LGT Group Foundation Sells 79,599 Shares of Corning Incorporated $GLW

LGT Group Foundation reduced its stake in shares of Corning Incorporated (NYSE:GLW) by 20.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 313,564 shares of the electronics maker’s stock after selling 79,599 shares during the period. LGT Group Foundation’s holdings in Corning were worth $26,063,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Strengthening Families & Communities LLC purchased a new position in Corning during the third quarter valued at $27,000. Cornerstone Planning Group LLC boosted its holdings in shares of Corning by 58.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker’s stock valued at $30,000 after purchasing an additional 124 shares during the last quarter. Financial Management Professionals Inc. boosted its holdings in shares of Corning by 111.1% during the 3rd quarter. Financial Management Professionals Inc. now owns 380 shares of the electronics maker’s stock valued at $31,000 after purchasing an additional 200 shares during the last quarter. RMG Wealth Management LLC grew its position in shares of Corning by 125.0% during the third quarter. RMG Wealth Management LLC now owns 450 shares of the electronics maker’s stock valued at $38,000 after purchasing an additional 250 shares in the last quarter. Finally, Bayforest Capital Ltd bought a new stake in shares of Corning in the third quarter worth about $39,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Insider Activity at Corning

In other Corning news, EVP Lewis A. Steverson sold 15,366 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $130.22, for a total transaction of $2,000,960.52. Following the transaction, the executive vice president owned 3,461 shares in the company, valued at $450,691.42. The trade was a 81.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Eric S. Musser sold 25,000 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $110.00, for a total transaction of $2,750,000.00. Following the completion of the sale, the insider directly owned 19,926 shares in the company, valued at approximately $2,191,860. This represents a 55.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 233,201 shares of company stock valued at $32,614,558 over the last three months. Corporate insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on GLW shares. Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 21st. HSBC reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Corning in a research note on Friday, February 13th. Oppenheimer set a $120.00 target price on Corning in a research report on Thursday, January 29th. Susquehanna raised their target price on shares of Corning from $100.00 to $125.00 and gave the company a “positive” rating in a report on Thursday, January 29th. Finally, Mizuho set a $145.00 price target on shares of Corning in a research report on Monday, February 23rd. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $125.42.

Corning Trading Down 8.6%

GLW opened at $123.21 on Monday. The stock has a 50-day moving average of $113.50 and a 200 day moving average of $93.20. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.62. Corning Incorporated has a 12 month low of $37.31 and a 12 month high of $162.10. The firm has a market cap of $105.71 billion, a P/E ratio of 66.96, a P/E/G ratio of 2.13 and a beta of 1.04.

Corning (NYSE:GLW) last issued its quarterly earnings data on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. The business had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.35 billion. Corning had a return on equity of 18.72% and a net margin of 10.21%.The company’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.57 earnings per share. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. As a group, research analysts forecast that Corning Incorporated will post 2.33 EPS for the current year.

Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Friday, February 27th will be given a $0.28 dividend. The ex-dividend date is Friday, February 27th. This represents a $1.12 dividend on an annualized basis and a yield of 0.9%. Corning’s dividend payout ratio (DPR) is currently 60.87%.

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.