Flputnam Investment Management Co. Sells 3,829 Shares of Corning Incorporated $GLW

Flputnam Investment Management Co. lessened its position in shares of Corning Incorporated (NYSE:GLW) by 2.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 138,589 shares of the electronics maker’s stock after selling 3,829 shares during the period. Flputnam Investment Management Co.’s holdings in Corning were worth $35,400,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Berbice Capital Management LLC acquired a new position in shares of Corning during the fourth quarter worth approximately $26,000. Basepoint Wealth LLC bought a new position in shares of Corning during the fourth quarter valued at about $26,000. Atwood & Palmer Inc. purchased a new position in Corning during the second quarter worth about $26,000. Kemnay Advisory Services Inc. bought a new stake in Corning in the 4th quarter worth about $27,000. Finally, Litman Gregory Wealth Management LLC bought a new stake in Corning in the 4th quarter worth about $31,000. 69.80% of the stock is owned by institutional investors.

Insider Activity

In other news, 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 value of $18,646,000.00. Following the completion of the transaction, the chief executive officer directly owned 908,353 shares in the company, valued at approximately $169,371,500.38. This represents a 9.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

GLW has been the topic of several recent analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Corning from $200.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 29th. UBS Group reaffirmed a “buy” rating and set a $196.00 price target on shares of Corning in a research report on Wednesday, July 29th. Zacks Research lowered Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Citigroup cut their price objective on Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a research report on Wednesday, July 29th. Finally, Oppenheimer decreased their target price on Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $174.08.

Corning Trading Down 2.6%

Shares of GLW opened at $148.87 on Friday. Corning Incorporated has a fifty-two week low of $66.14 and a fifty-two week high of $271.78. The business has a 50-day moving average of $171.18 and a 200 day moving average of $164.60. The firm has a market cap of $128.23 billion, a P/E ratio of 67.98, a price-to-earnings-growth ratio of 1.91 and a beta of 1.14. 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 (NYSE:GLW) last issued its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.76 by $0.02. The business had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.The firm’s revenue was up 17.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, research analysts forecast that Corning Incorporated will post 3.27 EPS for the current year.

Corning Announces Dividend

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 given a dividend of $0.28 per share. The ex-dividend date 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 51.14%.

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.