Earnest Partners LLC Lowers Position in Corning Incorporated $GLW

Earnest Partners LLC trimmed its position in shares of Corning Incorporated (NYSE:GLW) by 10.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 44,253 shares of the electronics maker’s stock after selling 5,336 shares during the quarter. Earnest Partners LLC’s holdings in Corning were worth $3,630,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Corning by 0.8% in the third quarter. Vanguard Group Inc. now owns 98,702,639 shares of the electronics maker’s stock worth $8,096,577,000 after purchasing an additional 750,530 shares during the period. State Street Corp lifted its position in Corning by 1.4% during the second quarter. State Street Corp now owns 36,568,973 shares of the electronics maker’s stock valued at $1,923,162,000 after buying an additional 509,013 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Corning by 30.3% during the 3rd quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock valued at $1,358,211,000 after buying an additional 3,848,540 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Corning by 8.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock valued at $724,432,000 after buying an additional 1,036,988 shares in the last quarter. Finally, Capital Research Global Investors purchased a new stake in shares of Corning in the 3rd quarter worth about $907,164,000. Institutional investors own 69.80% of the company’s stock.

Corning Stock Performance

Shares of GLW stock opened at $132.14 on Tuesday. The company has a market capitalization of $113.37 billion, a price-to-earnings ratio of 71.81, a price-to-earnings-growth ratio of 2.04 and a beta of 1.04. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.04 and a current ratio of 1.59. Corning Incorporated has a one year low of $37.31 and a one year high of $162.10. The company’s 50-day moving average is $118.61 and its 200 day moving average is $95.93.

Corning (NYSE:GLW) last issued its earnings results on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.01. The business had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.35 billion. Corning had a net margin of 10.21% and a return on equity of 18.72%. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.57 earnings per share. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. Sell-side analysts expect that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Friday, February 27th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, February 27th. Corning’s payout ratio is presently 60.87%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GLW. Susquehanna lifted their price target on shares of Corning from $100.00 to $125.00 and gave the company a “positive” rating in a research report on Thursday, January 29th. Oppenheimer set a $120.00 price objective on shares of Corning in a report on Thursday, January 29th. Zacks Research downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 21st. Wall Street Zen upgraded shares of Corning from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Finally, Citigroup boosted their price target on Corning from $120.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.75.

Insiders Place Their Bets

In other news, insider Eric S. Musser sold 25,000 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $110.00, for a total value of $2,750,000.00. Following the completion of the transaction, the insider owned 19,926 shares in the company, valued at $2,191,860. The trade was a 55.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Wendell P. Weeks sold 137,514 shares of the company’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $155.37, for a total value of $21,365,550.18. Following the transaction, the chief executive officer directly owned 750,585 shares in the company, valued at approximately $116,618,391.45. The trade was a 15.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 233,201 shares of company stock worth $32,614,558 in the last three months. Corporate insiders own 0.32% of the company’s stock.

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.