Greenland Capital Management LP Sells 8,396 Shares of Corning Incorporated $GLW

Greenland Capital Management LP lowered its stake in Corning Incorporated (NYSE:GLW) by 79.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 2,208 shares of the electronics maker’s stock after selling 8,396 shares during the period. Greenland Capital Management LP’s holdings in Corning were worth $564,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of GLW. Norges Bank bought a new stake in shares of Corning during the fourth quarter worth approximately $921,435,000. Bank of New York Mellon Corp bought a new position in shares of Corning during the second quarter worth approximately $1,510,911,000. Capital Research Global Investors increased its stake in shares of Corning by 52.7% during the fourth quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock worth $1,478,959,000 after purchasing an additional 5,831,873 shares during the period. Legal & General Group Plc acquired a new stake in Corning during the 2nd quarter worth approximately $1,212,283,000. Finally, Wellington Management Group LLP lifted its holdings in Corning by 50.9% during the 2nd quarter. Wellington Management Group LLP now owns 13,174,194 shares of the electronics maker’s stock worth $3,365,084,000 after purchasing an additional 4,446,514 shares during the last quarter. 69.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GLW. Bank of America upped their price objective on Corning from $223.00 to $243.00 and gave the company a “buy” rating in a report on Monday, July 6th. Oppenheimer reduced their target price on Corning from $230.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. Mizuho decreased their price target on Corning from $270.00 to $210.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th. Morgan Stanley dropped their price target on Corning from $180.00 to $165.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 29th. Finally, Wall Street Zen cut shares of Corning from a “buy” rating to a “hold” rating in a research report on Monday, August 24th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Corning currently has an average rating of “Moderate Buy” and an average price target of $174.08.

Corning Stock Down 0.1%

NYSE GLW opened at $154.22 on Tuesday. The business has a fifty day moving average price of $162.71 and a two-hundred day moving average price of $165.56. The stock has a market capitalization of $132.84 billion, a PE ratio of 70.42, a PEG ratio of 1.98 and a beta of 1.16. Corning Incorporated has a fifty-two week low of $70.06 and a fifty-two week high of $271.78. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24.

Corning (NYSE:GLW) last issued its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.02. Corning had a return on equity of 20.09% and a net margin of 11.20%.The company had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.63 billion. During the same quarter last year, the company posted $0.60 EPS. The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities analysts expect that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Dividend Announcement

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. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 annualized dividend and a yield of 0.7%. Corning’s dividend payout ratio (DPR) is 51.14%.

Insider Transactions at Corning

In other Corning news, EVP Lewis Steverson sold 13,100 shares of Corning stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $151.29, for a total value of $1,981,899.00. Following the transaction, the executive vice president owned 15,052 shares in the company, valued at $2,277,217.08. The trade was a 46.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.25% of the stock is currently owned by corporate 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.