Sterling Capital Management LLC Sells 19,658 Shares of Corning Incorporated $GLW

Sterling Capital Management LLC decreased its holdings in Corning Incorporated (NYSE:GLW) by 42.3% in the first quarter, HoldingsChannel reports. The institutional investor owned 26,761 shares of the electronics maker’s stock after selling 19,658 shares during the period. Sterling Capital Management LLC’s holdings in Corning were worth $3,639,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lewis Asset Management LLC acquired a new position in Corning in the first quarter worth about $435,000. River Street Advisors LLC boosted its holdings in Corning by 0.5% during the first quarter. River Street Advisors LLC now owns 34,914 shares of the electronics maker’s stock valued at $4,747,000 after purchasing an additional 170 shares in the last quarter. Maridea Wealth Management LLC acquired a new stake in Corning during the first quarter valued at approximately $1,954,000. Pinnacle Wealth Management Advisory Group LLC grew its stake in shares of Corning by 13.6% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 3,425 shares of the electronics maker’s stock valued at $466,000 after purchasing an additional 409 shares during the period. Finally, VCI Wealth Management LLC acquired a new position in shares of Corning in the 1st quarter worth approximately $1,132,000. 69.80% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $207.02, for a total value of $674,885.20. Following the completion of the transaction, the senior vice president directly owned 10,174 shares of the company’s stock, valued at $2,106,221.48. The trade was a 24.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Wendell P. Weeks sold 100,000 shares of the company’s 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 in the company, valued at approximately $169,371,500.38. This trade represents a 9.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 160,655 shares of company stock valued at $30,692,560 in the last 90 days. 0.25% of the stock is owned by corporate insiders.

Corning Stock Down 2.2%

Shares of GLW opened at $223.00 on Friday. The company has a market capitalization of $191.92 billion, a P/E ratio of 106.70, a PEG ratio of 3.16 and a beta of 1.15. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. Corning Incorporated has a one year low of $51.32 and a one year high of $230.50. The business’s 50 day simple moving average is $184.70 and its 200-day simple moving average is $141.72.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $4.30 billion. During the same period last year, the firm posted $0.54 EPS. The business’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. As a group, sell-side analysts predict that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio is presently 53.59%.

Analyst Upgrades and Downgrades

GLW has been the subject of several analyst reports. Wall Street Zen downgraded Corning from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. UBS Group upped their price target on Corning from $223.00 to $228.00 and gave the company a “buy” rating in a research report on Friday, June 5th. Bank of America lifted their price objective on Corning from $155.00 to $186.00 and gave the company a “buy” rating in a report on Monday, April 20th. Citigroup boosted their target price on shares of Corning from $175.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, JPMorgan Chase & Co. upped their target price on shares of 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 given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $182.62.

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.