Richard Bernstein Advisors LLC Sells 28,215 Shares of Corning Incorporated $GLW

Richard Bernstein Advisors LLC reduced its stake in shares of Corning Incorporated (NYSE:GLW) by 51.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,723 shares of the electronics maker’s stock after selling 28,215 shares during the quarter. Richard Bernstein Advisors LLC’s holdings in Corning were worth $2,192,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in GLW. Vanguard Group Inc. increased its holdings in Corning by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 98,702,639 shares of the electronics maker’s stock worth $8,096,577,000 after buying an additional 750,530 shares in the last quarter. State Street Corp raised its stake in Corning by 1.4% during the 2nd quarter. State Street Corp now owns 36,568,973 shares of the electronics maker’s stock valued at $1,923,162,000 after purchasing an additional 509,013 shares during the period. Geode Capital Management LLC raised its position in shares of Corning by 0.6% during the 2nd quarter. Geode Capital Management LLC now owns 19,443,525 shares of the electronics maker’s stock valued at $1,018,629,000 after buying an additional 112,739 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Corning by 8.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock valued at $724,432,000 after buying an additional 1,036,988 shares during the period. Finally, Capital Research Global Investors purchased a new position in shares of Corning during the third quarter valued at approximately $907,164,000. 69.80% of the stock is owned by institutional investors.

Insider Buying and Selling at Corning

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 value of $2,206,423.20. Following the completion of the sale, the chief financial officer owned 54,780 shares of the company’s stock, valued at $5,727,249. This trade represents a 27.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Eric S. Musser sold 25,000 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $110.00, for a total value 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 represents a 55.65% 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 233,201 shares of company stock valued at $32,614,558. 0.32% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. HSBC reaffirmed a “buy” rating and set a $135.00 target price on shares of Corning in a research report on Friday, February 13th. Fox Advisors cut shares of Corning from an “overweight” rating to an “equal weight” rating in a research report on Thursday, January 29th. Morgan Stanley upped their price objective on shares of Corning from $103.00 to $127.00 and gave the company an “equal weight” rating in a research note on Monday, February 23rd. Wolfe Research set a $130.00 target price on Corning and gave the stock an “outperform” rating in a research note on Tuesday, January 27th. Finally, Susquehanna increased their price target on Corning from $100.00 to $125.00 and gave the company a “positive” rating in a research report on Thursday, January 29th. 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, the company has a consensus rating of “Moderate Buy” and an average target price of $125.42.

Corning Trading Up 4.5%

Shares of GLW stock opened at $128.84 on Tuesday. Corning Incorporated has a twelve month low of $37.31 and a twelve month high of $162.10. The company has a market capitalization of $110.53 billion, a price-to-earnings ratio of 70.02, a PEG ratio of 2.13 and a beta of 1.04. The firm has a 50-day moving average price of $114.30 and a 200 day moving average price of $93.65. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.62.

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

Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, February 27th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, February 27th. This represents a $1.12 annualized dividend and a dividend yield of 0.9%. Corning’s dividend payout ratio is currently 60.87%.

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.