Andra AP fonden Sells 21,800 Shares of Corning Incorporated $GLW

Andra AP fonden trimmed its position in shares of Corning Incorporated (NYSE:GLW) by 16.1% during the second quarter, Holdings Channel.com reports. The firm owned 113,950 shares of the electronics maker’s stock after selling 21,800 shares during the period. Andra AP fonden’s holdings in Corning were worth $29,106,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Herbst Group LLC bought a new stake in Corning during the second quarter worth $4,474,000. Principal Financial Group Inc. lifted its stake in Corning by 1.2% during the 1st quarter. Principal Financial Group Inc. now owns 893,451 shares of the electronics maker’s stock valued at $121,483,000 after acquiring an additional 10,591 shares in the last quarter. Wealthfront Advisers LLC grew its position in Corning by 36.2% in the 1st quarter. Wealthfront Advisers LLC now owns 92,425 shares of the electronics maker’s stock worth $12,567,000 after purchasing an additional 24,589 shares in the last quarter. Atlas Wealth LLC increased its position in shares of Corning by 137.8% during the first quarter. Atlas Wealth LLC now owns 12,076 shares of the electronics maker’s stock valued at $1,642,000 after acquiring an additional 6,998 shares during the last quarter. Finally, Silverlake Wealth Management LLC purchased a new stake in shares of Corning during the 2nd quarter valued at $1,872,000. 69.80% of the stock is currently owned by institutional investors.

Corning Trading Down 0.0%

Shares of GLW traded down $0.02 during mid-day trading on Tuesday, reaching $158.96. The company’s stock had a trading volume of 3,413,184 shares, compared to its average volume of 12,395,599. Corning Incorporated has a 52 week low of $77.05 and a 52 week high of $271.78. The stock has a market cap of $136.93 billion, a PE ratio of 72.66, a P/E/G ratio of 1.92 and a beta of 1.16. The company’s fifty day moving average price is $153.76 and its two-hundred day moving average price is $166.18. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59.

Corning (NYSE:GLW) last released its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.76 by $0.02. The company had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. The firm’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, analysts predict that Corning Incorporated will post 3.28 earnings per share for the current fiscal year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. Corning’s payout ratio is currently 51.14%.

Insider Buying and Selling at Corning

In other news, EVP Lewis Steverson sold 13,100 shares of the business’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $151.29, for a total value of $1,981,899.00. Following the completion of the sale, the executive vice president owned 15,052 shares of the company’s stock, valued at approximately $2,277,217.08. The trade was a 46.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Mizuho dropped their price objective on Corning from $210.00 to $180.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 15th. Weiss Ratings cut shares of Corning from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, August 21st. The Goldman Sachs Group reissued an “outperform” rating on shares of Corning in a report on Tuesday, September 15th. Barclays reduced their price target on shares of Corning from $180.00 to $129.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 29th. Finally, China Renaissance upgraded Corning from a “hold” rating to a “buy” rating and set a $238.00 target price for the company in a research report on Tuesday, September 8th. Twelve research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $176.50.

Corning Company Profile

Corning Incorporated (NYSE: GLW) is a global materials science and technology company that develops specialty glass, ceramics and optical fiber products. Founded in 1851 and headquartered in Corning, New York, the company combines expertise in glass science, ceramics science, optical physics and manufacturing to serve communications, consumer electronics, automotive, life sciences and other industrial markets.

Corning’s products include optical fiber, cable and hardware used in telecommunications networks; cover glass and other components for mobile devices, laptops and other electronics; display glass for televisions and computer monitors; emissions-control products for automobiles and trucks; laboratory vessels and equipment; and specialty glass and ceramic products for industrial, semiconductor and aerospace applications.

The company serves customers worldwide through manufacturing, research and commercial operations across North America, Europe and Asia.