Wakefield Asset Management LLLP Decreases Stock Holdings in Corning Incorporated $GLW

Wakefield Asset Management LLLP decreased its holdings in shares of Corning Incorporated (NYSE:GLW) by 36.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,842 shares of the electronics maker’s stock after selling 3,293 shares during the period. Wakefield Asset Management LLLP’s holdings in Corning were worth $512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in Corning in the 3rd quarter valued at $25,000. Strengthening Families & Communities LLC purchased a new position in Corning in the 3rd quarter valued at $27,000. Cornerstone Planning Group LLC lifted its holdings in Corning by 58.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker’s stock valued at $30,000 after purchasing an additional 124 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Corning in the 4th quarter valued at $35,000. Finally, JPL Wealth Management LLC purchased a new position in Corning in the 3rd quarter valued at $33,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on GLW. HSBC restated a “buy” rating and issued a $135.00 price objective on shares of Corning in a report on Friday, February 13th. Wolfe Research set a $130.00 price objective on Corning and gave the company an “outperform” rating in a report on Tuesday, January 27th. Fox Advisors lowered Corning from an “overweight” rating to an “equal weight” rating in a report on Thursday, January 29th. Susquehanna raised their target price on Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research note on Wednesday, April 29th. Finally, Mizuho raised their target price on Corning from $190.00 to $220.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Corning currently has an average rating of “Moderate Buy” and a consensus price target of $177.92.

Corning Stock Down 7.7%

Shares of NYSE:GLW opened at $192.18 on Friday. The business has a 50-day moving average price of $156.22 and a 200 day moving average price of $119.68. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $165.40 billion, a price-to-earnings ratio of 91.95, a PEG ratio of 2.74 and a beta of 1.14. Corning Incorporated has a 12-month low of $47.40 and a 12-month high of $211.79.

Corning (NYSE:GLW) last issued its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The firm had revenue of $4.35 billion during 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 quarterly revenue was up 18.1% on a year-over-year basis. During the same period last year, the company earned $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Sell-side analysts expect that Corning Incorporated will post 3.19 EPS for the current year.

Corning Announces Dividend

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

Insider Transactions at Corning

In other Corning news, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $207.02, for a total value of $674,885.20. Following the completion of the transaction, the senior vice president directly owned 10,174 shares of the company’s stock, valued at $2,106,221.48. The trade was a 24.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Soumya Seetharam sold 20,000 shares of Corning stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $206.23, for a total value of $4,124,600.00. Following the completion of the transaction, the senior vice president directly owned 25,570 shares of the company’s stock, valued at approximately $5,273,301.10. This represents a 43.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 170,774 shares of company stock valued at $28,148,435. 0.25% of the stock is owned by insiders.

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.