Corning Incorporated $GLW Shares Sold by Mizuho Markets Americas LLC

Mizuho Markets Americas LLC trimmed its holdings in Corning Incorporated (NYSE:GLW) by 20.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 151,000 shares of the electronics maker’s stock after selling 40,000 shares during the quarter. Mizuho Markets Americas LLC’s holdings in Corning were worth $13,222,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of GLW. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in shares of Corning in the third quarter valued at about $25,000. Berbice Capital Management LLC purchased a new stake in shares of Corning in the fourth quarter valued at about $26,000. Strengthening Families & Communities LLC purchased a new stake in shares of Corning in the third quarter valued at about $27,000. Cornerstone Planning Group LLC grew its holdings in shares of Corning by 58.5% in the third quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker’s stock valued at $30,000 after purchasing an additional 124 shares during the period. Finally, JPL Wealth Management LLC purchased a new stake in shares of Corning in the third quarter valued at about $33,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. HSBC reissued a “buy” rating and issued a $135.00 price objective on shares of Corning in a report on Friday, February 13th. UBS Group increased their target price on shares of Corning from $179.00 to $223.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Susquehanna increased their target price on shares of Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research note on Wednesday, April 29th. Morgan Stanley set a $180.00 target price on shares of Corning in a research note on Friday, May 8th. Finally, Oppenheimer increased their target price on shares of Corning from $120.00 to $210.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. One research 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $177.92.

Corning Trading Up 1.0%

NYSE GLW opened at $193.83 on Friday. The firm has a 50 day simple moving average of $161.56 and a 200-day simple moving average of $123.01. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. Corning Incorporated has a one year low of $47.67 and a one year high of $211.79. The firm has a market cap of $166.82 billion, a price-to-earnings ratio of 92.74, a PEG ratio of 2.75 and a beta of 1.14.

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

Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. Corning’s dividend payout ratio (DPR) is presently 53.59%.

Insider Activity

In related 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 value of $21,365,550.18. Following the sale, the chief executive officer owned 750,585 shares of the company’s stock, valued at $116,618,391.45. This trade represents a 15.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michaune D. Tillman sold 3,260 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $207.02, for a total transaction of $674,885.20. Following the completion of the sale, the senior vice president directly owned 10,174 shares in the company, valued at approximately $2,106,221.48. This trade represents a 24.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 170,774 shares of company stock worth $28,148,435 in the last ninety days. 0.25% of the stock is owned by insiders.

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.