Corning Incorporated $GLW Shares Sold by Patton Fund Management Inc.

Patton Fund Management Inc. lessened its stake in Corning Incorporated (NYSE:GLW) by 63.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,433 shares of the electronics maker’s stock after selling 43,031 shares during the quarter. Patton Fund Management Inc.’s holdings in Corning were worth $3,322,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Merit Financial Group LLC raised its stake in Corning by 16.9% in the 4th quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker’s stock valued at $3,940,000 after purchasing an additional 6,493 shares during the last quarter. Security National Bank grew its holdings in shares of Corning by 340.4% during the fourth quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock worth $6,350,000 after buying an additional 56,056 shares in the last quarter. Natixis Advisors LLC raised its position in shares of Corning by 32.1% in the third quarter. Natixis Advisors LLC now owns 479,921 shares of the electronics maker’s stock valued at $39,367,000 after buying an additional 116,583 shares during the last quarter. Three Seasons Wealth LLC purchased a new position in shares of Corning in the fourth quarter worth about $1,750,000. Finally, RiverFront Investment Group LLC boosted its position in Corning by 65.4% during the fourth quarter. RiverFront Investment Group LLC now owns 14,718 shares of the electronics maker’s stock worth $1,289,000 after acquiring an additional 5,818 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Stock Up 0.9%

GLW stock opened at $223.00 on Monday. Corning Incorporated has a one year low of $51.32 and a one year high of $230.50. The firm has a market cap of $191.92 billion, a PE ratio of 106.70, a PEG ratio of 3.16 and a beta of 1.15. The firm’s 50 day moving average price is $184.70 and its 200-day moving average price is $142.10. 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 (NYSE:GLW) last issued its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.01. The company had revenue of $4.34 billion during 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 period in the prior year, the business posted $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities research analysts anticipate that Corning Incorporated will post 3.19 EPS for the current year.

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.28 per share. The ex-dividend date is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.5%. Corning’s dividend payout ratio is currently 53.59%.

Insider Buying and Selling at Corning

In related news, SVP Michaune D. Tillman sold 3,260 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $207.02, for a total transaction of $674,885.20. Following the completion of the sale, the senior vice president directly owned 10,174 shares of the company’s stock, valued at approximately $2,106,221.48. This trade represents a 24.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jaymin Amin sold 27,395 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the completion of the sale, the senior vice president owned 94,400 shares in the company, valued at approximately $18,138,016. This trade represents a 22.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 160,655 shares of company stock worth $30,692,560. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Wall Street Zen downgraded shares of Corning from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Barclays increased their price target on Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. Mizuho upped 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. Finally, Oppenheimer raised their target price on Corning from $120.00 to $210.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $182.62.

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.