Varma Mutual Pension Insurance Co Sells 34,400 Shares of Corning Incorporated $GLW

Varma Mutual Pension Insurance Co decreased its stake in Corning Incorporated (NYSE:GLW) by 15.3% during the 4th quarter, HoldingsChannel reports. The fund owned 190,332 shares of the electronics maker’s stock after selling 34,400 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Corning were worth $16,665,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in shares of Corning in the third quarter worth $25,000. Strengthening Families & Communities LLC acquired a new stake in shares of Corning in the third quarter worth $27,000. Cornerstone Planning Group LLC grew its stake in shares of Corning by 58.5% in the third quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker’s stock worth $30,000 after acquiring an additional 124 shares during the last quarter. JPL Wealth Management LLC acquired a new stake in shares of Corning in the third quarter worth $33,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Corning in the fourth quarter worth $35,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GLW. Bank of America raised their price objective on shares of Corning from $155.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Wolfe Research set a $130.00 price objective on shares of Corning and gave the stock an “outperform” rating in a research note on Tuesday, January 27th. Wall Street Zen upgraded shares of Corning from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Weiss Ratings upgraded shares of Corning from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 17th. Finally, Citigroup raised their price objective on shares of Corning from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $150.31.

Insider Activity

In other Corning news, CEO Wendell P. Weeks sold 137,514 shares of Corning stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $155.37, for a total transaction of $21,365,550.18. Following the completion of the transaction, the chief executive officer directly owned 750,585 shares of the company’s stock, valued at approximately $116,618,391.45. This trade represents a 15.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lewis A. Steverson sold 15,366 shares of Corning stock in a transaction on 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 transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 187,053 shares of company stock valued at $27,653,630. 0.25% of the stock is owned by insiders.

Corning Stock Up 1.4%

GLW opened at $160.41 on Tuesday. Corning Incorporated has a fifty-two week low of $44.33 and a fifty-two week high of $179.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. The firm’s fifty day moving average price is $148.66 and its two-hundred day moving average price is $113.22. The company has a market capitalization of $137.80 billion, a P/E ratio of 76.75, a P/E/G ratio of 2.26 and a beta of 1.14.

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, topping analysts’ consensus estimates of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The firm had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter in the previous year, the company earned $0.54 earnings per share. The business’s revenue was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, analysts anticipate that Corning Incorporated will post 3.17 EPS for the current year.

Corning Dividend Announcement

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

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.