The Manufacturers Life Insurance Company Sells 41,084 Shares of Corning Incorporated $GLW

The Manufacturers Life Insurance Company decreased its position in Corning Incorporated (NYSE:GLW) by 8.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 418,884 shares of the electronics maker’s stock after selling 41,084 shares during the period. The Manufacturers Life Insurance Company’s holdings in Corning were worth $56,956,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC raised its holdings in Corning by 46.0% in the 4th quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock worth $319,000 after acquiring an additional 2,114 shares during the last quarter. Retirement Planning Co of New England Inc. bought a new stake in shares of Corning in the 1st quarter worth $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Corning by 9.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock worth $2,962,000 after purchasing an additional 5,522 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of Corning during the second quarter valued at $401,000. Finally, Schnieders Capital Management LLC. purchased a new stake in shares of Corning during the second quarter valued at $266,000. 69.80% of the stock is currently owned by institutional investors.

Corning Price Performance

Shares of Corning stock opened at $124.06 on Thursday. The stock’s 50-day simple moving average is $185.16 and its 200-day simple moving average is $156.53. The company has a market capitalization of $106.77 billion, a price-to-earnings ratio of 56.65, a PEG ratio of 1.66 and a beta of 1.09. Corning Incorporated has a 52 week low of $61.44 and a 52 week high of $271.78. The company has a quick ratio of 1.06, a current ratio of 1.81 and a debt-to-equity ratio of 0.59.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.02. The business had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, analysts expect that Corning Incorporated will post 3.18 earnings per share for the current fiscal year.

Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio (DPR) is presently 53.59%.

Insider Activity at Corning

In other Corning news, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction on Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the sale, the senior vice president directly owned 10,174 shares in the company, valued at approximately $2,106,221.48. The trade was a 24.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Soumya Seetharam sold 20,000 shares of the business’s stock in a transaction on 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 completion of the sale, the senior vice president owned 25,570 shares in the company, valued at approximately $5,273,301.10. The trade was a 43.89% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 160,655 shares of company stock valued at $30,692,560 in the last ninety days. Corporate insiders own 0.25% of the company’s stock.

Key Corning News

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning reported second-quarter revenue of $4.74 billion, up 17% year over year, while core EPS rose 30% to $0.78, exceeding the $0.76 consensus estimate. Corning Q2 results
• Positive Sentiment: Optical Communications sales increased 32% to $2.07 billion, led by a 65% gain in Enterprise Networks as generative-AI products continued to grow rapidly. Solar sales also climbed 90%, supporting revenue, margins and free cash flow. Corning beats Q2 estimates
• Positive Sentiment: Management highlighted demand from AI data centers and its Springboard plan, which is intended to accelerate sales and profitability. Corning’s fiber products are benefiting from the shift toward higher-bandwidth data-center networks. GLW AI growth plan
• Neutral Sentiment: Citigroup maintained a Buy rating but reduced its price target from $240 to $220. JPMorgan lowered its target from $200 to $170 and kept a Neutral rating, indicating analysts still see potential upside but have moderated expectations. Analyst target changes
• Negative Sentiment: Third-quarter revenue guidance of $4.9 billion to $5.0 billion was viewed as roughly in line with, rather than above, Wall Street’s $5.0 billion expectation. Although EPS guidance of $0.85-$0.89 exceeded the consensus midpoint, investors wanted a stronger outlook after the stock’s prior AI-driven rally. Corning guidance reaction
• Negative Sentiment: The guidance disappointment triggered a broad selloff in optical and AI infrastructure stocks. Analysts and market commentators also cited valuation concerns and a possible rotation away from recent AI winners, making the earnings beat insufficient to support the share price. Corning AI trade and guidance

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Morgan Stanley lowered their target price on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Oppenheimer dropped their target price on shares of Corning from $230.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday. Zacks Research downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Wall Street Zen upgraded shares of Corning from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Finally, JPMorgan Chase & Co. lowered their price target on Corning from $200.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday. Nine analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $176.38.

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.