Wilmington Savings Fund Society FSB Sells 15,133 Shares of Corning Incorporated $GLW

Wilmington Savings Fund Society FSB reduced its stake in shares of Corning Incorporated (NYSE:GLW) by 4.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 309,103 shares of the electronics maker’s stock after selling 15,133 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Corning were worth $25,356,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in shares of Corning in the 3rd quarter valued at approximately $25,000. Strengthening Families & Communities LLC acquired a new stake in shares of Corning during the 3rd quarter worth approximately $27,000. Total Investment Management Inc. acquired a new stake in shares of Corning during the 2nd quarter worth approximately $28,000. Cornerstone Planning Group LLC increased its stake in 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 during the last quarter. Finally, Financial Management Professionals Inc. increased its stake in Corning by 111.1% in the third quarter. Financial Management Professionals Inc. now owns 380 shares of the electronics maker’s stock valued at $31,000 after acquiring an additional 200 shares during the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insiders Place Their Bets

In other Corning news, CEO Wendell P. Weeks sold 137,514 shares of the company’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $155.37, for a total value of $21,365,550.18. Following the sale, the chief executive officer owned 750,585 shares in the company, valued at approximately $116,618,391.45. The trade was a 15.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Lewis A. Steverson sold 15,366 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $130.22, for a total value of $2,000,960.52. Following the completion of the sale, the executive vice president directly owned 3,461 shares of the company’s stock, valued at approximately $450,691.42. The trade was a 81.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 233,201 shares of company stock valued at $32,614,558 over the last ninety days. 0.32% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Bank of America upped their target price on Corning from $120.00 to $144.00 and gave the stock a “buy” rating in a research note on Thursday, March 12th. Zacks Research cut Corning from a “strong-buy” rating to a “hold” rating in a report on Friday, November 21st. Morgan Stanley upped their price objective on Corning from $103.00 to $127.00 and gave the stock an “equal weight” rating in a research report on Monday, February 23rd. UBS Group lifted their target price on Corning from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Finally, Wolfe Research set a $130.00 target price on Corning and gave the stock an “outperform” rating in a research note on Tuesday, January 27th. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $131.75.

Corning Stock Down 1.6%

Shares of NYSE GLW opened at $129.91 on Wednesday. The company has a 50 day simple moving average of $119.42 and a 200 day simple moving average of $96.37. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.04. Corning Incorporated has a 1 year low of $37.31 and a 1 year high of $162.10. The firm has a market cap of $111.46 billion, a PE ratio of 70.60, a price-to-earnings-growth ratio of 2.08 and a beta of 1.05.

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

Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Friday, February 27th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.12 annualized dividend and a dividend yield of 0.9%. Corning’s payout ratio is currently 60.87%.

Corning Company 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.