Sterling Investment Counsel LLC Has $1.16 Million Stake in Corning Incorporated $GLW

Sterling Investment Counsel LLC lowered its position in shares of Corning Incorporated (NYSE:GLW) by 23.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,512 shares of the electronics maker’s stock after selling 2,670 shares during the period. Sterling Investment Counsel LLC’s holdings in Corning were worth $1,157,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Berbice Capital Management LLC bought a new position in Corning in the fourth quarter valued at about $26,000. Basepoint Wealth LLC bought a new stake in shares of Corning during the fourth quarter worth about $26,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in shares of Corning during the third quarter worth about $25,000. Kemnay Advisory Services Inc. acquired a new position in shares of Corning in the fourth quarter valued at approximately $27,000. Finally, Litman Gregory Wealth Management LLC acquired a new position in shares of Corning in the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on GLW. Zacks Research downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Morgan Stanley set a $180.00 price target on shares of Corning in a research report on Friday, May 8th. Oppenheimer raised their price target on shares of Corning from $120.00 to $210.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Corning in a report on Friday, May 15th. Finally, Citigroup lifted their price target on shares of Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Corning presently has a consensus rating of “Moderate Buy” and a consensus price target of $178.31.

Corning Price Performance

Shares of GLW opened at $195.28 on Monday. The business has a 50-day moving average of $180.63 and a 200-day moving average of $137.63. 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 company has a market capitalization of $168.06 billion, a price-to-earnings ratio of 93.44, a price-to-earnings-growth ratio of 2.79 and a beta of 1.15. Corning Incorporated has a 1 year low of $49.97 and a 1 year high of $211.79.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. The business had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The firm’s revenue was up 18.1% on a year-over-year basis. During the same period in the prior year, the business 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 anticipate that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be paid 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 is currently 53.59%.

Insider Activity at Corning

In related news, SVP Jaymin Amin sold 27,395 shares of the business’s 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 transaction, the senior vice president owned 94,400 shares in the company, valued at $18,138,016. The trade was a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Wendell P. Weeks sold 100,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the sale, the chief executive officer directly owned 908,353 shares in the company, valued at $169,371,500.38. This trade represents a 9.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 160,655 shares of company stock valued at $30,692,560 over the last 90 days. 0.25% of the stock is owned by company insiders.

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.