Moors & Cabot Inc. Decreases Holdings in Corning Incorporated $GLW

Moors & Cabot Inc. decreased its holdings in Corning Incorporated (NYSE:GLW) by 13.1% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 48,957 shares of the electronics maker’s stock after selling 7,399 shares during the period. Moors & Cabot Inc.’s holdings in Corning were worth $4,016,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Capital Research Global Investors purchased a new stake in Corning during the third quarter valued at about $907,164,000. Norges Bank purchased a new position in shares of Corning in the second quarter worth about $534,936,000. WCM Investment Management LLC purchased a new position in shares of Corning in the third quarter worth about $676,931,000. Wellington Management Group LLP lifted its stake in shares of Corning by 30.3% in the 3rd quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock valued at $1,358,211,000 after acquiring an additional 3,848,540 shares during the last quarter. Finally, Voya Investment Management LLC boosted its holdings in Corning by 748.0% during the 3rd quarter. Voya Investment Management LLC now owns 3,169,741 shares of the electronics maker’s stock valued at $260,014,000 after acquiring an additional 2,795,948 shares during the period. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Insider Activity

In other news, CEO Wendell P. Weeks sold 137,514 shares of the stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $155.37, for a total value of $21,365,550.18. Following the completion of the transaction, the chief executive officer owned 750,585 shares of the company’s stock, valued at approximately $116,618,391.45. This represents a 15.48% 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, CFO Edward A. Schlesinger sold 21,104 shares of the firm’s stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $104.55, for a total value of $2,206,423.20. Following the completion of the transaction, the chief financial officer owned 54,780 shares of the company’s stock, valued at approximately $5,727,249. The trade was a 27.81% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 233,201 shares of company stock worth $32,614,558. Company insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

GLW has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price target on Corning from $100.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 28th. Susquehanna increased their price objective on Corning from $100.00 to $125.00 and gave the company a “positive” rating in a research note on Thursday, January 29th. Mizuho set a $145.00 target price on shares of Corning in a research note on Monday, February 23rd. UBS Group increased their price target on shares of Corning from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Finally, Wolfe Research set a $130.00 price objective on shares of Corning and gave the company an “outperform” rating in a research report on Tuesday, January 27th. Eleven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $131.75.

Corning Price Performance

GLW opened at $132.14 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.04 and a current ratio of 1.59. The stock has a market capitalization of $113.37 billion, a PE ratio of 71.81, a price-to-earnings-growth ratio of 2.04 and a beta of 1.04. The stock’s 50 day moving average price is $118.61 and its 200-day moving average price is $95.93. Corning Incorporated has a 52-week low of $37.31 and a 52-week high of $162.10.

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

Corning Dividend Announcement

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