Corning Incorporated $GLW Shares Sold by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. reduced its holdings in shares of Corning Incorporated (NYSE:GLW) by 82.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,212 shares of the electronics maker’s stock after selling 148,394 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Corning were worth $2,642,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in Corning in the 2nd quarter valued at $534,936,000. WCM Investment Management LLC acquired a new position in shares of Corning during the third quarter worth about $676,931,000. Voya Investment Management LLC lifted its stake in shares of Corning by 748.0% during the third quarter. Voya Investment Management LLC now owns 3,169,741 shares of the electronics maker’s stock worth $260,014,000 after purchasing an additional 2,795,948 shares in the last quarter. Raymond James Financial Inc. boosted its position in shares of Corning by 93.0% in the second quarter. Raymond James Financial Inc. now owns 3,407,608 shares of the electronics maker’s stock worth $179,206,000 after buying an additional 1,641,558 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Corning by 1.6% in the second quarter. Vanguard Group Inc. now owns 97,952,109 shares of the electronics maker’s stock worth $5,151,301,000 after buying an additional 1,582,895 shares during the period. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GLW. HSBC reiterated a “buy” rating and set a $135.00 target price on shares of Corning in a report on Friday, February 13th. Mizuho set a $145.00 price target on Corning in a report on Monday, February 23rd. Fox Advisors downgraded shares of Corning from an “overweight” rating to an “equal weight” rating in a research report on Thursday, January 29th. JPMorgan Chase & Co. lifted their price objective on shares of Corning from $100.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. Finally, Susquehanna boosted their target price on shares of Corning from $100.00 to $125.00 and gave the stock a “positive” rating in a research report on Thursday, January 29th. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $125.42.

Insider Activity at Corning

In related news, CFO Edward A. Schlesinger sold 21,104 shares of the company’s stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $104.55, for a total transaction of $2,206,423.20. Following the sale, the chief financial officer directly owned 54,780 shares of the company’s stock, valued at approximately $5,727,249. This represents a 27.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Eric S. Musser sold 25,000 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $110.00, for a total value of $2,750,000.00. Following the transaction, the insider owned 19,926 shares in the company, valued at $2,191,860. This trade represents a 55.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 233,201 shares of company stock worth $32,614,558 over the last quarter. 0.32% of the stock is owned by corporate insiders.

Corning Price Performance

GLW opened at $136.14 on Wednesday. The company has a market capitalization of $116.80 billion, a P/E ratio of 73.99, a PEG ratio of 2.23 and a beta of 1.05. The company has a 50-day moving average of $115.25 and a 200-day moving average of $94.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.04 and a current ratio of 1.59. Corning Incorporated has a 1-year low of $37.31 and a 1-year high of $162.10.

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

Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Friday, February 27th will be paid a dividend of $0.28 per share. The ex-dividend date is Friday, February 27th. This represents a $1.12 annualized dividend and a yield of 0.8%. Corning’s dividend payout ratio is presently 60.87%.

About Corning

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.