Corning Incorporated $GLW Stock Holdings Lowered by USA Financial Formulas

USA Financial Formulas cut its holdings in shares of Corning Incorporated (NYSE:GLW) by 39.6% in the 1st quarter, Holdings Channel reports. The firm owned 4,630 shares of the electronics maker’s stock after selling 3,039 shares during the period. USA Financial Formulas’ holdings in Corning were worth $630,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Trust Asset Management LLC boosted its holdings in Corning by 1.0% during the second quarter. Trust Asset Management LLC now owns 8,648 shares of the electronics maker’s stock worth $2,209,000 after buying an additional 85 shares in the last quarter. First Community Trust NA bought a new position in shares of Corning in the second quarter valued at $72,000. Regent Peak Wealth Advisors LLC lifted its position in shares of Corning by 2.0% during the 2nd quarter. Regent Peak Wealth Advisors LLC now owns 3,569 shares of the electronics maker’s stock valued at $912,000 after acquiring an additional 70 shares during the last quarter. Annex Advisory Services LLC acquired a new stake in shares of Corning during the 2nd quarter valued at $284,000. Finally, Tema ETFs LLC boosted its stake in shares of Corning by 10.5% during the 2nd quarter. Tema ETFs LLC now owns 13,723 shares of the electronics maker’s stock worth $3,505,000 after acquiring an additional 1,305 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors.

Insider Activity

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of Corning stock in a transaction dated 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 owned 908,353 shares of the company’s stock, valued at $169,371,500.38. The trade was a 9.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 completion of the transaction, the senior vice president owned 94,400 shares in the company, valued at $18,138,016. This represents a 22.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GLW has been the topic of a number of recent research reports. Wall Street Zen cut Corning from a “strong-buy” rating to a “buy” rating in a report on Sunday. UBS Group reaffirmed a “buy” rating and set a $196.00 target price on shares of Corning in a report on Wednesday, July 29th. Susquehanna increased their price target on Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research report on Wednesday, April 29th. Zacks Research cut Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Finally, Oppenheimer cut their price objective on Corning from $230.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. Eleven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $174.08.

Corning Trading Up 4.6%

NYSE GLW opened at $165.85 on Friday. The firm’s 50 day moving average price is $176.82 and its two-hundred day moving average price is $161.45. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. Corning Incorporated has a twelve month low of $63.37 and a twelve month high of $271.78. The stock has a market cap of $142.86 billion, a price-to-earnings ratio of 75.73, a PEG ratio of 2.12 and a beta of 1.14.

Corning (NYSE:GLW) last released its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. The company 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities analysts anticipate that Corning Incorporated will post 3.27 EPS for the current year.

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be given a dividend of $0.28 per share. 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 payout ratio is presently 51.14%.

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.