Public Employees Retirement System of Ohio Sells 17,116 Shares of Corning Incorporated $GLW

Public Employees Retirement System of Ohio lowered its holdings in Corning Incorporated (NYSE:GLW) by 6.2% during the 1st quarter, Holdings Channel reports. The firm owned 259,978 shares of the electronics maker’s stock after selling 17,116 shares during the period. Public Employees Retirement System of Ohio’s holdings in Corning were worth $35,349,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Corning during the 4th quarter worth $921,435,000. Capital Research Global Investors boosted its holdings in shares of Corning by 52.7% in the 4th quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock worth $1,478,959,000 after buying an additional 5,831,873 shares during the last quarter. Polar Capital Holdings Plc grew its position in Corning by 141.2% during the third quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock valued at $329,035,000 after buying an additional 2,348,125 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Corning by 102.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,562,644 shares of the electronics maker’s stock valued at $399,505,000 after buying an additional 2,304,676 shares during the period. Finally, Evergreen Quality Fund GP Ltd. purchased a new stake in Corning during the fourth quarter worth about $185,312,000. Institutional investors own 69.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on GLW shares. Barclays lifted their price objective on shares of Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Morgan Stanley set a $180.00 target price on shares of Corning in a research report on Friday, May 8th. Zacks Research lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Citigroup lifted their price target on shares of Corning from $225.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Finally, Wall Street Zen upgraded Corning from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $194.69.

Corning Trading Down 6.1%

Shares of Corning stock opened at $146.57 on Friday. The stock has a market capitalization of $126.14 billion, a P/E ratio of 70.13, a P/E/G ratio of 2.05 and a beta of 1.09. Corning Incorporated has a 52-week low of $54.89 and a 52-week high of $271.78. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. The stock’s 50-day simple moving average is $188.01 and its 200 day simple moving average is $155.14.

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

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio is presently 53.59%.

Insider Buying and Selling

In related 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 transaction, 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 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 business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the sale, the vice president directly owned 5,138 shares in the company, valued at $1,019,070.92. The trade was a 66.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 160,655 shares of company stock worth $30,692,560 in the last 90 days. 0.25% of the stock is currently 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.