NewEdge Advisors LLC Cuts Position in Corning Incorporated $GLW

NewEdge Advisors LLC decreased its position in Corning Incorporated (NYSE:GLW) by 12.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 109,894 shares of the electronics maker’s stock after selling 14,991 shares during the quarter. NewEdge Advisors LLC’s holdings in Corning were worth $14,942,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Berbice Capital Management LLC purchased a new position in shares of Corning in the fourth quarter valued at $26,000. Basepoint Wealth LLC bought a new position in Corning during the fourth quarter valued at $26,000. MBM Wealth Consultants LLC bought a new position in Corning during the first quarter valued at $42,000. Kemnay Advisory Services Inc. purchased a new position in shares of Corning in the 4th quarter worth $27,000. Finally, IMG Wealth Management Inc. bought a new stake in shares of Corning in the 1st quarter worth about $43,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

Corning Stock Performance

Corning stock opened at $165.65 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24. The firm has a market capitalization of $142.69 billion, a P/E ratio of 75.64, a price-to-earnings-growth ratio of 2.12 and a beta of 1.14. Corning Incorporated has a 1-year low of $63.37 and a 1-year high of $271.78. The company’s 50-day moving average is $179.73 and its 200 day moving average is $159.07.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.02. The business had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Research analysts forecast that Corning Incorporated will post 3.27 EPS for the current year.

Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio is 51.14%.

Analysts Set New Price Targets

Several analysts have recently issued reports on GLW shares. Susquehanna upped their target price on shares of Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research report on Wednesday, April 29th. Mizuho reduced their price objective on Corning from $270.00 to $210.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 29th. Truist Financial upgraded Corning from a “hold” rating to a “buy” rating and decreased their price objective for the company from $205.00 to $175.00 in a research report on Sunday, August 2nd. Weiss Ratings lowered Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, July 24th. Finally, Barclays dropped their target price on Corning from $180.00 to $129.00 and set an “equal weight” rating for the company in a report on Wednesday, July 29th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $174.08.

Insiders Place Their Bets

In other news, SVP Jaymin Amin sold 27,395 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $192.14, for a total value of $5,263,675.30. Following the transaction, the senior vice president directly owned 94,400 shares in the company, valued at approximately $18,138,016. This represents a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Michaune D. Tillman sold 3,260 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $207.02, for a total transaction of $674,885.20. Following the completion of the transaction, the senior vice president directly owned 10,174 shares in the company, valued at $2,106,221.48. This represents a 24.27% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 160,655 shares of company stock valued at $30,692,560. Insiders own 0.25% of the company’s stock.

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.