Corning Incorporated $GLW Position Reduced by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in Corning Incorporated (NYSE:GLW) by 3.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,323,016 shares of the electronics maker’s stock after selling 209,078 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.62% of Corning worth $1,359,658,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Security National Bank lifted its holdings in Corning by 340.4% in the 4th quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock valued at $6,350,000 after acquiring an additional 56,056 shares during the last quarter. Herbst Group LLC acquired a new position in shares of Corning in the 2nd quarter worth approximately $4,474,000. Principal Financial Group Inc. raised its holdings in shares of Corning by 1.2% in the 1st quarter. Principal Financial Group Inc. now owns 893,451 shares of the electronics maker’s stock worth $121,483,000 after purchasing an additional 10,591 shares in the last quarter. Wealthfront Advisers LLC lifted its stake in Corning by 36.2% during the first quarter. Wealthfront Advisers LLC now owns 92,425 shares of the electronics maker’s stock valued at $12,567,000 after purchasing an additional 24,589 shares during the last quarter. Finally, Atlas Wealth LLC increased its holdings in shares of Corning by 137.8% in the first quarter. Atlas Wealth LLC now owns 12,076 shares of the electronics maker’s stock valued at $1,642,000 after buying an additional 6,998 shares in the last quarter. 69.80% of the stock is owned by institutional investors.

Corning Stock Down 2.6%

NYSE:GLW opened at $148.87 on Friday. The firm has a market capitalization of $128.23 billion, a price-to-earnings ratio of 67.98, a PEG ratio of 1.91 and a beta of 1.14. Corning Incorporated has a 1-year low of $66.14 and a 1-year high of $271.78. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. The business’s fifty day moving average price is $171.18 and its 200 day moving average price is $164.60.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.02. Corning had a return on equity of 20.09% and a net margin of 11.20%.The firm had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. During the same period in the prior year, the business earned $0.60 EPS. The business’s revenue for the quarter was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, sell-side analysts forecast that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio is 51.14%.

Insider Activity at Corning

In related news, CEO Wendell P. Weeks sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the completion of the sale, the chief executive officer directly owned 908,353 shares in the company, valued at approximately $169,371,500.38. This trade represents a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. decreased their target price on Corning from $200.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, July 29th. Wall Street Zen downgraded Corning from a “buy” rating to a “hold” rating in a report on Monday, August 24th. Morgan Stanley reduced their price objective on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 29th. Barclays decreased their target price on shares of Corning from $180.00 to $129.00 and set an “equal weight” rating for the company in a report on Wednesday, July 29th. Finally, Citigroup cut their price target on shares of Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a report on Wednesday, July 29th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $174.08.

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.