Corning Incorporated $GLW Position Reduced by Portside Wealth Group LLC

Portside Wealth Group LLC reduced its stake in shares of Corning Incorporated (NYSE:GLW) by 31.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,683 shares of the electronics maker’s stock after selling 8,745 shares during the period. Portside Wealth Group LLC’s holdings in Corning were worth $1,533,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Norges Bank bought a new stake in Corning in the second quarter valued at about $534,936,000. WCM Investment Management LLC bought a new stake in shares of Corning in the 3rd quarter valued at approximately $676,931,000. Voya Investment Management LLC raised its position in shares of Corning by 748.0% during the 3rd quarter. Voya Investment Management LLC now owns 3,169,741 shares of the electronics maker’s stock valued at $260,014,000 after acquiring an additional 2,795,948 shares in the last quarter. Raymond James Financial Inc. lifted its stake in Corning by 93.0% during the second quarter. Raymond James Financial Inc. now owns 3,407,608 shares of the electronics maker’s stock worth $179,206,000 after purchasing an additional 1,641,558 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Corning by 1.6% in the second quarter. Vanguard Group Inc. now owns 97,952,109 shares of the electronics maker’s stock worth $5,151,301,000 after purchasing an additional 1,582,895 shares during the period. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Edward A. Schlesinger sold 21,104 shares of the firm’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $104.55, for a total transaction of $2,206,423.20. Following the transaction, the chief financial officer directly owned 54,780 shares of the company’s stock, valued at approximately $5,727,249. This trade represents a 27.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric S. Musser sold 25,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider directly owned 19,926 shares of the company’s stock, valued at $2,191,860. The trade was a 55.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 46,148 shares of company stock worth $4,960,928 over the last three months. Corporate insiders own 0.40% of the company’s stock.

Corning Stock Performance

GLW opened at $109.79 on Thursday. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average is $91.61 and its 200-day moving average is $81.37. The stock has a market cap of $94.13 billion, a PE ratio of 59.67, a price-to-earnings-growth ratio of 1.95 and a beta of 1.13. Corning Incorporated has a twelve month low of $37.31 and a twelve month high of $117.30.

Corning (NYSE:GLW) last issued its quarterly earnings data on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.01. The business had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.35 billion. Corning had a return on equity of 18.72% and a net margin of 10.21%.The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.57 EPS. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. On average, analysts predict that Corning Incorporated will post 2.33 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on GLW. Susquehanna increased their target price on shares of Corning from $100.00 to $125.00 and gave the stock a “positive” rating in a report on Thursday, January 29th. Morgan Stanley raised their target price on shares of Corning from $98.00 to $103.00 and gave the stock an “equal weight” rating in a report on Thursday, January 29th. Oppenheimer set a $120.00 target price on Corning in a research note on Thursday, January 29th. Fox Advisors cut Corning from an “overweight” rating to an “equal weight” rating in a research report on Thursday, January 29th. Finally, Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a report on Friday, November 21st. Nine research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Corning has a consensus rating of “Moderate Buy” and an average target price of $112.36.

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.