Corning Incorporated $GLW Shares Sold by Levin Capital Strategies L.P.

Levin Capital Strategies L.P. lessened its position in Corning Incorporated (NYSE:GLW) by 62.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 5,784 shares of the electronics maker’s stock after selling 9,749 shares during the period. Levin Capital Strategies L.P.’s holdings in Corning were worth $474,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new position in shares of Corning during the 2nd quarter worth approximately $534,936,000. WCM Investment Management LLC acquired a new position in Corning during the third quarter worth $676,931,000. Voya Investment Management LLC raised its position in Corning by 748.0% in the third quarter. Voya Investment Management LLC now owns 3,169,741 shares of the electronics maker’s stock worth $260,014,000 after acquiring an additional 2,795,948 shares in the last quarter. Raymond James Financial Inc. lifted its holdings in Corning by 93.0% in the second quarter. Raymond James Financial Inc. now owns 3,407,608 shares of the electronics maker’s stock valued at $179,206,000 after acquiring an additional 1,641,558 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Corning by 1.6% during the 2nd 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 in the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Stock Performance

NYSE GLW opened at $132.25 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. Corning Incorporated has a fifty-two week low of $37.31 and a fifty-two week high of $136.82. The business has a fifty day moving average of $100.12 and a 200-day moving average of $86.32. The stock has a market cap of $113.46 billion, a price-to-earnings ratio of 71.88, a price-to-earnings-growth ratio of 2.26 and a beta of 1.13.

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

Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Friday, February 27th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. Corning’s dividend payout ratio is presently 60.87%.

Insider Activity

In other news, SVP Li Fang sold 9,797 shares of Corning stock in a transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP John Z. Zhang sold 1,531 shares of the stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $133.75, for a total value of $204,771.25. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 95,687 shares of company stock valued at $11,249,008 in the last 90 days. Insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on GLW shares. Barclays set a $100.00 price target on shares of Corning in a report on Thursday, January 29th. Citigroup increased their target price on shares of Corning from $102.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Fox Advisors cut Corning from an “overweight” rating to an “equal weight” rating in a report on Thursday, January 29th. Wolfe Research set a $130.00 price objective on Corning and gave the company an “outperform” rating in a research note on Tuesday, January 27th. Finally, HSBC reiterated a “buy” rating and set a $135.00 target price on shares of Corning in a research report on Friday, February 13th. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Corning presently has an average rating of “Moderate Buy” and an average target price of $114.25.

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.