Winthrop Partners WNY LLC Takes $1.54 Million Position in Corning Incorporated $GLW

Winthrop Partners WNY LLC bought a new position in Corning Incorporated (NYSE:GLW) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 17,604 shares of the electronics maker’s stock, valued at approximately $1,541,000.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Corning by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker’s stock valued at $8,693,247,000 after purchasing an additional 580,678 shares during the period. State Street Corp increased its holdings in Corning by 1.2% during the 3rd quarter. State Street Corp now owns 37,008,856 shares of the electronics maker’s stock worth $3,035,836,000 after purchasing an additional 439,883 shares during the period. Geode Capital Management LLC increased its holdings in Corning by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker’s stock worth $1,781,250,000 after purchasing an additional 517,067 shares during the period. Capital Research Global Investors raised its position in Corning by 52.7% during the 4th quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock valued at $1,478,959,000 after purchasing an additional 5,831,873 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in Corning by 30.3% during the 3rd quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock valued at $1,358,211,000 after purchasing an additional 3,848,540 shares in the last quarter. 69.80% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP John Z. Zhang sold 10,000 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $198.34, for a total value of $1,983,400.00. Following the sale, the vice president owned 5,138 shares in the company, valued at $1,019,070.92. This represents a 66.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Soumya Seetharam sold 20,000 shares of the stock in a transaction dated Monday, May 11th. The stock was 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 in the company, valued at $5,273,301.10. This represents a 43.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 160,655 shares of company stock worth $30,692,560. Company insiders own 0.25% of the company’s stock.

Corning Trading Up 0.2%

NYSE GLW opened at $195.28 on Friday. Corning Incorporated has a 12-month low of $49.97 and a 12-month high of $211.79. The company has a fifty day simple moving average of $180.63 and a two-hundred day simple moving average of $137.25. 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 market cap of $168.06 billion, a P/E ratio of 93.44, a P/E/G ratio of 2.79 and a beta of 1.15.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The business had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same period in the prior year, the company earned $0.54 earnings per share. The company’s revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, analysts forecast that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Dividend Announcement

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 issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, May 29th. Corning’s dividend payout ratio is 53.59%.

Analyst Ratings Changes

GLW has been the subject of a number of research reports. Oppenheimer upped their price objective 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. Mizuho boosted their price target on shares of Corning from $190.00 to $220.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. JPMorgan Chase & Co. upped their price target on shares of Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a report on Friday, May 15th. Finally, Zacks Research downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $178.31.

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.