Verity & Verity LLC Sells 19,591 Shares of Corning Incorporated $GLW

Verity & Verity LLC trimmed its position in Corning Incorporated (NYSE:GLW) by 6.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 304,608 shares of the electronics maker’s stock after selling 19,591 shares during the quarter. Corning accounts for approximately 2.1% of Verity & Verity LLC’s investment portfolio, making the stock its 14th biggest holding. Verity & Verity LLC’s holdings in Corning were worth $26,671,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of GLW. Capital Research Global Investors bought a new stake in shares of Corning in the third quarter valued at about $907,164,000. Norges Bank bought a new stake in shares of Corning in the fourth quarter valued at about $921,435,000. WCM Investment Management LLC bought a new stake in shares of Corning in the third quarter valued at about $676,931,000. Wellington Management Group LLP lifted its holdings in shares of Corning by 30.3% in the third quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock valued at $1,358,211,000 after purchasing an additional 3,848,540 shares in the last quarter. Finally, Polar Capital Holdings Plc lifted its holdings in shares of Corning by 141.2% in the third quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock valued at $329,035,000 after purchasing an additional 2,348,125 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Corning news, 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 transaction of $1,983,400.00. Following the transaction, the vice president owned 5,138 shares of the company’s stock, valued at $1,019,070.92. The trade was a 66.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michaune D. Tillman sold 3,260 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $207.02, for a total value of $674,885.20. Following the transaction, the senior vice president directly owned 10,174 shares in the company, valued at approximately $2,106,221.48. This trade represents a 24.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 60,655 shares of company stock worth $12,046,561 in the last three months. 0.25% of the stock is owned by corporate insiders.

Corning Price Performance

Shares of NYSE GLW opened at $181.37 on Friday. The business’s 50 day moving average price is $167.47 and its two-hundred day moving average price is $126.60. The company has a market cap of $156.09 billion, a PE ratio of 86.78, a price-to-earnings-growth ratio of 2.59 and a beta of 1.14. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. Corning Incorporated has a twelve month low of $48.88 and a twelve month high of $211.79.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The firm had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The business’s revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, analysts predict that Corning Incorporated will post 3.19 EPS for the current year.

Corning Dividend Announcement

The firm 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. This represents a $1.12 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Friday, May 29th. Corning’s payout ratio is 53.59%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on GLW shares. JPMorgan Chase & Co. boosted their price target on Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. UBS Group boosted their price target on Corning from $179.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, May 7th. HSBC reiterated a “buy” rating and set a $135.00 target price on shares of Corning in a report on Friday, February 13th. Bank of America upped their target price on Corning from $155.00 to $186.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Finally, Morgan Stanley set a $180.00 target price on Corning in a report on Friday, May 8th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Corning has a consensus rating of “Moderate Buy” and an average target price of $177.92.

Corning 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.