Modera Wealth Management LLC Sells 4,178 Shares of Corning Incorporated $GLW

Modera Wealth Management LLC decreased its stake in Corning Incorporated (NYSE:GLW) by 18.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,819 shares of the electronics maker’s stock after selling 4,178 shares during the period. Modera Wealth Management LLC’s holdings in Corning were worth $2,559,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC boosted its holdings in Corning by 46.0% in the 4th quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock valued at $319,000 after purchasing an additional 2,114 shares during the period. Retirement Planning Co of New England Inc. bought a new position in shares of Corning during the 1st quarter worth about $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Corning by 9.3% during 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 purchasing an additional 5,522 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of Corning during the second quarter valued at about $401,000. Finally, Schnieders Capital Management LLC. acquired a new position in shares of Corning during the second quarter valued at about $266,000. Institutional investors own 69.80% of the company’s stock.

Corning Price Performance

Shares of Corning stock opened at $154.47 on Monday. The firm has a market cap of $132.94 billion, a P/E ratio of 73.91, a price-to-earnings-growth ratio of 2.03 and a beta of 1.09. The firm’s 50-day simple moving average is $192.81 and its 200-day simple moving average is $153.30. Corning Incorporated has a twelve month low of $53.29 and a twelve month high of $271.78. 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 posted its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. The firm had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter 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. As a group, research analysts expect that Corning Incorporated will post 3.18 EPS for the current fiscal year.

Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a $0.28 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. Corning’s dividend payout ratio is presently 53.59%.

Insiders Place Their Bets

In other Corning news, SVP Jaymin Amin sold 27,395 shares of the company’s stock in a transaction 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 directly owned 94,400 shares in the company, valued at $18,138,016. This represents a 22.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total value of $18,646,000.00. Following the transaction, the chief executive officer owned 908,353 shares of the company’s stock, valued at $169,371,500.38. This represents a 9.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 160,655 shares of company stock worth $30,692,560 in the last 90 days. 0.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on GLW shares. Bank of America lifted their target price on Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. Mizuho upped their price target on Corning from $220.00 to $270.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Barclays raised their price objective on Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Susquehanna lifted their price objective on Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a report on Wednesday, April 29th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Corning has an average rating of “Moderate Buy” and a consensus target price of $194.69.

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.