Cannell & Spears LLC Has $9.89 Million Stake in Corning Incorporated $GLW

Cannell & Spears LLC reduced its holdings in shares of Corning Incorporated (NYSE:GLW) by 17.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 72,767 shares of the electronics maker’s stock after selling 15,720 shares during the quarter. Cannell & Spears LLC’s holdings in Corning were worth $9,894,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Berbice Capital Management LLC acquired a new stake in Corning during the 4th quarter valued at $26,000. Basepoint Wealth LLC acquired a new position in shares of Corning in the fourth quarter valued at $26,000. Kemnay Advisory Services Inc. bought a new position in shares of Corning in the fourth quarter valued at about $27,000. Litman Gregory Wealth Management LLC acquired a new stake in shares of Corning during the 4th quarter worth about $31,000. Finally, Evolution Wealth Management Inc. grew its stake in Corning by 58.8% in the 4th quarter. Evolution Wealth Management Inc. now owns 381 shares of the electronics maker’s stock valued at $33,000 after buying an additional 141 shares during the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on GLW shares. Truist Financial increased their price target on shares of Corning from $149.00 to $205.00 and gave the company a “hold” rating in a report on Monday, June 22nd. Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Oppenheimer increased their target price on Corning from $210.00 to $230.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Wall Street Zen raised Corning from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. Finally, Morgan Stanley set a $180.00 price target on Corning in a research note on Friday, May 8th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $194.69.

Corning Trading Down 6.1%

Shares of GLW stock opened at $146.57 on Friday. 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 $126.14 billion, a P/E ratio of 70.13, a price-to-earnings-growth ratio of 2.05 and a beta of 1.09. The stock has a 50 day simple moving average of $188.01 and a 200 day simple moving average of $155.14. Corning Incorporated has a 1 year low of $54.89 and a 1 year high of $271.78.

Corning (NYSE:GLW) last posted its quarterly earnings data 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 firm had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The company’s revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the company earned $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, research analysts predict that Corning Incorporated will post 3.18 earnings per share for the current fiscal year.

Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be given a $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. Corning’s dividend payout ratio (DPR) is presently 53.59%.

Insiders Place Their Bets

In related news, SVP Michaune D. Tillman sold 3,260 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $207.02, for a total value of $674,885.20. Following the completion of the transaction, the senior vice president owned 10,174 shares of the company’s stock, valued at $2,106,221.48. The trade was a 24.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 transaction of $4,124,600.00. Following the sale, the senior vice president owned 25,570 shares in the company, valued at $5,273,301.10. The trade was a 43.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 160,655 shares of company stock valued at $30,692,560 over the last 90 days. 0.25% of the stock is owned by company insiders.

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.