Concentric Capital Strategies LP Lowers Stock Position in Corning Incorporated $GLW

Concentric Capital Strategies LP reduced its position in shares of Corning Incorporated (NYSE:GLW) by 4.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 142,805 shares of the electronics maker’s stock after selling 7,429 shares during the period. Concentric Capital Strategies LP’s holdings in Corning were worth $12,504,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Berbice Capital Management LLC purchased a new stake in Corning in the 4th quarter valued at about $26,000. Basepoint Wealth LLC purchased a new position in shares of Corning in the 4th quarter worth approximately $26,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in shares of Corning in the third quarter valued at approximately $25,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Corning during the fourth quarter valued at approximately $27,000. Finally, Litman Gregory Wealth Management LLC purchased a new stake in shares of Corning during the fourth quarter valued at approximately $31,000. 69.80% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Truist Financial boosted their price objective on Corning from $125.00 to $149.00 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. Zacks Research cut Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Barclays raised their price objective on shares of Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Bank of America lifted their price objective on shares of Corning from $155.00 to $186.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Finally, Oppenheimer increased their price objective on Corning from $120.00 to $210.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $178.31.

Corning Price Performance

Shares of NYSE GLW opened at $174.98 on Thursday. 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 Incorporated has a fifty-two week low of $49.97 and a fifty-two week high of $211.79. The stock has a market cap of $150.59 billion, a PE ratio of 83.72, a price-to-earnings-growth ratio of 2.54 and a beta of 1.15. The stock has a fifty day moving average of $179.09 and a 200-day moving average of $136.06.

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

Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders 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 dividend yield of 0.6%. The ex-dividend date is Friday, May 29th. Corning’s payout ratio is 53.59%.

Insider Buying and Selling at Corning

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer owned 908,353 shares of the company’s stock, valued at $169,371,500.38. The trade was a 9.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Soumya Seetharam sold 20,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $206.23, for a total value of $4,124,600.00. Following the transaction, the senior vice president directly owned 25,570 shares in the company, valued at approximately $5,273,301.10. This represents a 43.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 160,655 shares of company stock valued at $30,692,561 over the last quarter. Company 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.