GHP Investment Advisors Inc. Sells 4,599 Shares of Corning Incorporated $GLW

GHP Investment Advisors Inc. cut its stake in Corning Incorporated (NYSE:GLW) by 5.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 74,552 shares of the electronics maker’s stock after selling 4,599 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Corning were worth $10,137,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in GLW. Verus Financial Partners Inc. purchased a new stake in shares of Corning during the 1st quarter worth $240,000. Aaron Wealth Advisors LLC grew its stake in Corning by 1.1% in the first quarter. Aaron Wealth Advisors LLC now owns 16,375 shares of the electronics maker’s stock valued at $2,227,000 after purchasing an additional 182 shares during the last quarter. OLD National Bancorp IN grew its stake in Corning by 12.5% in the first quarter. OLD National Bancorp IN now owns 19,620 shares of the electronics maker’s stock valued at $2,668,000 after purchasing an additional 2,184 shares during the last quarter. Cottage Street Advisors LLC raised its holdings in Corning by 183.2% in the first quarter. Cottage Street Advisors LLC now owns 8,430 shares of the electronics maker’s stock worth $1,146,000 after purchasing an additional 5,453 shares in the last quarter. Finally, Louisiana State Employees Retirement System bought a new position in Corning in the first quarter worth about $5,412,000. 69.80% of the stock is owned by institutional investors.

Corning Price Performance

Shares of GLW stock opened at $228.14 on Friday. Corning Incorporated has a fifty-two week low of $51.32 and a fifty-two week high of $230.50. The firm has a market capitalization of $196.35 billion, a price-to-earnings ratio of 109.16, a PEG ratio of 2.95 and a beta of 1.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. The stock’s 50-day simple moving average is $183.60 and its 200-day simple moving average is $141.15.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.01. The firm had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, equities analysts forecast that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be paid a dividend of $0.28 per share. The ex-dividend date is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a yield of 0.5%. Corning’s dividend payout ratio is presently 53.59%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on GLW shares. Weiss Ratings restated a “buy (b-)” rating on shares of Corning in a report on Friday, May 15th. Citigroup boosted their price objective on shares of Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Zacks Research cut shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. UBS Group raised their target price on shares of Corning from $223.00 to $228.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Finally, Truist Financial lifted their price target on shares of Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a report on Monday. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $182.62.

Insiders Place Their Bets

In other Corning news, SVP Soumya Seetharam sold 20,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the senior vice president owned 25,570 shares of the company’s stock, valued at approximately $5,273,301.10. This trade represents a 43.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction 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 sale, the senior vice president owned 10,174 shares of the company’s stock, valued at $2,106,221.48. The trade was a 24.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 160,655 shares of company stock valued at $30,692,560. Corporate 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.