Illinois Municipal Retirement Fund Sells 55,519 Shares of Corning Incorporated $GLW

Illinois Municipal Retirement Fund cut its stake in shares of Corning Incorporated (NYSE:GLW) by 18.8% in the 1st quarter, HoldingsChannel reports. The fund owned 239,160 shares of the electronics maker’s stock after selling 55,519 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Corning were worth $32,519,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Berbice Capital Management LLC bought a new position in shares of Corning during the fourth quarter worth approximately $26,000. Basepoint Wealth LLC bought a new stake in Corning in the 4th quarter valued at $26,000. MBM Wealth Consultants LLC acquired a new position in Corning in the 1st quarter valued at $42,000. Kemnay Advisory Services Inc. bought a new position in Corning during the 4th quarter worth $27,000. Finally, Litman Gregory Wealth Management LLC acquired a new stake in shares of Corning during the fourth quarter worth $31,000. Institutional investors own 69.80% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on GLW shares. Oppenheimer upped their price target on shares of Corning from $210.00 to $230.00 and gave the company an “outperform” rating in a research note on Tuesday, July 7th. Wall Street Zen lowered shares of Corning from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. JPMorgan Chase & Co. lifted their price target on shares of Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. UBS Group set a $243.00 price target on Corning in a research report on Monday, July 6th. Finally, Citigroup lifted their price objective on Corning from $225.00 to $240.00 and gave the company a “buy” rating in a report on Monday. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Corning has a consensus rating of “Moderate Buy” and a consensus target price of $194.69.

Corning Stock Performance

Shares of Corning stock opened at $174.44 on Thursday. The company has a 50 day moving average of $193.94 and a 200-day moving average of $152.35. Corning Incorporated has a 1-year low of $52.19 and a 1-year high of $271.78. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. The company has a market cap of $150.13 billion, a PE ratio of 83.46, a price-to-earnings-growth ratio of 2.47 and a beta of 1.09.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $4.30 billion. During the same period last year, the firm posted $0.54 earnings per share. The firm’s quarterly revenue was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, equities research analysts forecast that Corning Incorporated will post 3.18 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be paid a $0.28 dividend. The ex-dividend date 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 presently 53.59%.

More Corning News

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning is still being highlighted as a beneficiary of AI infrastructure spending, with articles pointing to its role in solving networking and connectivity bottlenecks and noting consensus Buy/Moderate Buy sentiment. Beyond the Foundry: 5 Infrastructure Stocks Tackling the AI Bottlenecks (GLW)
• Positive Sentiment: Technical traders are pointing to Corning testing its 80-day moving average, a level that has historically acted as a bullish support trendline, suggesting some upside potential after the recent breather. Corning Stock Signal Hints at Upside Potential Amid Breather
• Neutral Sentiment: Several previews and industry outlook pieces are keeping Corning in focus ahead of earnings, but they do not appear to change the investment thesis materially on their own. Corning earnings preview: What to expect
• Neutral Sentiment: Corning remains on industry watchlists alongside peers benefiting from fiber densification, cloud spending, and 5G deployment, which supports the longer-term growth case but is not a direct catalyst. 3 Communication Stocks Set to Soar on Inherent Sector Strength
• Negative Sentiment: Investor sentiment has been pressured by a report citing executive stock sales and earnings uncertainty, while another note argued GLW may not look cheap after its strong multi-year run, raising valuation concerns. Corning (GLW) Stock Plunges 8% Amid Executive Sales and Earnings Uncertainty Corning (GLW) Stock Could Be 7% Above Fair Value On AI Selloff

Insider Buying and Selling

In other news, CEO Wendell P. Weeks sold 100,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the completion of the transaction, the chief executive officer owned 908,353 shares of the company’s stock, valued at approximately $169,371,500.38. The trade was a 9.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $1,983,400.00. Following the sale, the vice president 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 SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 160,655 shares of company stock worth $30,692,560. 0.25% of the stock is owned by company insiders.

Corning Company 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.