Sumitomo Mitsui Trust Group Inc. Lowers Stock Position in Corning Incorporated $GLW

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of Corning Incorporated (NYSE:GLW) by 4.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,740,855 shares of the electronics maker’s stock after selling 87,657 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.20% of Corning worth $236,704,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Brighton Jones LLC raised its position in Corning by 46.0% in the fourth 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. purchased a new position in shares of Corning during the first quarter worth $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Corning by 9.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock valued at $2,962,000 after buying an additional 5,522 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Corning in the second quarter valued at $401,000. Finally, Schnieders Capital Management LLC. purchased a new stake in shares of Corning in the 2nd quarter valued at $266,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Stock Performance

Shares of Corning stock opened at $192.53 on Friday. Corning Incorporated has a one year low of $51.32 and a one year high of $271.78. The company has a market cap of $165.70 billion, a PE ratio of 92.12, a P/E/G ratio of 2.41 and a beta of 1.09. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. The business has a 50-day simple moving average of $192.40 and a 200-day simple moving average of $149.67.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The firm had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter last year, the company earned $0.54 earnings per share. The firm’s revenue was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities research analysts forecast that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Announces Dividend

The company also recently disclosed 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. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio (DPR) is presently 53.59%.

Insider Buying and Selling at Corning

In other news, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction on Monday, May 11th. The shares were 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. 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 accessible through the SEC website. Also, VP John Z. Zhang sold 10,000 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the transaction, the vice president owned 5,138 shares of the company’s stock, valued at approximately $1,019,070.92. The trade was a 66.06% decrease in their position. 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. 0.25% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GLW. Bank of America increased their target price on Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a research note on Monday. Truist Financial boosted their price target on shares of Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a research note on Monday, June 22nd. Oppenheimer increased their price target on shares of Corning from $210.00 to $230.00 and gave the stock an “outperform” rating in a research report on Tuesday. UBS Group set a $243.00 price objective on shares of Corning in a research note on Monday. Finally, Wall Street Zen cut shares of Corning from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Ten investment 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, Corning presently has a consensus rating of “Moderate Buy” and an average price target of $193.54.

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.