Victory Capital Management Inc. Trims Position in Corning Incorporated $GLW

Victory Capital Management Inc. cut its position in shares of Corning Incorporated (NYSE:GLW) by 20.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,221,812 shares of the electronics maker’s stock after selling 832,287 shares during the quarter. Victory Capital Management Inc. owned about 0.38% of Corning worth $264,124,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. Lansforsakringar Fondforvaltning AB publ grew its holdings in shares of Corning by 4.9% in the third quarter. Lansforsakringar Fondforvaltning AB publ now owns 261,749 shares of the electronics maker’s stock valued at $21,471,000 after acquiring an additional 12,297 shares in the last quarter. Hartline Investment Corp grew its stake in Corning by 113.2% in the 3rd quarter. Hartline Investment Corp now owns 295,362 shares of the electronics maker’s stock valued at $24,229,000 after purchasing an additional 156,843 shares during the period. Vanguard Group Inc. increased 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 valued at $5,151,301,000 after purchasing an additional 1,582,895 shares during the last quarter. Schroder Investment Management Group boosted its holdings in shares of Corning by 638.0% in the 2nd quarter. Schroder Investment Management Group now owns 546,407 shares of the electronics maker’s stock worth $28,736,000 after buying an additional 472,365 shares during the last quarter. Finally, Caprock Group LLC bought a new position in Corning during the third quarter valued at about $3,355,000. 69.80% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Eric S. Musser sold 25,000 shares of Corning stock in a transaction dated Monday, February 2nd. The shares were 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. The trade was a 55.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Li Fang sold 9,797 shares of the stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $113.51, for a total transaction of $1,112,057.47. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 233,201 shares of company stock valued at $32,614,558. 0.32% of the stock is owned by insiders.

Corning Price Performance

Shares of NYSE GLW opened at $147.40 on Wednesday. The stock’s 50-day simple moving average is $110.82 and its two-hundred day simple moving average is $91.74. Corning Incorporated has a twelve month low of $37.31 and a twelve month high of $162.10. The firm has a market capitalization of $126.46 billion, a P/E ratio of 80.11, a P/E/G ratio of 2.73 and a beta of 1.05. 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 (NYSE:GLW) last announced its earnings results on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.01. The company had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.35 billion. Corning had a net margin of 10.21% and a return on equity of 18.72%. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.57 earnings per share. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. As a group, equities analysts anticipate that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Announces Dividend

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

Wall Street Analysts Forecast Growth

GLW has been the topic of a number of research analyst reports. Zacks Research cut shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 21st. Mizuho set a $145.00 price objective on Corning in a report on Monday, February 23rd. Barclays set a $100.00 target price on Corning in a research note on Thursday, January 29th. Susquehanna increased their price target on Corning from $100.00 to $125.00 and gave the stock a “positive” 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. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Corning currently has a consensus rating of “Moderate Buy” and an average target price of $125.42.

Corning 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.