Wellington Shields & Co. LLC Reduces Stock Position in Corning Incorporated $GLW

Wellington Shields & Co. LLC trimmed its stake in shares of Corning Incorporated (NYSE:GLW) by 15.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,676 shares of the electronics maker’s stock after selling 5,500 shares during the period. Wellington Shields & Co. LLC’s holdings in Corning were worth $2,516,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. CVA Family Office LLC lifted its holdings in shares of Corning by 10.3% during the 3rd quarter. CVA Family Office LLC now owns 1,190 shares of the electronics maker’s stock valued at $98,000 after buying an additional 111 shares during the period. Vista Investment Partners LLC grew its holdings in shares of Corning by 1.3% in the third quarter. Vista Investment Partners LLC now owns 9,496 shares of the electronics maker’s stock worth $779,000 after acquiring an additional 119 shares during the period. Sapient Capital LLC increased its position in Corning by 2.2% during the third quarter. Sapient Capital LLC now owns 5,626 shares of the electronics maker’s stock valued at $452,000 after acquiring an additional 120 shares during the last quarter. Sivia Capital Partners LLC lifted its holdings in Corning by 1.6% in the third quarter. Sivia Capital Partners LLC now owns 7,740 shares of the electronics maker’s stock valued at $635,000 after acquiring an additional 124 shares during the period. Finally, Cornerstone Planning Group LLC boosted its position in Corning by 58.5% in the third quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker’s stock worth $30,000 after purchasing an additional 124 shares during the last quarter. Institutional investors own 69.80% of the company’s stock.

Analyst Ratings Changes

GLW has been the subject of several research reports. JPMorgan Chase & Co. upped their price target on shares of Corning from $100.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, January 28th. Oppenheimer set a $120.00 target price on shares of Corning in a research report on Thursday, January 29th. Weiss Ratings downgraded shares of Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, January 27th. Citigroup lifted their price target on shares of Corning from $102.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. Finally, Wall Street Zen upgraded Corning from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Nine research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Corning presently has an average rating of “Moderate Buy” and a consensus target price of $112.36.

Insider Activity

In related news, insider Eric S. Musser sold 25,000 shares of Corning stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $110.00, for a total transaction of $2,750,000.00. Following the sale, the insider owned 19,926 shares of the company’s stock, valued at approximately $2,191,860. This trade represents a 55.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Li Fang sold 9,797 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $113.51, for a total value of $1,112,057.47. The disclosure for this sale is available in the SEC filing. Insiders have sold 55,945 shares of company stock worth $6,072,986 over the last ninety days. Corporate insiders own 0.40% of the company’s stock.

Corning Stock Performance

GLW opened at $122.31 on Friday. The company has a 50 day simple moving average of $92.96 and a two-hundred day simple moving average of $82.06. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.04. The firm has a market cap of $104.86 billion, a P/E ratio of 66.47, a PEG ratio of 1.95 and a beta of 1.13. Corning Incorporated has a 1-year low of $37.31 and a 1-year high of $122.56.

Corning (NYSE:GLW) last released its earnings results on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. The company had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.35 billion. Corning had a net margin of 10.21% and a return on equity of 18.72%. Corning’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.57 EPS. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. Equities analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

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.