Foster & Motley Inc. Has $9.12 Million Stock Holdings in Corning Incorporated $GLW

Foster & Motley Inc. decreased its holdings in shares of Corning Incorporated (NYSE:GLW) by 23.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 67,079 shares of the electronics maker’s stock after selling 20,322 shares during the period. Foster & Motley Inc.’s holdings in Corning were worth $9,121,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in GLW. KRS Capital Management LLC grew its stake in shares of Corning by 2.2% during the first quarter. KRS Capital Management LLC now owns 4,058 shares of the electronics maker’s stock worth $552,000 after purchasing an additional 88 shares during the period. Sheets Smith Wealth Management lifted its stake in Corning by 2.1% in the first quarter. Sheets Smith Wealth Management now owns 4,450 shares of the electronics maker’s stock valued at $605,000 after buying an additional 90 shares during the period. Beese Fulmer Investment Management Inc. boosted its holdings in Corning by 2.5% during the fourth quarter. Beese Fulmer Investment Management Inc. now owns 3,836 shares of the electronics maker’s stock worth $336,000 after buying an additional 92 shares during the last quarter. 3Chopt Investment Partners LLC boosted its holdings in Corning by 1.0% during the fourth quarter. 3Chopt Investment Partners LLC now owns 10,248 shares of the electronics maker’s stock worth $897,000 after buying an additional 97 shares during the last quarter. Finally, Patten & Patten Inc. TN grew its position in shares of Corning by 0.6% during the 4th quarter. Patten & Patten Inc. TN now owns 17,796 shares of the electronics maker’s stock worth $1,558,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insider Transactions at Corning

In other news, CEO Wendell P. Weeks sold 100,000 shares of the 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 completion of the sale, the chief executive officer owned 908,353 shares of the company’s stock, valued at $169,371,500.38. This represents a 9.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jaymin Amin sold 27,395 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the sale, the senior vice president owned 94,400 shares in the company, valued at approximately $18,138,016. The trade was a 22.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 160,655 shares of company stock valued at $30,692,560. 0.25% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

GLW has been the subject of a number of recent analyst reports. Citigroup upped their price target on Corning from $175.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. UBS Group lifted their price objective on shares of Corning from $223.00 to $228.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. Susquehanna boosted their price objective on shares of Corning from $125.00 to $180.00 and gave the company a “positive” rating in a report on Wednesday, April 29th. Oppenheimer upped their target price 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. Finally, Truist Financial increased their target price on shares of Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a report on Monday. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Corning currently has an average rating of “Moderate Buy” and a consensus price target of $182.62.

Corning Stock Up 10.8%

Shares of Corning stock opened at $228.14 on Friday. The company has a market capitalization of $196.35 billion, a P/E ratio of 109.16, a price-to-earnings-growth ratio of 2.95 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. The business has a 50-day moving average of $183.60 and a two-hundred day moving average of $141.15. Corning Incorporated has a 1 year low of $51.32 and a 1 year high of $230.50.

Corning (NYSE:GLW) last released its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The business had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter in the previous year, the business posted $0.54 EPS. Corning’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 analysts predict that Corning Incorporated will post 3.19 EPS for the current year.

Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio (DPR) is 53.59%.

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.