Corning Incorporated $GLW Shares Sold by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. lessened its stake in shares of Corning Incorporated (NYSE:GLW) by 16.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 306,483 shares of the electronics maker’s stock after selling 58,871 shares during the quarter. Corning comprises approximately 2.7% of Valley Wealth Managers Inc.’s holdings, making the stock its 3rd largest position. Valley Wealth Managers Inc.’s holdings in Corning were worth $41,672,000 as of its most recent SEC filing.

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

Corning Stock Performance

Shares of NYSE GLW opened at $154.47 on Friday. The firm has a market capitalization of $132.94 billion, a price-to-earnings ratio of 73.91, a PEG ratio of 2.03 and a beta of 1.09. Corning Incorporated has a one year low of $53.29 and a one year high of $271.78. The business has a fifty day simple moving average of $192.81 and a 200 day simple moving average of $152.85. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last posted 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. Corning had a net margin of 11.09% and a return on equity of 19.45%. The firm had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter in the previous year, the company earned $0.54 earnings per share. The business’s 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. Sell-side analysts expect that Corning Incorporated will post 3.18 EPS for the current year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be paid a $0.28 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. Corning’s payout ratio is presently 53.59%.

Insider Transactions at Corning

In other news, CEO Wendell P. Weeks sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total value of $18,646,000.00. Following the sale, the chief executive officer directly owned 908,353 shares in the company, valued at approximately $169,371,500.38. This represents a 9.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Michaune D. Tillman sold 3,260 shares of the 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 completion of the transaction, the senior vice president directly owned 10,174 shares of the company’s stock, valued at approximately $2,106,221.48. The trade was a 24.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 160,655 shares of company stock valued at $30,692,560. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Morgan Stanley set a $180.00 price objective on Corning in a research report on Friday, May 8th. Barclays raised their target price on Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. Bank of America upped their price target on Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a report on Monday, July 6th. Finally, Zacks Research cut Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Corning presently has a consensus rating of “Moderate Buy” and an average target price of $194.69.

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.