Telemark Asset Management LLC Reduces Stake in Corning Incorporated $GLW

Telemark Asset Management LLC lowered its stake in Corning Incorporated (NYSE:GLW) by 16.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 200,000 shares of the electronics maker’s stock after selling 40,000 shares during the period. Corning makes up approximately 1.7% of Telemark Asset Management LLC’s investment portfolio, making the stock its 17th biggest position. Telemark Asset Management LLC’s holdings in Corning were worth $17,512,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Comprehensive Financial Planning Inc. PA purchased a new position in Corning in the fourth quarter worth about $161,000. XML Financial LLC bought a new stake in Corning in the fourth quarter worth about $205,000. Nemes Rush Group LLC lifted its stake in Corning by 11.5% in the fourth quarter. Nemes Rush Group LLC now owns 9,911 shares of the electronics maker’s stock worth $868,000 after purchasing an additional 1,021 shares during the last quarter. Havemeyer Place LP bought a new stake in Corning in the fourth quarter worth about $2,644,000. Finally, Peachtree Investment Partners LLC bought a new stake in Corning in the fourth quarter worth about $343,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Corning Stock Performance

Shares of NYSE:GLW opened at $177.52 on Friday. The firm has a market cap of $152.78 billion, a PE ratio of 84.94, a price-to-earnings-growth ratio of 2.54 and a beta of 1.15. The firm’s 50 day simple moving average is $173.00 and its 200-day simple moving average is $130.26. Corning Incorporated has a one year low of $49.47 and a one year high of $211.79. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61.

Corning (NYSE:GLW) last issued its 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. The business had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period last year, the company posted $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, equities analysts predict that Corning Incorporated will post 3.19 EPS for the current year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend 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 (DPR) is 53.59%.

Insider Activity at Corning

In other news, VP John Z. Zhang sold 10,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president directly owned 5,138 shares of the company’s stock, valued at approximately $1,019,070.92. This trade represents a 66.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Michaune D. Tillman sold 3,260 shares of the firm’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 transaction of $674,885.20. Following the transaction, the senior vice president directly owned 10,174 shares in the company, valued at approximately $2,106,221.48. This trade represents a 24.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 60,655 shares of company stock valued at $12,046,561. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on GLW shares. Oppenheimer raised 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. HSBC reissued a “buy” rating and set a $135.00 price target on shares of Corning in a research note on Friday, February 13th. Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a research note on Friday, May 15th. Bank of America raised their price target on Corning from $155.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Finally, Truist Financial raised their price target on Corning from $125.00 to $149.00 and gave the stock a “hold” rating in a research note on Wednesday, April 29th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $178.31.

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.