Corning Incorporated $GLW Stock Position Decreased by Hendley & Co. Inc.

Hendley & Co. Inc. cut its stake in shares of Corning Incorporated (NYSE:GLW) by 60.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,675 shares of the electronics maker’s stock after selling 5,650 shares during the quarter. Hendley & Co. Inc.’s holdings in Corning were worth $322,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of GLW. Capital Research Global Investors bought a new stake in shares of Corning during the 3rd quarter worth $907,164,000. WCM Investment Management LLC bought a new stake in shares of Corning during the 3rd quarter worth $676,931,000. Wellington Management Group LLP boosted its stake in shares of Corning by 30.3% during the 3rd quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock worth $1,358,211,000 after acquiring an additional 3,848,540 shares in the last quarter. Polar Capital Holdings Plc boosted its stake in shares of Corning by 141.2% during the 3rd quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock worth $329,035,000 after acquiring an additional 2,348,125 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Corning during the 3rd quarter worth $185,221,000. 69.80% of the stock is owned by institutional investors.

Insider Transactions at Corning

In related news, VP John Z. Zhang sold 10,000 shares of Corning stock in a transaction on Monday, May 11th. The stock was sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the completion of the sale, the vice president owned 5,138 shares of the company’s stock, valued at approximately $1,019,070.92. This trade represents a 66.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Soumya Seetharam sold 20,000 shares of Corning stock in a transaction on Monday, May 11th. The shares were sold at an average price of $206.23, for a total value of $4,124,600.00. Following the sale, the senior vice president directly owned 25,570 shares of the company’s stock, valued at approximately $5,273,301.10. The trade was a 43.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 170,774 shares of company stock worth $28,148,435 in the last ninety days. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

GLW has been the subject of several research reports. Zacks Research raised Corning from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th. Citigroup raised their price objective on Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Bank of America raised their target price on Corning from $155.00 to $186.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Susquehanna raised their target price on Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. raised their target price on Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $177.92.

Corning Price Performance

GLW opened at $192.18 on Friday. The stock has a market cap of $165.40 billion, a price-to-earnings ratio of 91.95, a PEG ratio of 2.74 and a beta of 1.14. Corning Incorporated has a 1 year low of $47.40 and a 1 year high of $211.79. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. The stock has a fifty day moving average price of $156.22 and a 200 day moving average price of $119.68.

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

Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be given 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 0.6%. Corning’s dividend payout ratio (DPR) is presently 53.59%.

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.