PFG Investments LLC Sells 2,587 Shares of Corning Incorporated $GLW

PFG Investments LLC lowered its stake in Corning Incorporated (NYSE:GLW) by 3.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,256 shares of the electronics maker’s stock after selling 2,587 shares during the quarter. PFG Investments LLC’s holdings in Corning were worth $10,368,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in shares of Corning during the third quarter valued at about $25,000. Berbice Capital Management LLC acquired a new stake in shares of Corning in the 4th quarter valued at about $26,000. Basepoint Wealth LLC acquired a new stake in shares of Corning in the 4th quarter valued at about $26,000. Kemnay Advisory Services Inc. bought a new stake in Corning in the 4th quarter valued at about $27,000. Finally, Litman Gregory Wealth Management LLC bought a new stake in Corning in the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insider Activity at Corning

In other Corning news, SVP Jaymin Amin sold 27,395 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the transaction, the senior vice president directly owned 94,400 shares in the company, valued at approximately $18,138,016. This trade represents a 22.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John Z. Zhang sold 10,000 shares of Corning stock in a transaction 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 directly owned 5,138 shares in the company, valued at $1,019,070.92. This represents a 66.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 160,655 shares of company stock valued at $30,692,560 over the last 90 days. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

GLW has been the topic of several recent research reports. Susquehanna increased their price target on Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a report on Wednesday, April 29th. UBS Group boosted their price objective on Corning from $223.00 to $228.00 and gave the company a “buy” rating in a report on Friday, June 5th. Truist Financial upped their target price on Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a research report on Monday, June 22nd. Mizuho increased their target price on Corning from $220.00 to $270.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Barclays lifted their price target on shares of Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $186.46.

Corning Trading Down 0.3%

GLW opened at $196.12 on Friday. Corning Incorporated has a fifty-two week low of $51.32 and a fifty-two week high of $271.78. The firm has a market capitalization of $168.79 billion, a PE ratio of 93.84, a P/E/G ratio of 2.82 and a beta of 1.09. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. The company’s 50-day moving average is $190.59 and its 200 day moving average is $146.38.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The business had revenue of $4.34 billion during 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 company’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, research analysts predict that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Dividend Announcement

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

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.