Bank of Nova Scotia Sells 16,225 Shares of Corning Incorporated $GLW

Bank of Nova Scotia decreased its stake in shares of Corning Incorporated (NYSE:GLW) by 13.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 108,225 shares of the electronics maker’s stock after selling 16,225 shares during the quarter. Bank of Nova Scotia’s holdings in Corning were worth $14,715,000 at the end of the most recent quarter.

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

Insider Activity at Corning

In related news, CEO Wendell P. Weeks sold 100,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total value of $18,646,000.00. Following the completion of the sale, the chief executive officer owned 908,353 shares in the company, valued at $169,371,500.38. This represents a 9.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP John Z. Zhang sold 10,000 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $198.34, for a total value of $1,983,400.00. Following the sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 160,655 shares of company stock valued at $30,692,560 over the last 90 days. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on GLW shares. Zacks Research lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Truist Financial boosted their price target on Corning from $149.00 to $205.00 and gave the company a “hold” rating in a research note on Monday, June 22nd. Wall Street Zen upgraded shares of Corning from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. JPMorgan Chase & Co. raised their price objective on shares of Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, UBS Group set a $243.00 price objective on Corning in a research report on Monday, July 6th. Nine research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, Corning presently has an average rating of “Moderate Buy” and an average target price of $194.69.

Corning Trading Down 6.1%

Shares of GLW stock opened at $146.57 on Friday. Corning Incorporated has a twelve month low of $54.89 and a twelve month high of $271.78. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. The stock has a market cap of $126.14 billion, a price-to-earnings ratio of 70.13, a PEG ratio of 1.93 and a beta of 1.09. The company’s 50-day moving average price is $188.01 and its 200-day moving average price is $155.14.

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

Corning Dividend Announcement

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