California Public Employees Retirement System Sells 543,498 Shares of Corning Incorporated $GLW

California Public Employees Retirement System decreased its stake in Corning Incorporated (NYSE:GLW) by 27.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,410,571 shares of the electronics maker’s stock after selling 543,498 shares during the quarter. California Public Employees Retirement System’s holdings in Corning were worth $191,795,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of GLW. Merit Financial Group LLC lifted its stake in Corning by 16.9% in the fourth quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker’s stock worth $3,940,000 after acquiring an additional 6,493 shares during the period. Security National Bank raised its holdings in shares of Corning by 340.4% in the 4th quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock valued at $6,350,000 after purchasing an additional 56,056 shares in the last quarter. Wealthfront Advisers LLC lifted its position in shares of Corning by 36.2% in the 1st quarter. Wealthfront Advisers LLC now owns 92,425 shares of the electronics maker’s stock worth $12,567,000 after purchasing an additional 24,589 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Corning by 1.2% during the first quarter. Principal Financial Group Inc. now owns 893,451 shares of the electronics maker’s stock valued at $121,483,000 after purchasing an additional 10,591 shares in the last quarter. Finally, Three Seasons Wealth LLC purchased a new position in shares of Corning in the 4th quarter valued at $1,750,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP John Z. Zhang sold 10,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $198.34, for a total value of $1,983,400.00. Following the completion of the sale, the vice president owned 5,138 shares of the company’s stock, valued at approximately $1,019,070.92. The trade was a 66.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Wendell P. Weeks sold 100,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at $169,371,500.38. This represents a 9.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 160,655 shares of company stock worth $30,692,560 in the last ninety days. 0.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have commented on GLW. Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. Truist Financial boosted their price objective on shares of Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a research note on Monday, June 22nd. Wall Street Zen raised shares of Corning from a “hold” rating to a “buy” rating in a research report on Saturday. Morgan Stanley set a $180.00 target price on shares of Corning in a research note on Friday, May 8th. Finally, Oppenheimer upped their price target on Corning from $210.00 to $230.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $194.69.

Corning Stock Performance

Shares of NYSE GLW opened at $154.47 on Friday. The stock has a market cap of $132.94 billion, a price-to-earnings ratio of 73.91, a PEG ratio of 2.03 and a beta of 1.09. The company has a 50 day simple moving average of $192.81 and a two-hundred day simple moving average of $152.85. Corning Incorporated has a 12 month low of $53.29 and a 12 month 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.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.01. The company had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period last year, the firm earned $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, analysts predict that Corning Incorporated will post 3.18 earnings per share for the current year.

Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio is presently 53.59%.

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.