Corning Incorporated $GLW Position Trimmed by Mustico Financial Group Inc.

Mustico Financial Group Inc. decreased its holdings in Corning Incorporated (NYSE:GLW) by 82.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,682 shares of the electronics maker’s stock after selling 22,221 shares during the period. Corning comprises 0.4% of Mustico Financial Group Inc.’s portfolio, making the stock its 20th largest holding. Mustico Financial Group Inc.’s holdings in Corning were worth $637,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Brighton Jones LLC grew its position in Corning by 46.0% during the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock valued at $319,000 after purchasing an additional 2,114 shares in the last quarter. Retirement Planning Co of New England Inc. purchased a new stake in Corning in the 1st quarter worth approximately $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Corning by 9.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock valued at $2,962,000 after buying an additional 5,522 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of Corning during the 2nd quarter valued at $401,000. Finally, Schnieders Capital Management LLC. purchased a new position in shares of Corning during the 2nd quarter valued at $266,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Oppenheimer upped their price target on shares of Corning from $210.00 to $230.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Weiss Ratings downgraded Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Zacks Research lowered Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Barclays raised their price target on Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Finally, Truist Financial lifted their price target on Corning from $149.00 to $205.00 and gave the company a “hold” rating in a report on Monday, June 22nd. Nine analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, Corning has a consensus rating of “Moderate Buy” and a consensus price target of $194.69.

Corning Trading Down 6.1%

Corning stock opened at $146.57 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. The company has a market capitalization of $126.14 billion, a price-to-earnings ratio of 70.13, a PEG ratio of 1.93 and a beta of 1.09. Corning Incorporated has a one year low of $54.89 and a one year high of $271.78. The company’s fifty day moving average price is $188.01 and its two-hundred day moving average price is $155.14.

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 period last year, the company earned $0.54 earnings per share. The business’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. On average, analysts forecast that Corning Incorporated will post 3.18 earnings per share for the current fiscal year.

Corning Announces Dividend

The business 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 dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio (DPR) 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 that occurred on Monday, May 11th. The stock was sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the completion of 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 available through the SEC website. Also, SVP Michaune D. Tillman sold 3,260 shares of the stock in a transaction that occurred 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 transaction, the senior vice president owned 10,174 shares in the company, valued at approximately $2,106,221.48. This trade represents a 24.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 160,655 shares of company stock worth $30,692,560. 0.25% of the stock is currently owned by company insiders.

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.