Wellington Shields Capital Management LLC Trims Stock Holdings in Corning Incorporated $GLW

Wellington Shields Capital Management LLC lowered its holdings in Corning Incorporated (NYSE:GLW) by 11.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,095 shares of the electronics maker’s stock after selling 3,415 shares during the period. Wellington Shields Capital Management LLC’s holdings in Corning were worth $2,372,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Research Global Investors acquired a new stake in shares of Corning during the 3rd quarter worth approximately $907,164,000. WCM Investment Management LLC acquired a new stake in shares of Corning during the 3rd quarter worth approximately $676,931,000. Wellington Management Group LLP raised its position 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 worth $1,358,211,000 after purchasing an additional 3,848,540 shares during the period. Polar Capital Holdings Plc increased its position in Corning by 141.2% in the 3rd quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock valued at $329,035,000 after acquiring an additional 2,348,125 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Corning in the 3rd quarter valued at approximately $185,221,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on GLW. Zacks Research raised Corning from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th. Bank of America raised their price objective on Corning from $155.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Wall Street Zen raised Corning from a “hold” rating to a “buy” rating in a research report on Sunday, May 17th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. Finally, Citigroup raised their target price on Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Corning has an average rating of “Moderate Buy” and a consensus price target of $177.92.

Corning Stock Performance

Shares of Corning stock opened at $193.83 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. Corning Incorporated has a 12 month low of $47.67 and a 12 month high of $211.79. The business has a fifty day simple moving average of $162.85 and a 200-day simple moving average of $124.03. The stock has a market cap of $166.82 billion, a PE ratio of 92.74, a price-to-earnings-growth ratio of 2.78 and a beta of 1.14.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. The company had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The business’s revenue was up 18.1% compared to the same quarter last year. During the same period last year, the company earned $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, sell-side analysts anticipate that Corning Incorporated will post 3.19 EPS for the current fiscal 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 issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Friday, May 29th. Corning’s payout ratio is presently 53.59%.

Insider Buying and Selling

In other Corning news, SVP Soumya Seetharam sold 20,000 shares of Corning stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the sale, the senior vice president directly owned 25,570 shares of the company’s stock, valued at approximately $5,273,301.10. The trade was a 43.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the sale, the senior vice president directly owned 10,174 shares in the company, valued at $2,106,221.48. The trade was a 24.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 170,774 shares of company stock valued at $28,148,435 over the last ninety days. Company insiders own 0.25% of the company’s stock.

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.