Corning Incorporated $GLW Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC grew its holdings in shares of Corning Incorporated (NYSE:GLW) by 224.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,004,676 shares of the electronics maker’s stock after purchasing an additional 1,385,900 shares during the period. SG Americas Securities LLC owned approximately 0.23% of Corning worth $272,576,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in GLW. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in Corning during the third quarter valued at approximately $25,000. Berbice Capital Management LLC bought a new stake in Corning during the fourth quarter worth approximately $26,000. Basepoint Wealth LLC bought a new stake in Corning during the fourth quarter worth approximately $26,000. Kemnay Advisory Services Inc. acquired a new position in Corning in the fourth quarter worth approximately $27,000. Finally, Litman Gregory Wealth Management LLC acquired a new position in Corning in the fourth quarter worth approximately $31,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Trading Up 0.2%

Corning stock opened at $195.28 on Monday. The company has a 50 day moving average price of $180.63 and a 200 day moving average price of $137.63. Corning Incorporated has a 52 week low of $49.97 and a 52 week high of $211.79. 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 firm has a market capitalization of $168.06 billion, a price-to-earnings ratio of 93.44, a P/E/G ratio of 2.79 and a beta of 1.15.

Corning (NYSE:GLW) last posted its quarterly earnings data 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. Corning had a net margin of 11.09% and a return on equity of 19.45%. The firm had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same period in the previous year, the company posted $0.54 EPS. The company’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. Research analysts forecast that Corning Incorporated will post 3.19 EPS for the current year.

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be issued a dividend of $0.28 per share. The ex-dividend date is Friday, May 29th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.6%. Corning’s payout ratio is currently 53.59%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Barclays increased their price objective on Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Zacks Research cut Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. JPMorgan Chase & Co. boosted their target price on Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Citigroup upped their target price on Corning from $175.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $178.31.

Insider Buying and Selling at Corning

In related news, CEO Wendell P. Weeks sold 100,000 shares of the company’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 transaction, the chief executive officer directly 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jaymin Amin sold 27,395 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $192.14, for a total value of $5,263,675.30. Following the completion of the sale, the senior vice president directly owned 94,400 shares of the company’s stock, valued at approximately $18,138,016. This represents a 22.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 160,655 shares of company stock valued at $30,692,560 in the last ninety days. Company insiders own 0.25% of the company’s stock.

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.