Corning Incorporated $GLW Shares Sold by Wakefield Asset Management LLLP

Wakefield Asset Management LLLP lowered its stake in shares of Corning Incorporated (NYSE:GLW) by 36.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,842 shares of the electronics maker’s stock after selling 3,293 shares during the quarter. Wakefield Asset Management LLLP’s holdings in Corning were worth $512,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Isthmus Partners LLC acquired a new position in shares of Corning during the fourth quarter valued at about $251,000. Phoenix Financial Ltd. increased its holdings in shares of Corning by 18.0% during the fourth quarter. Phoenix Financial Ltd. now owns 6,045 shares of the electronics maker’s stock valued at $529,000 after acquiring an additional 923 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Corning by 18.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 87,391 shares of the electronics maker’s stock valued at $7,670,000 after acquiring an additional 13,552 shares in the last quarter. Cornerstone Wealth Management LLC increased its holdings in shares of Corning by 13.2% during the fourth quarter. Cornerstone Wealth Management LLC now owns 5,941 shares of the electronics maker’s stock valued at $520,000 after acquiring an additional 694 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of Corning by 2.4% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,412,594 shares of the electronics maker’s stock valued at $124,030,000 after acquiring an additional 32,709 shares in the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Wendell P. Weeks sold 137,514 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer owned 750,585 shares in the company, valued at $116,618,391.45. This trade represents a 15.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Soumya Seetharam sold 20,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $206.23, for a total value of $4,124,600.00. Following the transaction, the senior vice president owned 25,570 shares in the company, valued at $5,273,301.10. This trade represents a 43.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 170,774 shares of company stock worth $28,148,435. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

GLW has been the topic of several recent analyst reports. Citigroup upped their price objective on shares of Corning from $175.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Morgan Stanley set a $180.00 price target on shares of Corning in a report on Friday, May 8th. Wall Street Zen upgraded shares of Corning from a “hold” rating to a “buy” rating in a report on Sunday. Weiss Ratings upgraded shares of Corning from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 17th. Finally, Barclays increased their price target on shares of Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Corning has a consensus rating of “Moderate Buy” and a consensus price target of $177.92.

Corning Trading Down 7.7%

Corning stock opened at $192.18 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. Corning Incorporated has a 12 month low of $47.40 and a 12 month high of $211.79. The stock’s 50 day simple moving average is $156.22 and its two-hundred day simple moving average is $119.68. The firm has a market cap of $165.40 billion, a PE ratio of 91.95, a P/E/G ratio of 2.74 and a beta of 1.14.

Corning (NYSE:GLW) last released its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The business had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the prior year, the firm posted $0.54 EPS. The business’s quarterly 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. Analysts anticipate that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Friday, May 29th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, May 29th. Corning’s dividend payout ratio is currently 53.59%.

About Corning

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.