Corning Incorporated $GLW Shares Sold by Lombard Odier Asset Management USA Corp

Lombard Odier Asset Management USA Corp trimmed its holdings in Corning Incorporated (NYSE:GLW) by 71.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,359 shares of the electronics maker’s stock after selling 26,248 shares during the period. Lombard Odier Asset Management USA Corp’s holdings in Corning were worth $907,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in GLW. Merit Financial Group LLC raised its holdings in shares of Corning by 16.9% in the 4th quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker’s stock worth $3,940,000 after purchasing an additional 6,493 shares during the period. Lansforsakringar Fondforvaltning AB publ raised its holdings in shares of Corning by 4.9% in the 3rd quarter. Lansforsakringar Fondforvaltning AB publ now owns 261,749 shares of the electronics maker’s stock worth $21,471,000 after purchasing an additional 12,297 shares during the period. Security National Bank raised its holdings in shares of Corning by 340.4% in the 4th quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock worth $6,350,000 after purchasing an additional 56,056 shares during the period. Natixis Advisors LLC raised its holdings in shares of Corning by 32.1% in the 3rd quarter. Natixis Advisors LLC now owns 479,921 shares of the electronics maker’s stock worth $39,367,000 after purchasing an additional 116,583 shares during the period. Finally, Three Seasons Wealth LLC purchased a new position in shares of Corning in the 4th quarter worth about $1,750,000. 69.80% of the stock is owned by institutional investors and hedge funds.

Corning Stock Performance

Shares of NYSE:GLW opened at $177.34 on Wednesday. The company has a market cap of $152.62 billion, a P/E ratio of 84.85, a PEG ratio of 2.69 and a beta of 1.15. 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 one year low of $49.97 and a one year high of $211.79. The business’s 50-day simple moving average is $178.51 and its 200 day simple moving average is $135.42.

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 $4.35 billion for the quarter, compared to the consensus estimate of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The company’s revenue was up 18.1% on a year-over-year basis. During the same period last year, the business posted $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, sell-side analysts forecast that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Friday, May 29th will be issued a dividend of $0.28 per share. The ex-dividend date is Friday, May 29th. This represents a $1.12 annualized dividend and a yield of 0.6%. Corning’s payout ratio is currently 53.59%.

Insider Activity at Corning

In other Corning news, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $207.02, for a total transaction of $674,885.20. Following the sale, the senior vice president directly owned 10,174 shares in the company, valued at $2,106,221.48. The trade was a 24.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jaymin Amin sold 27,395 shares of Corning stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $192.14, for a total value of $5,263,675.30. Following the sale, the senior vice president owned 94,400 shares in the company, valued at $18,138,016. This represents a 22.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 160,655 shares of company stock worth $30,692,561 over the last ninety days. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on GLW shares. UBS Group raised their price objective on Corning from $223.00 to $228.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Mizuho raised their target price on Corning from $190.00 to $220.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Morgan Stanley set a $180.00 target price on Corning in a report on Friday, May 8th. Susquehanna raised their target price on Corning from $125.00 to $180.00 and gave the company a “positive” rating in a report on Wednesday, April 29th. Finally, Truist Financial raised their target price on Corning from $125.00 to $149.00 and gave the company a “hold” rating in a report on Wednesday, April 29th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Corning has a consensus rating of “Moderate Buy” and a consensus target price of $178.31.

About Corning

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.