Corning Incorporated $GLW Position Cut by Lafayette Investments Inc.

Lafayette Investments Inc. reduced its holdings in Corning Incorporated (NYSE:GLW) by 54.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,102 shares of the electronics maker’s stock after selling 20,769 shares during the quarter. Lafayette Investments Inc.’s holdings in Corning were worth $2,325,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Corning by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker’s stock worth $8,693,247,000 after purchasing an additional 580,678 shares in the last quarter. State Street Corp raised its stake in shares of Corning by 1.2% during the third quarter. State Street Corp now owns 37,008,856 shares of the electronics maker’s stock valued at $3,035,836,000 after purchasing an additional 439,883 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Corning by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker’s stock valued at $1,781,250,000 after purchasing an additional 517,067 shares in the last quarter. Capital Research Global Investors lifted its holdings in Corning by 52.7% in the fourth quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock worth $1,478,959,000 after purchasing an additional 5,831,873 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in Corning by 30.3% in the third quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock worth $1,358,211,000 after purchasing an additional 3,848,540 shares during the period. Institutional investors and hedge funds own 69.80% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Citigroup raised their target price on shares of Corning from $175.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Zacks Research lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Barclays increased their price objective on shares of Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Susquehanna raised their price objective on shares of Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research note on Wednesday, April 29th. Finally, Oppenheimer boosted their target price on Corning from $120.00 to $210.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Corning currently has a consensus rating of “Moderate Buy” and a consensus price target of $186.46.

Insider Buying and Selling

In other news, SVP Soumya Seetharam sold 20,000 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the completion of the sale, the senior vice president directly owned 25,570 shares of the company’s stock, valued at $5,273,301.10. This trade represents a 43.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Wendell P. Weeks sold 100,000 shares of Corning stock in a transaction 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 completion of the transaction, the chief executive officer owned 908,353 shares in the company, valued at $169,371,500.38. The trade was a 9.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 160,655 shares of company stock valued at $30,692,560 in the last three months. Insiders own 0.25% of the company’s stock.

Corning Price Performance

NYSE:GLW opened at $196.12 on Friday. The business’s 50-day moving average price is $190.59 and its 200 day moving average price is $146.38. The firm has a market cap of $168.79 billion, a P/E ratio of 93.84, a PEG ratio of 2.82 and a beta of 1.09. Corning Incorporated has a 52-week low of $51.32 and a 52-week high of $271.78. 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 (NYSE:GLW) last issued its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, beating 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 company had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same period in the prior year, the company earned $0.54 EPS. Corning’s revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, sell-side analysts predict that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be issued a $0.28 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. Corning’s dividend payout ratio is currently 53.59%.

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.