Northwestern Mutual Wealth Management Co. Sells 59,199 Shares of Corning Incorporated $GLW

Northwestern Mutual Wealth Management Co. lowered its stake in shares of Corning Incorporated (NYSE:GLW) by 63.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,851 shares of the electronics maker’s stock after selling 59,199 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Corning were worth $2,964,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Patten & Patten Inc. TN boosted its holdings in Corning by 0.6% during the fourth quarter. Patten & Patten Inc. TN now owns 17,796 shares of the electronics maker’s stock worth $1,558,000 after buying an additional 100 shares during the last quarter. Joel Isaacson & Co. LLC boosted its holdings in Corning by 0.5% during the fourth quarter. Joel Isaacson & Co. LLC now owns 20,518 shares of the electronics maker’s stock worth $1,797,000 after buying an additional 102 shares during the last quarter. Angeles Wealth Management LLC boosted its holdings in Corning by 2.8% during the third quarter. Angeles Wealth Management LLC now owns 4,242 shares of the electronics maker’s stock worth $348,000 after buying an additional 116 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC boosted its holdings in Corning by 37.3% during the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 442 shares of the electronics maker’s stock worth $39,000 after buying an additional 120 shares during the last quarter. Finally, Cornerstone Planning Group LLC boosted its holdings 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 during the last quarter. Institutional investors own 69.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GLW. Bank of America raised their price target on Corning from $155.00 to $186.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Oppenheimer raised their price target on Corning from $120.00 to $210.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Fox Advisors lowered 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 target on Corning and gave the stock an “outperform” rating in a research report on Tuesday, January 27th. Finally, Susquehanna raised their price target on Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $177.92.

Insider Buying and Selling

In other Corning news, CEO Wendell P. Weeks sold 137,514 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The stock was 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. The trade was a 15.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP John Z. Zhang sold 10,000 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president directly owned 5,138 shares in the company, valued at $1,019,070.92. This trade represents a 66.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 170,774 shares of company stock worth $28,148,435 over the last 90 days. Company insiders own 0.25% of the company’s stock.

Corning Stock Down 0.1%

Shares of Corning stock opened at $193.83 on Tuesday. The business’s 50 day simple moving average is $162.85 and its 200 day simple moving average is $124.03. Corning Incorporated has a 52-week low of $47.67 and a 52-week high of $211.79. The firm has a market cap of $166.82 billion, a PE ratio of 92.74, a P/E/G ratio of 2.78 and a beta of 1.14. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61.

Corning (NYSE:GLW) last announced its 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. Corning had a return on equity of 19.45% and a net margin of 11.09%.The business had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter last year, the firm earned $0.54 EPS. Corning’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. On average, analysts predict that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Dividend Announcement

The business also recently declared 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 0.6%. Corning’s payout ratio is 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.