Smithbridge Asset Management Inc. DE Has $517,000 Stock Holdings in Corning Incorporated $GLW

Smithbridge Asset Management Inc. DE trimmed its position in Corning Incorporated (NYSE:GLW) by 50.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,800 shares of the electronics maker’s stock after selling 3,800 shares during the quarter. Smithbridge Asset Management Inc. DE’s holdings in Corning were worth $517,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of GLW. Caldwell Trust Co grew its holdings in Corning by 0.5% during the first quarter. Caldwell Trust Co now owns 15,893 shares of the electronics maker’s stock worth $2,161,000 after purchasing an additional 74 shares during the period. KRS Capital Management LLC lifted its position in shares of Corning by 2.2% in the first quarter. KRS Capital Management LLC now owns 4,058 shares of the electronics maker’s stock valued at $552,000 after buying an additional 88 shares during the last quarter. Sheets Smith Wealth Management boosted its stake in shares of Corning by 2.1% during the 1st quarter. Sheets Smith Wealth Management now owns 4,450 shares of the electronics maker’s stock worth $605,000 after acquiring an additional 90 shares during the period. Beese Fulmer Investment Management Inc. boosted its stake in shares of Corning by 2.5% during the 4th quarter. Beese Fulmer Investment Management Inc. now owns 3,836 shares of the electronics maker’s stock worth $336,000 after acquiring an additional 92 shares during the period. Finally, 3Chopt Investment Partners LLC increased its holdings in shares of Corning by 1.0% during the 4th quarter. 3Chopt Investment Partners LLC now owns 10,248 shares of the electronics maker’s stock worth $897,000 after acquiring an additional 97 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on GLW. Bank of America increased their price target on Corning from $155.00 to $186.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Zacks Research downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Truist Financial increased their price objective on shares of Corning from $149.00 to $205.00 and gave the company a “hold” rating in a research report on Monday, June 22nd. Mizuho raised their target price on shares of Corning from $220.00 to $270.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Corning presently has a consensus rating of “Moderate Buy” and an average target price of $186.46.

Insider Activity at Corning

In other news, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the completion of the sale, the senior vice president directly owned 10,174 shares in the company, valued at approximately $2,106,221.48. The trade was a 24.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Wendell P. Weeks sold 100,000 shares of the business’s stock in a transaction that occurred on 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 disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 160,655 shares of company stock valued at $30,692,560. 0.25% of the stock is currently owned by company insiders.

Corning Stock Down 11.1%

GLW stock 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 company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. The stock has a market capitalization of $168.79 billion, a price-to-earnings ratio of 93.84, a PEG ratio of 3.16 and a beta of 1.09. The business’s fifty day moving average price is $190.04 and its two-hundred day moving average price is $146.03.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The business had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same period last year, the firm earned $0.54 earnings per share. Corning’s revenue for the quarter was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities analysts anticipate that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Dividend Announcement

The firm 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 dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. Corning’s dividend payout ratio (DPR) is currently 53.59%.

Corning News Summary

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Mizuho raised its price target on Corning to $270 from $220 and kept an outperform rating, signaling confidence that the AI/data-center buildout still supports further upside. Benzinga report on Mizuho price target hike
• Positive Sentiment: Several reports highlighted Corning’s exposure to AI-driven fiber demand, new hyperscaler deals, and margin improvement, which are helping explain why the stock has surged over the past year. Yahoo Finance article on Corning stock gains
• Positive Sentiment: Analyst and momentum coverage continues to describe Corning as a strong long-term momentum name, reinforcing the bullish narrative around secular growth in connectivity and data-center infrastructure. Zacks momentum article on Corning
• Neutral Sentiment: Commentary noted Corning has delivered an exceptional multi-year advance, which keeps the stock in focus for investors evaluating whether the valuation can be sustained after such a steep rally. MSN/Zacks momentum coverage
• Negative Sentiment: One article said Corning’s 13.6% single-day drop may reflect investor concerns that the AI fiber trade is cracking, though it could also simply be a pullback after a parabolic move. 247WallSt article on Corning drop
• Negative Sentiment: Risks remain from competition, China exposure, and consumer electronics weakness, which could limit how much of the AI-driven optimism translates into earnings growth. Yahoo Finance risk discussion

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.