Corning Incorporated $GLW Shares Sold by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. cut its stake in shares of Corning Incorporated (NYSE:GLW) by 3.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 365,354 shares of the electronics maker’s stock after selling 13,166 shares during the period. Corning comprises about 2.0% of Valley Wealth Managers Inc.’s holdings, making the stock its 10th biggest holding. Valley Wealth Managers Inc.’s holdings in Corning were worth $31,990,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in GLW. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in Corning during the third quarter worth $25,000. Strengthening Families & Communities LLC acquired a new stake in shares of Corning during the third quarter valued at about $27,000. Cornerstone Planning Group LLC increased its position in shares of Corning by 58.5% during the third quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker’s stock valued at $30,000 after acquiring an additional 124 shares during the last quarter. JPL Wealth Management LLC acquired a new stake in shares of Corning during the third quarter valued at about $33,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Corning during the fourth quarter valued at about $35,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Stock Up 10.7%

Shares of Corning stock opened at $206.99 on Tuesday. Corning Incorporated has a 52-week low of $46.34 and a 52-week high of $208.92. The company has a 50 day moving average of $152.13 and a 200 day moving average of $116.67. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $178.14 billion, a P/E ratio of 99.04, a P/E/G ratio of 2.68 and a beta of 1.14.

Corning (NYSE:GLW) last issued its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The company had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter in the previous year, the firm earned $0.54 earnings per share. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, research analysts forecast that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Friday, May 29th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.12 dividend on an annualized basis and a yield of 0.5%. Corning’s dividend payout ratio (DPR) is presently 53.59%.

Insiders Place Their Bets

In other Corning news, CEO Wendell P. Weeks sold 137,514 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $155.37, for a total transaction of $21,365,550.18. Following the sale, the chief executive officer owned 750,585 shares of the company’s stock, valued at approximately $116,618,391.45. This trade represents a 15.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP John Z. Zhang sold 1,531 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $133.75, for a total transaction of $204,771.25. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 140,628 shares of company stock valued at $21,774,117. 0.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Mizuho set a $145.00 price target on shares of Corning in a research report on Monday, February 23rd. UBS Group lifted their price target on shares of Corning from $179.00 to $223.00 and gave the company a “buy” rating in a research report on Thursday. Zacks Research raised shares of Corning from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th. Susquehanna raised their price objective on shares of Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research note on Wednesday, April 29th. Finally, HSBC reissued a “buy” rating and issued a $135.00 price objective on shares of Corning in a research note on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Corning has an average rating of “Moderate Buy” and an average target price of $172.15.

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.