Corning Incorporated $GLW Shares Sold by Legacy Capital Group California Inc.

Legacy Capital Group California Inc. trimmed its position in shares of Corning Incorporated (NYSE:GLW) by 53.7% in the first quarter, HoldingsChannel.com reports. The fund owned 8,409 shares of the electronics maker’s stock after selling 9,746 shares during the period. Legacy Capital Group California Inc.’s holdings in Corning were worth $1,143,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of GLW. Vanguard Group Inc. raised its stake in Corning by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker’s stock valued at $8,693,247,000 after buying an additional 580,678 shares in the last quarter. State Street Corp raised its holdings in Corning by 1.2% during the third quarter. State Street Corp now owns 37,008,856 shares of the electronics maker’s stock worth $3,035,836,000 after purchasing an additional 439,883 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Corning by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker’s stock worth $1,781,250,000 after buying an additional 517,067 shares during the last quarter. Capital Research Global Investors lifted its position in shares of Corning by 52.7% during the 4th quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock worth $1,478,959,000 after buying an additional 5,831,873 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Corning by 8.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock valued at $724,432,000 after buying an additional 1,036,988 shares in the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insider Buying and Selling

In other Corning news, VP John Z. Zhang sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the completion of the sale, the vice president owned 5,138 shares in the company, valued at $1,019,070.92. This trade represents a 66.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Wendell P. Weeks sold 100,000 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the completion of the sale, the chief executive officer owned 908,353 shares in the company, valued at approximately $169,371,500.38. This trade represents a 9.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 160,655 shares of company stock valued at $30,692,560. 0.25% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. UBS Group set a $243.00 target price on Corning in a report on Monday, July 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. Barclays raised their price target on Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Finally, Citigroup lifted their price target on Corning from $225.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Corning presently has a consensus rating of “Moderate Buy” and a consensus target price of $194.69.

Corning Trading Down 4.1%

Shares of GLW stock opened at $183.14 on Tuesday. The stock has a market cap of $157.62 billion, a P/E ratio of 87.63, a P/E/G ratio of 2.50 and a beta of 1.09. 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 fifty-two week low of $51.32 and a fifty-two week high of $271.78. The business has a fifty day simple moving average of $193.56 and a 200-day simple moving average of $151.06.

Corning (NYSE:GLW) last issued its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (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 firm had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same period in the previous year, the firm posted $0.54 EPS. The company’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. On average, analysts forecast that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio is 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.