Flputnam Investment Management Co. Lowers Holdings in Corning Incorporated $GLW

Flputnam Investment Management Co. trimmed its holdings in Corning Incorporated (NYSE:GLW) by 6.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 150,139 shares of the electronics maker’s stock after selling 10,150 shares during the period. Flputnam Investment Management Co.’s holdings in Corning were worth $13,146,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in GLW. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in shares of Corning in the third quarter valued at about $25,000. Berbice Capital Management LLC purchased a new position in shares of Corning in the fourth quarter valued at about $26,000. Strengthening Families & Communities LLC purchased a new position in shares of Corning in the third quarter valued at about $27,000. Cornerstone Planning Group LLC lifted its position in shares of Corning by 58.5% in the third quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker’s stock valued at $30,000 after acquiring an additional 124 shares in the last quarter. Finally, JPL Wealth Management LLC purchased a new position in shares of Corning in the third quarter valued at about $33,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Corning

In other Corning news, SVP Jaymin Amin sold 27,395 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was 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 in the company, valued at $18,138,016. This represents a 22.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP John Z. Zhang sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $198.34, for a total value of $1,983,400.00. Following the sale, the vice president owned 5,138 shares in the company, valued at approximately $1,019,070.92. This trade represents a 66.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 198,169 shares of company stock valued at $33,412,111. Corporate insiders own 0.25% of the company’s stock.

Corning Price Performance

NYSE:GLW opened at $196.64 on Wednesday. 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 company has a market capitalization of $169.24 billion, a P/E ratio of 94.09, a P/E/G ratio of 2.78 and a beta of 1.14. Corning Incorporated has a 12 month low of $48.62 and a 12 month high of $211.79. The business’s 50-day moving average is $164.19 and its 200 day moving average is $124.80.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The company had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities research analysts forecast that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Friday, May 29th will be given 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 yield of 0.6%. Corning’s dividend payout ratio is 53.59%.

Analysts Set New Price Targets

Several brokerages have recently commented on GLW. HSBC restated a “buy” rating and issued a $135.00 price objective on shares of Corning in a research report on Friday, February 13th. UBS Group boosted their target price on Corning from $179.00 to $223.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Wolfe Research set a $130.00 target price on Corning and gave the stock an “outperform” rating in a research report on Tuesday, January 27th. Zacks Research upgraded Corning from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $177.92.

Corning 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.