Portside Wealth Group LLC Trims Position in Corning Incorporated $GLW

Portside Wealth Group LLC decreased its holdings in shares of Corning Incorporated (NYSE:GLW) by 31.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,683 shares of the electronics maker’s stock after selling 8,745 shares during the quarter. Portside Wealth Group LLC’s holdings in Corning were worth $1,533,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in GLW. Brighton Jones LLC increased its stake in shares of Corning by 46.0% during the 4th quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock valued at $319,000 after acquiring an additional 2,114 shares during the last quarter. Retirement Planning Co of New England Inc. acquired a new position in Corning during the first quarter worth approximately $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Corning by 9.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock worth $2,962,000 after purchasing an additional 5,522 shares during the period. Sivia Capital Partners LLC purchased a new position in Corning during the second quarter worth approximately $401,000. Finally, Ameritas Advisory Services LLC acquired a new position in shares of Corning in the 2nd quarter valued at $127,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Corning news, insider Eric S. Musser sold 25,000 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $110.00, for a total value of $2,750,000.00. Following the completion of the transaction, the insider directly owned 19,926 shares of the company’s stock, valued at $2,191,860. This represents a 55.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Edward A. Schlesinger sold 21,104 shares of Corning stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $104.55, for a total value of $2,206,423.20. Following the sale, the chief financial officer directly owned 54,780 shares in the company, valued at approximately $5,727,249. The trade was a 27.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 46,148 shares of company stock worth $4,960,928 in the last quarter. 0.40% of the stock is currently owned by company insiders.

Corning Stock Down 2.7%

NYSE GLW opened at $109.79 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. Corning Incorporated has a fifty-two week low of $37.31 and a fifty-two week high of $117.30. The business has a 50 day moving average price of $91.61 and a two-hundred day moving average price of $81.37. The stock has a market cap of $94.13 billion, a PE ratio of 59.67, a P/E/G ratio of 1.95 and a beta of 1.13.

Corning (NYSE:GLW) last posted its earnings results on Wednesday, January 28th. The electronics maker reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.01. The business had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.35 billion. Corning had a net margin of 10.21% and a return on equity of 18.72%. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.57 earnings per share. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. As a group, sell-side analysts predict that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GLW. JPMorgan Chase & Co. increased their target price on Corning from $100.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 28th. Argus raised their price objective on Corning from $68.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Weiss Ratings cut Corning from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, January 27th. Wolfe Research set a $130.00 price target on shares of Corning and gave the company an “outperform” rating in a report on Tuesday, January 27th. Finally, Wall Street Zen raised shares of Corning from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Nine analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Corning currently has an average rating of “Moderate Buy” and an average target price of $112.36.

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.