Mayflower Financial Advisors LLC Sells 6,416 Shares of Corning Incorporated $GLW

Mayflower Financial Advisors LLC cut its holdings in Corning Incorporated (NYSE:GLW) by 36.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,427 shares of the electronics maker’s stock after selling 6,416 shares during the quarter. Mayflower Financial Advisors LLC’s holdings in Corning were worth $1,554,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Capital Research Global Investors acquired a new stake in shares of Corning in the 3rd quarter valued at approximately $907,164,000. Norges Bank bought a new stake in shares of Corning during the 4th quarter valued at approximately $921,435,000. Wellington Management Group LLP increased its position in Corning by 30.3% during the 3rd quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock worth $1,358,211,000 after purchasing an additional 3,848,540 shares in the last quarter. Polar Capital Holdings Plc increased its position in Corning by 141.2% during the 3rd quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock worth $329,035,000 after purchasing an additional 2,348,125 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Corning by 102.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,562,644 shares of the electronics maker’s stock valued at $399,505,000 after purchasing an additional 2,304,676 shares during the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insider Buying and Selling

In related news, SVP Soumya Seetharam sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $206.23, for a total value of $4,124,600.00. Following the sale, the senior vice president directly owned 25,570 shares in the company, valued at $5,273,301.10. This represents a 43.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Jaymin Amin sold 27,395 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the sale, the senior vice president directly owned 94,400 shares of the company’s stock, valued at $18,138,016. This represents a 22.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 160,655 shares of company stock valued at $30,692,560 over the last 90 days. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GLW. Morgan Stanley set a $180.00 target price on shares of Corning in a research note on Friday, May 8th. Bank of America increased their price target on Corning from $155.00 to $186.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Susquehanna raised their price objective on Corning from $125.00 to $180.00 and gave the company a “positive” rating in a report on Wednesday, April 29th. Wall Street Zen lowered Corning from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Finally, JPMorgan Chase & Co. upped their target price on Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $182.62.

Corning Stock Performance

NYSE GLW opened at $255.79 on Tuesday. The company has a market capitalization of $220.14 billion, a price-to-earnings ratio of 122.39, a PEG ratio of 3.16 and a beta of 1.15. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. Corning Incorporated has a twelve month low of $51.32 and a twelve month high of $258.80. The stock has a fifty day simple moving average of $186.49 and a 200 day simple moving average of $143.26.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The firm had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same period in the previous year, the business earned $0.54 EPS. The business’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. Sell-side analysts expect that Corning Incorporated will post 3.19 EPS for the current year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s payout ratio is currently 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.