Corning Incorporated $GLW Holdings Trimmed by London Co. of Virginia

London Co. of Virginia lowered its stake in Corning Incorporated (NYSE:GLW) by 34.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,795,637 shares of the electronics maker’s stock after selling 2,027,809 shares during the period. Corning comprises 3.2% of London Co. of Virginia’s investment portfolio, making the stock its 3rd biggest position. London Co. of Virginia owned approximately 0.44% of Corning worth $516,096,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in GLW. Berbice Capital Management LLC purchased a new stake in shares of Corning during the fourth quarter worth approximately $26,000. Basepoint Wealth LLC acquired a new stake in Corning in the fourth quarter valued at approximately $26,000. Kemnay Advisory Services Inc. purchased a new position in Corning in the fourth quarter worth approximately $27,000. Litman Gregory Wealth Management LLC purchased a new position in Corning in the fourth quarter worth approximately $31,000. Finally, Evolution Wealth Management Inc. grew its holdings in Corning by 58.8% during the 4th quarter. Evolution Wealth Management Inc. now owns 381 shares of the electronics maker’s stock worth $33,000 after acquiring an additional 141 shares in the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Corning Trading Down 6.1%

Shares of Corning stock opened at $146.57 on Friday. The company has a fifty day simple moving average of $188.01 and a 200-day simple moving average of $155.14. Corning Incorporated has a 12-month low of $54.89 and a 12-month high of $271.78. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. The stock has a market cap of $126.14 billion, a price-to-earnings ratio of 70.13, a PEG ratio of 1.93 and a beta of 1.09.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $4.30 billion. During the same period last year, the firm posted $0.54 EPS. The company’s revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities analysts forecast that Corning Incorporated will post 3.18 EPS for the current fiscal year.

Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. Corning’s dividend payout ratio (DPR) is presently 53.59%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on GLW shares. Truist Financial increased their price objective on shares of Corning from $149.00 to $205.00 and gave the company a “hold” rating in a research report on Monday, June 22nd. Oppenheimer lifted their price objective on shares of Corning from $210.00 to $230.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Wall Street Zen upgraded shares of Corning from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Morgan Stanley set a $180.00 target price on Corning in a report on Friday, May 8th. Finally, Mizuho raised their price target on Corning from $220.00 to $270.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Nine investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, Corning has an average rating of “Moderate Buy” and an average price target of $194.69.

Insider Buying and Selling at Corning

In related news, VP John Z. Zhang sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the transaction, the vice president owned 5,138 shares in the company, valued at $1,019,070.92. This trade represents a 66.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Soumya Seetharam sold 20,000 shares of the firm’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 transaction, the senior vice president owned 25,570 shares in the company, valued at $5,273,301.10. This represents a 43.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 160,655 shares of company stock valued at $30,692,560. 0.25% of the stock is owned by insiders.

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.