Cardinal Point Capital Management ULC Has $3.11 Million Stock Holdings in Corning Incorporated $GLW

Cardinal Point Capital Management ULC lessened its stake in Corning Incorporated (NYSE:GLW) by 12.8% in the first quarter, Holdings Channel reports. The firm owned 22,877 shares of the electronics maker’s stock after selling 3,345 shares during the quarter. Cardinal Point Capital Management ULC’s holdings in Corning were worth $3,111,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in shares of Corning during the 3rd quarter worth approximately $25,000. Berbice Capital Management LLC bought a new position in Corning in the fourth quarter valued at approximately $26,000. Basepoint Wealth LLC acquired a new position in Corning during the fourth quarter valued at approximately $26,000. Kemnay Advisory Services Inc. acquired a new position in Corning during the fourth quarter valued at approximately $27,000. Finally, Litman Gregory Wealth Management LLC acquired a new position in Corning during the fourth quarter valued at approximately $31,000. Institutional investors own 69.80% of the company’s stock.

Corning Trading Up 6.1%

NYSE:GLW opened at $205.91 on Thursday. The firm’s fifty day moving average is $182.50 and its 200-day moving average is $140.14. 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 Incorporated has a 52 week low of $51.09 and a 52 week high of $217.09. The firm has a market cap of $177.21 billion, a P/E ratio of 98.52, a P/E/G ratio of 2.78 and a beta of 1.15.

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 company had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Equities analysts expect that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Friday, May 29th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Friday, May 29th. Corning’s payout ratio is 53.59%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GLW. Barclays upped their price objective on Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Mizuho boosted their target price on Corning from $190.00 to $220.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. Morgan Stanley set a $180.00 target price on Corning in a research note on Friday, May 8th. Bank of America increased their target price on shares of Corning from $155.00 to $186.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Finally, Zacks Research downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Corning has an average rating of “Moderate Buy” and a consensus target price of $182.62.

Insider Buying and Selling at Corning

In related news, VP John Z. Zhang sold 10,000 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the completion of the sale, the vice president owned 5,138 shares in the company, valued at approximately $1,019,070.92. This represents a 66.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Soumya Seetharam sold 20,000 shares of the company’s stock in a transaction dated 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 sale, the senior vice president directly owned 25,570 shares of the company’s stock, valued at $5,273,301.10. The trade was a 43.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 160,655 shares of company stock worth $30,692,560 in the last ninety days. 0.25% of the stock is currently owned by corporate 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.