000. Berbice Capital Management LLC purchased a new stake in shares of Corning during the fourth quarter valued at approximately $26,000. Basepoint Wealth LLC purchased a new stake in shares of Corning during the fourth quarter valued at 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 valued at $33,000 after acquiring an additional 141 shares during the last quarter. Finally, JPL Wealth Management LLC purchased a new stake in shares of Corning during the third quarter valued at approximately $33,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Morgan Stanley set a $180.00 price objective on Corning in a report on Friday, May 8th. Zacks Research lowered Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Oppenheimer increased their price objective on Corning from $120.00 to $210.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. HSBC reissued a “buy” rating and set a $135.00 price objective on shares of Corning in a report on Friday, February 13th. Finally, UBS Group increased their price objective on Corning from $223.00 to $228.00 and gave the company a “buy” rating in a report on Friday. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $178.31.

Insider Buying and Selling

In related news, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction on Monday, May 11th. The stock was 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 approximately $2,106,221.48. This trade represents a 24.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jaymin Amin sold 27,395 shares of Corning stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total value of $5,263,675.30. Following the sale, the senior vice president directly owned 94,400 shares of the company’s stock, valued at $18,138,016. This represents a 22.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 60,655 shares of company stock valued at $12,046,561 over the last three months. Insiders own 0.25% of the company’s stock.

Corning Price Performance

Corning stock opened at $177.52 on Friday. Corning Incorporated has a one year low of $49.47 and a one year high of $211.79. The business has a fifty day moving average price of $173.00 and a 200-day moving average price of $130.26. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. The firm has a market capitalization of $152.78 billion, a P/E ratio of 84.94, a PEG ratio of 2.54 and a beta of 1.15.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The firm had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same period last year, the company earned $0.54 earnings per share. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, equities research analysts forecast that Corning Incorporated will post 3.19 EPS 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 issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, May 29th. Corning’s dividend payout ratio (DPR) is presently 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.