Intact Investment Management Inc. Has $4.57 Million Position in Corning Incorporated $GLW

Intact Investment Management Inc. lessened its stake in shares of Corning Incorporated (NYSE:GLW) by 16.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 52,200 shares of the electronics maker’s stock after selling 10,600 shares during the period. Intact Investment Management Inc.’s holdings in Corning were worth $4,571,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in GLW. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in shares of Corning during the 3rd quarter worth about $25,000. Strengthening Families & Communities LLC bought a new position in shares of Corning during the 3rd quarter worth about $27,000. Cornerstone Planning Group LLC boosted its position in shares of Corning by 58.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker’s stock worth $30,000 after purchasing an additional 124 shares in the last quarter. JPL Wealth Management LLC bought a new position in shares of Corning during the 3rd quarter worth about $33,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Corning during the 4th quarter worth about $35,000. Institutional investors own 69.80% of the company’s stock.

Corning Price Performance

Corning stock opened at $160.41 on Tuesday. Corning Incorporated has a 52 week low of $44.33 and a 52 week high of $179.08. The company’s 50 day moving average price is $148.66 and its two-hundred day moving average price is $113.22. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. The stock has a market cap of $137.80 billion, a P/E ratio of 76.75, a P/E/G ratio of 2.26 and a beta of 1.14.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The firm had revenue of $4.35 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter last year, the firm earned $0.54 EPS. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities analysts predict that Corning Incorporated will post 3.17 earnings per share for the current year.

Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Friday, May 29th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. Corning’s dividend payout ratio (DPR) is currently 53.59%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on GLW shares. UBS Group increased their price objective on shares of Corning from $125.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. HSBC reissued a “buy” rating and set a $135.00 price objective on shares of Corning in a research report on Friday, February 13th. Fox Advisors cut shares of Corning from an “overweight” rating to an “equal weight” rating in a research report on Thursday, January 29th. Wolfe Research set a $130.00 price objective on shares of Corning and gave the stock an “outperform” rating in a research report on Tuesday, January 27th. Finally, Barclays raised their price target on shares of Corning from $100.00 to $149.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Corning currently has an average rating of “Moderate Buy” and an average target price of $150.31.

Insider Activity

In other Corning news, CEO Wendell P. Weeks sold 137,514 shares of Corning stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $155.37, for a total transaction of $21,365,550.18. Following the transaction, the chief executive officer owned 750,585 shares of the company’s stock, valued at $116,618,391.45. This trade represents a 15.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Avery H. Nelson III sold 6,262 shares of Corning stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $129.79, for a total transaction of $812,744.98. Following the transaction, the chief operating officer directly owned 61,371 shares in the company, valued at approximately $7,965,342.09. This represents a 9.26% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 187,053 shares of company stock worth $27,653,630. Corporate insiders own 0.25% 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.