WCM Investment Management LLC Sells 117,901 Shares of Corning Incorporated $GLW

WCM Investment Management LLC lessened its stake in Corning Incorporated (NYSE:GLW) by 1.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,106,869 shares of the electronics maker’s stock after selling 117,901 shares during the quarter. Corning accounts for approximately 2.4% of WCM Investment Management LLC’s holdings, making the stock its 15th biggest position. WCM Investment Management LLC owned approximately 0.94% of Corning worth $1,042,138,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Berbice Capital Management LLC bought a new stake in Corning in the 4th quarter worth about $26,000. Basepoint Wealth LLC bought a new stake in shares of Corning in the fourth quarter worth approximately $26,000. Kemnay Advisory Services Inc. purchased a new position in shares of Corning during the fourth quarter valued at approximately $27,000. Litman Gregory Wealth Management LLC purchased a new position in shares of Corning during the fourth quarter valued at approximately $31,000. Finally, Evolution Wealth Management Inc. lifted its position in Corning by 58.8% during the fourth quarter. Evolution Wealth Management Inc. now owns 381 shares of the electronics maker’s stock valued at $33,000 after purchasing an additional 141 shares during the period. 69.80% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on GLW shares. Citigroup boosted their target price on shares of Corning from $225.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Oppenheimer upped their price objective on Corning from $210.00 to $230.00 and gave the company an “outperform” rating in a research report on Tuesday, July 7th. Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. JPMorgan Chase & Co. boosted their price target on Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Finally, Zacks Research lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $194.69.

Insider Buying and Selling

In other news, VP John Z. Zhang sold 10,000 shares of the company’s 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 of the company’s stock, valued at approximately $1,019,070.92. This represents a 66.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction dated 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 sale, the chief executive officer owned 908,353 shares of the company’s stock, valued at approximately $169,371,500.38. This trade represents a 9.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 160,655 shares of company stock valued at $30,692,560 over the last quarter. 0.25% of the stock is owned by company insiders.

Corning Price Performance

GLW stock opened at $154.47 on Monday. The company’s fifty day moving average price is $192.81 and its 200-day moving average price is $153.30. Corning Incorporated has a one year low of $53.29 and a one year high of $271.78. The company has a market capitalization of $132.94 billion, a PE ratio of 73.91, a price-to-earnings-growth ratio of 2.03 and a beta of 1.09. 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 (NYSE:GLW) last released its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. The business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. Corning’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities analysts anticipate that Corning Incorporated will post 3.18 EPS for the current fiscal year.

Corning Announces Dividend

The company also recently announced 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. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Monday, August 31st. 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.