Arrowstreet Capital Limited Partnership Sells 2,401,896 Shares of Corning Incorporated $GLW

Arrowstreet Capital Limited Partnership reduced its position in Corning Incorporated (NYSE:GLW) by 52.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,160,748 shares of the electronics maker’s stock after selling 2,401,896 shares during the period. Arrowstreet Capital Limited Partnership owned 0.25% of Corning worth $293,797,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of GLW. Merit Financial Group LLC grew its stake in Corning by 16.9% during the fourth quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker’s stock worth $3,940,000 after buying an additional 6,493 shares in the last quarter. Security National Bank lifted its holdings in Corning by 340.4% in the fourth quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock valued at $6,350,000 after buying an additional 56,056 shares during the period. Wealthfront Advisers LLC boosted its position in shares of Corning by 36.2% during the 1st quarter. Wealthfront Advisers LLC now owns 92,425 shares of the electronics maker’s stock worth $12,567,000 after purchasing an additional 24,589 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Corning by 1.2% during the first quarter. Principal Financial Group Inc. now owns 893,451 shares of the electronics maker’s stock worth $121,483,000 after purchasing an additional 10,591 shares during the period. Finally, Three Seasons Wealth LLC acquired a new stake in shares of Corning in the 4th quarter worth about $1,750,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Oppenheimer boosted their price objective on shares of Corning from $210.00 to $230.00 and gave the company an “outperform” rating in a research report on Tuesday, July 7th. Weiss Ratings restated a “buy (b-)” rating on shares of Corning in a report on Friday, May 15th. Truist Financial lifted their target price on shares of Corning from $149.00 to $205.00 and gave the company a “hold” rating in a research note on Monday, June 22nd. Finally, Citigroup boosted their price target on shares of Corning from $225.00 to $240.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $194.69.

Insider Buying and Selling at Corning

In other news, SVP Soumya Seetharam sold 20,000 shares of the business’s stock in a transaction dated 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP John Z. Zhang sold 10,000 shares of Corning stock in a transaction 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 transaction, the vice president directly owned 5,138 shares of the company’s stock, valued at approximately $1,019,070.92. This represents a 66.06% 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 Stock Down 6.1%

NYSE:GLW opened at $146.57 on Friday. Corning Incorporated has a 1-year low of $54.89 and a 1-year high of $271.78. The firm has a market capitalization of $126.14 billion, a P/E ratio of 70.13, a PEG ratio of 2.05 and a beta of 1.09. 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’s fifty day moving average price is $188.01 and its 200-day moving average price is $155.14.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.01. The company had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. Corning’s revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, equities research analysts anticipate that Corning Incorporated will post 3.18 EPS for the current year.

Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be paid a $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. Corning’s payout ratio is currently 53.59%.

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.