Corning Incorporated $GLW Stake Cut by London Co. of Virginia

London Co. of Virginia cut its holdings in Corning Incorporated (NYSE:GLW) by 34.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,795,637 shares of the electronics maker’s stock after selling 2,027,809 shares during the quarter. Corning comprises approximately 3.2% of London Co. of Virginia’s portfolio, making the stock its 3rd largest holding. London Co. of Virginia’s holdings in Corning were worth $516,096,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vivaldi Capital Management LP acquired a new stake in shares of Corning during the first quarter worth about $314,000. Healthcare of Ontario Pension Plan Trust Fund increased its position in Corning by 319.8% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 129,476 shares of the electronics maker’s stock valued at $17,605,000 after acquiring an additional 98,634 shares during the period. Rockbridge Investment Management LCC acquired a new position in Corning in the 1st quarter valued at about $217,000. GC Wealth Management RIA LLC raised its stake in Corning by 102.5% during the 1st quarter. GC Wealth Management RIA LLC now owns 8,517 shares of the electronics maker’s stock valued at $1,158,000 after acquiring an additional 4,312 shares during the last quarter. Finally, Compound Planning Inc. raised its stake in Corning by 8.2% during the 1st quarter. Compound Planning Inc. now owns 10,419 shares of the electronics maker’s stock valued at $1,417,000 after acquiring an additional 793 shares during the last quarter. 69.80% of the stock is owned by hedge funds and other institutional investors.

Corning Stock Performance

Shares of GLW stock opened at $146.57 on Friday. The stock has a fifty day moving average price of $188.01 and a 200 day moving average price of $155.14. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. The stock has a market cap of $126.14 billion, a PE ratio of 70.13, a P/E/G ratio of 1.93 and a beta of 1.09. Corning Incorporated has a 1 year low of $54.89 and a 1 year high of $271.78.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The company had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the prior year, the company earned $0.54 earnings per share. Corning’s revenue was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Sell-side analysts forecast that Corning Incorporated will post 3.18 earnings per share for the current fiscal year.

Corning Announces Dividend

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

Insider Transactions at Corning

In other Corning news, VP John Z. Zhang sold 10,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $1,019,070.92. This represents a 66.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Wendell P. Weeks sold 100,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer directly owned 908,353 shares in the company, valued at $169,371,500.38. This trade represents a 9.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 160,655 shares of company stock worth $30,692,560 in the last 90 days. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Weiss Ratings downgraded Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Truist Financial upped their price target on Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a research note on Monday, June 22nd. Susquehanna upped their price target on Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research note on Wednesday, April 29th. Barclays increased their price target on Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Finally, Oppenheimer lifted their price objective on shares of Corning from $210.00 to $230.00 and gave the company an “outperform” rating in a research report on Tuesday, July 7th. Nine research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $194.69.

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.