Corning Incorporated $GLW Stock: Hosking Partners LLP Reduces Position

Hosking Partners LLP cut its stake in shares of Corning Incorporated (NYSE:GLW) by 1.5% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 276,103 shares of the electronics maker’s stock after selling 4,339 shares during the period. Corning makes up approximately 1.5% of Hosking Partners LLP’s holdings, making the stock its 24th largest holding. Hosking Partners LLP’s holdings in Corning were worth $42,454,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Atwood & Palmer Inc. acquired a new stake in Corning in the second quarter valued at approximately $26,000. Rogco LP purchased a new stake in shares of Corning during the second quarter valued at approximately $27,000. Western Pacific Wealth Management LP purchased a new stake in shares of Corning during the third quarter valued at approximately $25,000. Toth Financial Advisory Corp lifted its position in shares of Corning by 130.7% during the third quarter. Toth Financial Advisory Corp now owns 173 shares of the electronics maker’s stock worth $27,000 after purchasing an additional 98 shares in the last quarter. Finally, Cornerstone Financial Management LLC lifted its position in shares of Corning by 63.3% during the second quarter. Cornerstone Financial Management LLC now owns 196 shares of the electronics maker’s stock worth $50,000 after purchasing an additional 76 shares in the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Analysts Set New Price Targets

GLW has been the subject of several analyst reports. The Goldman Sachs Group restated an “outperform” rating on shares of Corning in a research note on Tuesday, September 15th. Bank of America lowered their price target on shares of Corning from $243.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, July 29th. JPMorgan Chase & Co. dropped their price target on shares of Corning from $170.00 to $165.00 and set a “neutral” rating on the stock in a research note on Wednesday. Morgan Stanley cut their price objective on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Finally, Barclays cut their price objective on shares of Corning from $180.00 to $129.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $177.25.

Corning Trading Up 2.2%

Shares of GLW opened at $135.15 on Thursday. The company has a market capitalization of $116.42 billion, a P/E ratio of 61.71, a P/E/G ratio of 1.67 and a beta of 1.13. Corning Incorporated has a one year low of $77.39 and a one year high of $271.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. The stock has a 50-day moving average price of $152.49 and a 200 day moving average price of $168.76.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.02. Corning had a return on equity of 20.09% and a net margin of 11.20%. The company had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.63 billion. During the same period in the previous year, the business earned $0.60 EPS. Corning’s revenue for the quarter was up 17.1% compared to the same quarter last year. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Sell-side analysts forecast that Corning Incorporated will post 3.29 EPS for the current fiscal year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 13th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Friday, November 13th. Corning’s dividend payout ratio is 51.14%.

Insider Activity at Corning

In other news, EVP Lewis Steverson sold 13,100 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $151.29, for a total transaction of $1,981,899.00. Following the completion of the sale, the executive vice president owned 15,052 shares of the company’s stock, valued at approximately $2,277,217.08. This trade represents a 46.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.25% of the company’s stock.

About Corning

Corning Incorporated (NYSE: GLW) is a technology company that develops and manufactures specialty glass, ceramics and optical-fiber products. Its materials and engineering expertise support communications networks, consumer electronics, automotive systems, life sciences and other industrial applications.

The company’s products include optical fiber, cable and connectivity solutions used in telecommunications infrastructure; glass substrates for televisions, computer monitors and other displays; durable cover glass for mobile devices; emissions-control components for vehicles; laboratory glassware and consumables; and specialized glass and ceramic materials for scientific, industrial and semiconductor applications.

Founded in 1851 and headquartered in Corning, New York, the company serves customers through operations and facilities across North America, Europe, Asia and other international markets.