Corning Incorporated $GLW Shares Sold by Cornerstone Enterprises LLC

Cornerstone Enterprises LLC trimmed its stake in Corning Incorporated (NYSE:GLW) by 32.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,210 shares of the electronics maker’s stock after selling 5,275 shares during the quarter. Corning accounts for 1.0% of Cornerstone Enterprises LLC’s portfolio, making the stock its 20th largest position. Cornerstone Enterprises LLC’s holdings in Corning were worth $1,724,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. NFSG Corp raised its holdings in shares of Corning by 378.2% during the third quarter. NFSG Corp now owns 35,828 shares of the electronics maker’s stock worth $5,509,000 after acquiring an additional 28,336 shares in the last quarter. SLT Holdings LLC purchased a new position in Corning in the third quarter valued at about $235,000. Walser Wealth Management Company A Ltd Liability Co grew its stake in Corning by 38.6% in the third quarter. Walser Wealth Management Company A Ltd Liability Co now owns 5,115 shares of the electronics maker’s stock valued at $786,000 after purchasing an additional 1,424 shares in the last quarter. Two West Capital Advisors LLC grew its stake in Corning by 4.0% in the third quarter. Two West Capital Advisors LLC now owns 1,959 shares of the electronics maker’s stock valued at $311,000 after purchasing an additional 76 shares in the last quarter. Finally, V Square Quantitative Management LLC increased its position in Corning by 30.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 5,111 shares of the electronics maker’s stock worth $786,000 after purchasing an additional 1,179 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Corning

In related news, EVP Lewis Steverson sold 13,100 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $151.29, for a total value of $1,981,899.00. Following the transaction, the executive vice president directly owned 15,052 shares of the company’s stock, valued at approximately $2,277,217.08. This trade represents a 46.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.25% of the company’s stock.

Corning Stock Down 1.8%

GLW stock opened at $138.31 on Friday. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. Corning Incorporated has a 1 year low of $77.39 and a 1 year high of $271.78. The company has a fifty day simple moving average of $154.85 and a 200 day simple moving average of $168.92. The firm has a market cap of $119.14 billion, a PE ratio of 63.16, a PEG ratio of 1.80 and a beta of 1.13.

Corning (NYSE:GLW) last issued its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.02. Corning had a net margin of 11.20% and a return on equity of 20.09%. The firm had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.63 billion. During the same period in the prior year, the company posted $0.60 earnings per share. Corning’s revenue for the quarter was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Sell-side analysts anticipate that Corning Incorporated will post 3.28 EPS for the current fiscal year.

Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 13th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. Corning’s dividend payout ratio is currently 51.14%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Weiss Ratings downgraded Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. Truist Financial lifted their price target on Corning from $175.00 to $182.00 and gave the company a “buy” rating in a report on Friday, October 2nd. The Goldman Sachs Group reissued an “outperform” rating on shares of Corning in a research note on Tuesday, September 15th. JPMorgan Chase & Co. lowered their price target on Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, July 29th. Finally, China Renaissance upgraded Corning from a “hold” rating to a “buy” rating and set a $238.00 price objective on the stock in a report on Tuesday, September 8th. Thirteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $177.56.

Corning Profile

Corning Incorporated (NYSE: GLW) is a global materials science and technology company headquartered in Corning, New York. Founded in 1851, the company develops specialized glass, ceramics and optical technologies for customers in the communications, consumer electronics, automotive, life sciences and industrial markets.

Its Optical Communications segment supplies fiber, cable, hardware and related solutions used in telecommunications and data center networks. Corning also produces glass substrates for flat-panel displays, including televisions, monitors and other electronic devices, as well as specialty cover glass such as Gorilla Glass for mobile devices and other consumer electronics.

Additional products include automotive emissions-control substrates and filters, pharmaceutical and laboratory glassware, and advanced glass and ceramic materials used in semiconductor, aerospace, environmental and other applications.