Highland Capital Management LLC Sells 4,275 Shares of Corning Incorporated $GLW

Highland Capital Management LLC trimmed its position in shares of Corning Incorporated (NYSE:GLW) by 5.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 81,218 shares of the electronics maker’s stock after selling 4,275 shares during the quarter. Highland Capital Management LLC’s holdings in Corning were worth $7,111,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Corning by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker’s stock worth $8,693,247,000 after buying an additional 580,678 shares during the last quarter. State Street Corp increased its stake in shares of Corning by 1.2% in the third quarter. State Street Corp now owns 37,008,856 shares of the electronics maker’s stock valued at $3,035,836,000 after buying an additional 439,883 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Corning by 30.3% in the third 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. increased its stake in shares of Corning by 8.1% in the second 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 acquired a new stake in shares of Corning in the third quarter valued at $907,164,000. 69.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Morgan Stanley raised their target price on Corning from $127.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, April 20th. Weiss Ratings upgraded Corning from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 17th. Mizuho set a $145.00 target price on Corning in a research note on Monday, February 23rd. Oppenheimer set a $120.00 target price on Corning in a research note on Thursday, January 29th. Finally, Citigroup raised their target price on Corning from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Corning currently has a consensus rating of “Moderate Buy” and an average price target of $150.31.

Insider Activity at Corning

In other news, insider Eric S. Musser sold 15,000 shares of Corning stock in a transaction on Monday, February 9th. The shares were sold at an average price of $130.25, for a total transaction of $1,953,750.00. Following the transaction, the insider directly owned 4,926 shares of the company’s stock, valued at $641,611.50. This trade represents a 75.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Avery H. Nelson III sold 6,262 shares of Corning stock in a transaction on Monday, February 9th. The stock was sold at an average price of $129.79, for a total transaction of $812,744.98. Following the transaction, the chief operating officer directly owned 61,371 shares in the company, valued at approximately $7,965,342.09. This represents a 9.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 187,053 shares of company stock valued at $27,653,630. 0.25% of the stock is owned by corporate insiders.

Corning Price Performance

Shares of GLW stock opened at $160.41 on Tuesday. The stock has a 50-day moving average price of $148.66 and a 200 day moving average price of $113.22. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. The firm has a market cap of $137.80 billion, a price-to-earnings ratio of 76.75, a PEG ratio of 2.26 and a beta of 1.14. Corning Incorporated has a 12 month low of $44.33 and a 12 month high of $179.08.

Corning (NYSE:GLW) last posted 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. The company had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The firm’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Research analysts expect that Corning Incorporated will post 3.17 EPS for the current year.

Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, May 29th. Corning’s dividend payout ratio (DPR) is currently 53.59%.

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.