Illinois Municipal Retirement Fund Sells 34,303 Shares of Corning Incorporated $GLW

Illinois Municipal Retirement Fund trimmed its position in shares of Corning Incorporated (NYSE:GLW) by 10.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 294,679 shares of the electronics maker’s stock after selling 34,303 shares during the period. Illinois Municipal Retirement Fund’s holdings in Corning were worth $25,802,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GLW. Beese Fulmer Investment Management Inc. grew its position in shares of Corning by 2.5% in the 4th quarter. Beese Fulmer Investment Management Inc. now owns 3,836 shares of the electronics maker’s stock valued at $336,000 after acquiring an additional 92 shares during the period. 3Chopt Investment Partners LLC raised its holdings in shares of Corning by 1.0% in the 4th quarter. 3Chopt Investment Partners LLC now owns 10,248 shares of the electronics maker’s stock valued at $897,000 after purchasing an additional 97 shares during the period. Patten & Patten Inc. TN raised its holdings in shares of Corning by 0.6% in the 4th quarter. Patten & Patten Inc. TN now owns 17,796 shares of the electronics maker’s stock valued at $1,558,000 after purchasing an additional 100 shares during the period. Vermillion Wealth Management Inc. lifted its stake in Corning by 32.8% in the 4th quarter. Vermillion Wealth Management Inc. now owns 405 shares of the electronics maker’s stock valued at $36,000 after purchasing an additional 100 shares during the last quarter. Finally, Joel Isaacson & Co. LLC grew its holdings in Corning by 0.5% during the fourth quarter. Joel Isaacson & Co. LLC now owns 20,518 shares of the electronics maker’s stock worth $1,797,000 after purchasing an additional 102 shares during the period. 69.80% of the stock is owned by institutional investors.

Corning Trading Down 3.3%

Shares of GLW stock opened at $168.28 on Thursday. The firm has a 50 day moving average price of $175.58 and a two-hundred day moving average price of $132.65. 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 company has a market capitalization of $144.83 billion, a PE ratio of 80.52, a price-to-earnings-growth ratio of 2.49 and a beta of 1.15. Corning Incorporated has a 12-month low of $49.47 and a 12-month high of $211.79.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS 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 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 revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, analysts predict that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Announces Dividend

The company 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 dividend of $0.28 per share. The ex-dividend date is Friday, May 29th. This represents a $1.12 annualized dividend and a yield of 0.7%. Corning’s dividend payout ratio (DPR) is presently 53.59%.

Wall Street Analysts Forecast Growth

GLW has been the topic of a number of recent analyst reports. Mizuho boosted their price target on Corning from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. Bank of America lifted their target price on Corning from $155.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. HSBC reissued a “buy” rating and set a $135.00 target price on shares of Corning in a report on Friday, February 13th. Citigroup increased their price target on Corning from $175.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, UBS Group raised their price target on Corning from $223.00 to $228.00 and gave the company a “buy” rating in a report on Friday, June 5th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Corning has an average rating of “Moderate Buy” and an average target price of $178.31.

Corning News Roundup

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning landed a multiyear, multibillion-dollar agreement with Amazon to supply optical fiber, cable, and connectivity for U.S. data centers, strengthening its position in AI infrastructure and supporting future revenue growth. Corning strikes another multibillion-dollar AI deal. What the new Amazon pact means for the stock
• Positive Sentiment: Commentary says Corning is benefiting from strong demand in optical communications as hyperscalers shift away from legacy copper toward fiber, which could improve Corning’s growth outlook and earnings estimates. Corning (GLW) Gained from Robust Demand in Optical Communications
• Positive Sentiment: Corning’s first-quarter results were solid, with revenue and EPS both edging above estimates and optical communications sales growing quickly, helping support the bullish AI narrative. Why Corning (GLW) Is Up 6.1% After Amazon’s Multiyear US Data Center Fiber Deal And What’s Next
• Positive Sentiment: Analysts continue to highlight Corning as a beneficiary of AI data center spending, with multiple recent price-target increases reinforcing the stock’s longer-term upside case. Corning Is Paving AI’s Future With Glass
• Neutral Sentiment: CEO Wendell P. Weeks sold 100,000 shares, which may create some investor caution, but the sale appears routine and does not by itself change Corning’s operating outlook. SEC Form 4
• Negative Sentiment: One Seeking Alpha piece argued Corning’s strong growth may not be enough to prevent underperformance, adding a bearish note that could temper enthusiasm after the recent rally. Corning’s Monumental Growth Won’t Save It From Underperformance (Downgrade)

Insider Activity at Corning

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total value of $18,646,000.00. Following the completion of the sale, the chief executive officer owned 908,353 shares of the company’s stock, valued at $169,371,500.38. The trade was a 9.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Michaune D. Tillman sold 3,260 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $207.02, for a total transaction of $674,885.20. Following the transaction, the senior vice president owned 10,174 shares in the company, valued at approximately $2,106,221.48. The trade was a 24.27% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 160,655 shares of company stock valued at $30,692,561. 0.25% of the stock is currently owned by insiders.

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.