First Trust Advisors LP Cuts Position in Corning Incorporated $GLW

First Trust Advisors LP reduced its stake in shares of Corning Incorporated (NYSE:GLW) by 42.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 409,159 shares of the electronics maker’s stock after selling 299,457 shares during the period. First Trust Advisors LP’s holdings in Corning were worth $55,633,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on GLW shares. Zacks Research cut Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Bank of America raised their price target on Corning from $223.00 to $243.00 and gave the company a “buy” rating in a research report on Monday, July 6th. Barclays boosted their price objective on shares of Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Weiss Ratings cut shares of Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Finally, Citigroup raised their target price on shares of Corning from $225.00 to $240.00 and gave the company a “buy” rating in a report on Monday, July 13th. Nine research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $194.69.

Insider Transactions at Corning

In other news, VP John Z. Zhang sold 10,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were 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 directly owned 5,138 shares of the company’s stock, valued at $1,019,070.92. The trade was a 66.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total value of $18,646,000.00. Following the completion of the transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 160,655 shares of company stock valued at $30,692,560 in the last quarter. Insiders own 0.25% of the company’s stock.

Corning Price Performance

GLW stock opened at $146.57 on Monday. The stock has a market capitalization of $126.14 billion, a price-to-earnings ratio of 70.13, a price-to-earnings-growth ratio of 1.93 and a beta of 1.09. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. Corning Incorporated has a 52-week low of $54.89 and a 52-week high of $271.78. The stock’s fifty day simple moving average is $188.01 and its 200-day simple moving average is $155.61.

Corning (NYSE:GLW) last released its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, topping 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 firm had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same period in the prior year, the business posted $0.54 earnings per share. The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Equities research analysts expect that Corning Incorporated will post 3.18 EPS for the current year.

Corning Announces Dividend

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 given a $0.28 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. Corning’s dividend payout ratio (DPR) is currently 53.59%.

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.