Sei Investments Co. Sells 232,320 Shares of Corning Incorporated $GLW

Sei Investments Co. cut its stake in shares of Corning Incorporated (NYSE:GLW) by 26.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 647,504 shares of the electronics maker’s stock after selling 232,320 shares during the period. Sei Investments Co. owned 0.08% of Corning worth $88,042,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Signature Equity Partners LLC grew its position in shares of Corning by 19.3% in the first quarter. Signature Equity Partners LLC now owns 383 shares of the electronics maker’s stock valued at $52,000 after purchasing an additional 62 shares during the last quarter. Wiregrass Investment Management LLC raised its holdings in Corning by 12.5% in the 1st quarter. Wiregrass Investment Management LLC now owns 6,130 shares of the electronics maker’s stock valued at $834,000 after acquiring an additional 683 shares in the last quarter. First Citizens Bank & Trust Co. lifted its position in Corning by 31.4% during the first quarter. First Citizens Bank & Trust Co. now owns 10,918 shares of the electronics maker’s stock worth $1,485,000 after purchasing an additional 2,607 shares during the period. Alesco Advisors LLC An ESL Co bought a new stake in shares of Corning during the 1st quarter worth approximately $632,000. Finally, Saturna Capital Corp bought a new stake in Corning during the first quarter worth $272,000. Institutional investors own 69.80% of the company’s stock.

Corning Price Performance

Shares of GLW opened at $146.57 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. The stock has a market cap of $126.14 billion, a PE ratio of 70.13, a PEG ratio of 2.05 and a beta of 1.09. Corning Incorporated has a 12-month low of $54.89 and a 12-month high of $271.78. The business has a 50-day simple moving average of $188.01 and a two-hundred day simple moving average of $155.14.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.01. The firm had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The company’s revenue was up 18.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Analysts anticipate that Corning Incorporated will post 3.18 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be paid a $0.28 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. Corning’s payout ratio is currently 53.59%.

Analyst Ratings Changes

GLW has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their price target on Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Mizuho boosted their target price on Corning from $220.00 to $270.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a report on Friday, May 15th. Morgan Stanley set a $180.00 price target on shares of Corning in a research note on Friday, May 8th. Finally, Bank of America lifted their price target on shares of Corning from $223.00 to $243.00 and gave the company a “buy” rating in a report on Monday, July 6th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $194.69.

Insiders Place Their Bets

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of Corning stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the transaction, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at approximately $169,371,500.38. The trade was a 9.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 shares were sold at an average price of $206.23, for a total value of $4,124,600.00. Following the completion of the sale, the senior vice president owned 25,570 shares in the company, valued at $5,273,301.10. This trade represents a 43.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 160,655 shares of company stock valued at $30,692,560 over 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.