Flputnam Investment Management Co. Reduces Position in Corning Incorporated $GLW

Flputnam Investment Management Co. trimmed its position in Corning Incorporated (NYSE:GLW) by 2.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 138,589 shares of the electronics maker’s stock after selling 3,829 shares during the period. Flputnam Investment Management Co.’s holdings in Corning were worth $35,400,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in GLW. Brighton Jones LLC raised its holdings in Corning by 46.0% in the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock worth $319,000 after purchasing an additional 2,114 shares in the last quarter. Retirement Planning Co of New England Inc. purchased a new stake in shares of Corning in the 1st quarter worth about $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Corning by 9.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock worth $2,962,000 after acquiring an additional 5,522 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in Corning during the 2nd quarter valued at about $401,000. Finally, Schnieders Capital Management LLC. bought a new stake in Corning during the second quarter worth about $266,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

Corning Price Performance

NYSE GLW opened at $148.87 on Friday. Corning Incorporated has a one year low of $66.14 and a one year high of $271.78. The stock has a 50-day moving average of $171.18 and a 200 day moving average of $164.60. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. The company has a market capitalization of $128.23 billion, a price-to-earnings ratio of 67.98, a PEG ratio of 1.91 and a beta of 1.14.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $4.63 billion. During the same quarter last year, the firm posted $0.60 EPS. The business’s quarterly revenue was up 17.1% compared to the same quarter last year. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, sell-side analysts forecast that Corning Incorporated will post 3.27 EPS for the current year.

Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be issued a $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a yield of 0.8%. Corning’s dividend payout ratio (DPR) is currently 51.14%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on GLW shares. Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Truist Financial upgraded shares of Corning from a “hold” rating to a “buy” rating and dropped their price target for the stock from $205.00 to $175.00 in a research note on Sunday, August 2nd. Citigroup decreased their target price on shares of Corning from $240.00 to $220.00 and set a “buy” rating for the company in a report on Wednesday, July 29th. Bank of America upped their target price on shares of Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a research note on Monday, July 6th. Finally, Oppenheimer reduced their price target on shares of Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $174.08.

Insider Buying and Selling

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the business’s 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 directly owned 908,353 shares in the company, 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 is accessible through this hyperlink. Company insiders own 0.25% of the company’s stock.

Corning 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.