Patton Fund Management Inc. Decreases Stake in Corning Incorporated $GLW

Patton Fund Management Inc. lessened its stake in shares of Corning Incorporated (NYSE:GLW) by 63.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 24,433 shares of the electronics maker’s stock after selling 43,031 shares during the period. Patton Fund Management Inc.’s holdings in Corning were worth $3,322,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Brighton Jones LLC grew its holdings in shares of Corning by 46.0% during the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock valued at $319,000 after buying an additional 2,114 shares during the last quarter. Retirement Planning Co of New England Inc. purchased a new position in Corning in the 1st quarter worth $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Corning by 9.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock worth $2,962,000 after acquiring an additional 5,522 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in Corning during the 2nd quarter worth about $401,000. Finally, Schnieders Capital Management LLC. acquired a new stake in Corning during the 2nd quarter worth about $266,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GLW. Susquehanna increased their price objective on Corning from $125.00 to $180.00 and gave the company a “positive” rating in a report on Wednesday, April 29th. Zacks Research lowered Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. JPMorgan Chase & Co. increased their price target on shares of Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Citigroup raised their price target on shares of Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Bank of America upped their price objective on shares of Corning from $155.00 to $186.00 and gave the company a “buy” rating in a report on Monday, April 20th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $182.62.

Insider Activity at Corning

In other Corning news, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction 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 completion of the transaction, the senior vice president owned 10,174 shares of the company’s stock, valued at approximately $2,106,221.48. The trade was a 24.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jaymin Amin sold 27,395 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the sale, the senior vice president directly owned 94,400 shares in the company, valued at approximately $18,138,016. The trade was a 22.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 160,655 shares of company stock valued at $30,692,560 in the last quarter. 0.25% of the stock is currently owned by insiders.

Corning Stock Up 0.9%

Shares of GLW opened at $223.00 on Monday. Corning Incorporated has a 52 week low of $51.32 and a 52 week high of $230.50. 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 $191.92 billion, a price-to-earnings ratio of 106.70, a PEG ratio of 3.16 and a beta of 1.15. The stock’s 50-day moving average price is $184.70 and its 200-day moving average price is $142.10.

Corning (NYSE:GLW) last announced its quarterly 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. Corning had a return on equity of 19.45% and a net margin of 11.09%.The company had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same period last year, the business earned $0.54 earnings per share. Corning’s quarterly revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, sell-side analysts predict that Corning Incorporated will post 3.19 EPS for the current year.

Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio (DPR) 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.