Randolph Co Inc Sells 404,117 Shares of Corning Incorporated $GLW

Randolph Co Inc reduced its stake in Corning Incorporated (NYSE:GLW) by 52.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 365,646 shares of the electronics maker’s stock after selling 404,117 shares during the quarter. Corning makes up approximately 4.7% of Randolph Co Inc’s investment portfolio, making the stock its 4th largest position. Randolph Co Inc’s holdings in Corning were worth $49,717,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in shares of Corning in the third quarter valued at $25,000. Berbice Capital Management LLC acquired a new stake in shares of Corning in the 4th quarter valued at $26,000. Basepoint Wealth LLC acquired a new stake in Corning in the fourth quarter valued at $26,000. Kemnay Advisory Services Inc. purchased a new stake in Corning during the fourth quarter worth approximately $27,000. Finally, Litman Gregory Wealth Management LLC purchased a new stake in shares of Corning during the 4th quarter worth approximately $31,000. 69.80% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Corning

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Mizuho raised its price target on Corning to $270 from $220 and kept an outperform rating, signaling further upside from recent levels and reinforcing bullish sentiment around the stock. Mizuho raises Corning price target
• Positive Sentiment: Recent commentary highlights Corning’s strength in data center growth, which is supporting demand for its optical communications and specialty glass products and helping explain the stock’s move to record highs.
• Positive Sentiment: Corning’s addition to the Russell Growth indexes could broaden ownership among growth-focused funds and ETFs, potentially creating incremental demand for shares. Corning joins Russell Growth Indexes
• Positive Sentiment: Investors also remain focused on Corning’s recent dividend-related momentum and strong stock performance, which has kept the name on market screens for momentum and income buyers. Corning sets date for new dividend
• Neutral Sentiment: Analyst coverage updates and general commentary from recent market articles suggest Corning remains a closely watched large-cap technology materials name, but no major new operational change was disclosed in those notes. Analysts offer insights on Corning
• Negative Sentiment: Some recent coverage warns that after a steep multi-month advance, valuation and execution risks are increasing, which could limit near-term upside or trigger profit-taking.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Bank of America upped their target price on Corning from $155.00 to $186.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Zacks Research downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Barclays boosted their price target on shares of Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Citigroup increased their price target on shares of Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, Mizuho lifted their price objective on Corning from $220.00 to $270.00 and gave the company an “outperform” rating in a report on Wednesday. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $186.46.

Corning Stock Down 13.6%

Shares of NYSE:GLW opened at $220.72 on Thursday. Corning Incorporated has a 52-week low of $51.32 and a 52-week high of $271.78. The company has a market capitalization of $189.96 billion, a P/E ratio of 105.61, a P/E/G ratio of 3.65 and a beta of 1.09. The stock’s fifty day simple moving average is $189.43 and its 200-day simple moving average is $145.27. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last issued its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The business had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, equities research analysts forecast that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be issued a $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a yield of 0.5%. Corning’s payout ratio is 53.59%.

Insider Transactions at Corning

In related news, CEO Wendell P. Weeks sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the completion of the transaction, the chief executive officer owned 908,353 shares of the company’s stock, valued at approximately $169,371,500.38. This represents a 9.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP John Z. Zhang sold 10,000 shares of the company’s stock in a transaction on Monday, May 11th. The stock was 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 of the company’s stock, valued at approximately $1,019,070.92. The trade was a 66.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 160,655 shares of company stock valued at $30,692,560 in the last quarter. Insiders own 0.25% of the company’s stock.

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.