Corning Incorporated $GLW Shares Sold by Cornerstone Capital Inc.

Cornerstone Capital Inc. cut its stake in shares of Corning Incorporated (NYSE:GLW) by 2.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 646,572 shares of the electronics maker’s stock after selling 19,117 shares during the quarter. Corning comprises about 5.2% of Cornerstone Capital Inc.’s investment portfolio, making the stock its 2nd largest position. Cornerstone Capital Inc. owned approximately 0.08% of Corning worth $53,038,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GLW. Strengthening Families & Communities LLC acquired a new position in shares of Corning during the 3rd quarter worth approximately $27,000. Total Investment Management Inc. purchased a new position in Corning during the second quarter worth $28,000. Cornerstone Planning Group LLC increased its position in Corning by 58.5% during the third quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker’s stock worth $30,000 after buying an additional 124 shares in the last quarter. Financial Management Professionals Inc. raised its holdings in shares of Corning by 111.1% in the third quarter. Financial Management Professionals Inc. now owns 380 shares of the electronics maker’s stock worth $31,000 after acquiring an additional 200 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Corning in the second quarter valued at $36,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Stock Performance

Shares of NYSE:GLW opened at $145.08 on Tuesday. The business’s 50-day simple moving average is $102.97 and its 200 day simple moving average is $88.05. The company has a market cap of $124.47 billion, a P/E ratio of 78.85, a PEG ratio of 2.42 and a beta of 1.13. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.04 and a current ratio of 1.59. Corning Incorporated has a one year low of $37.31 and a one year high of $148.70.

Corning (NYSE:GLW) last posted its quarterly earnings data on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. The company had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.35 billion. Corning had a net margin of 10.21% and a return on equity of 18.72%. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.57 EPS. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. On average, sell-side analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Friday, February 27th will be issued a dividend of $0.28 per share. 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 Friday, February 27th. Corning’s dividend payout ratio is 60.87%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on GLW shares. Mizuho set a $145.00 target price on shares of Corning in a research note on Monday. Wall Street Zen raised shares of Corning from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Argus upped their price objective on shares of Corning from $68.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Morgan Stanley lifted their target price on shares of Corning from $103.00 to $127.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, UBS Group increased their price target on Corning from $125.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $121.25.

Insider Buying and Selling

In related news, EVP Lewis A. Steverson sold 15,366 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $130.22, for a total transaction of $2,000,960.52. Following the sale, the executive vice president owned 3,461 shares in the company, valued at $450,691.42. This represents a 81.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Li Fang sold 9,797 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $113.51, for a total value of $1,112,057.47. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 95,687 shares of company stock worth $11,249,008. Company insiders own 0.32% of the company’s stock.

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.