Corning Incorporated $GLW Holdings Decreased by Leigh Baldwin & CO. LLC

Leigh Baldwin & CO. LLC reduced its position in shares of Corning Incorporated (NYSE:GLW) by 37.0% during the 1st quarter, HoldingsChannel.com reports. The fund owned 8,206 shares of the electronics maker’s stock after selling 4,828 shares during the quarter. Leigh Baldwin & CO. LLC’s holdings in Corning were worth $1,116,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Merit Financial Group LLC increased its holdings in Corning by 16.9% in the fourth quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker’s stock valued at $3,940,000 after purchasing an additional 6,493 shares during the period. Security National Bank grew its position in shares of Corning by 340.4% in the 4th quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock valued at $6,350,000 after buying an additional 56,056 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Corning by 1.2% in the first quarter. Principal Financial Group Inc. now owns 893,451 shares of the electronics maker’s stock valued at $121,483,000 after buying an additional 10,591 shares during the period. Wealthfront Advisers LLC increased its stake in shares of Corning by 36.2% in the first quarter. Wealthfront Advisers LLC now owns 92,425 shares of the electronics maker’s stock valued at $12,567,000 after buying an additional 24,589 shares during the period. Finally, RiverFront Investment Group LLC raised its position in shares of Corning by 65.4% during the fourth quarter. RiverFront Investment Group LLC now owns 14,718 shares of the electronics maker’s stock worth $1,289,000 after acquiring an additional 5,818 shares during the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Stock Up 9.2%

Shares of Corning stock opened at $135.43 on Friday. The stock’s 50-day moving average is $184.02 and its 200 day moving average is $156.88. Corning Incorporated has a one year low of $61.44 and a one year high of $271.78. The firm has a market cap of $116.56 billion, a price-to-earnings ratio of 61.84, a PEG ratio of 1.62 and a beta of 1.09. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.06.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.02. Corning had a return on equity of 20.09% and a net margin of 11.20%.The business had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. During the same period in the previous year, the company posted $0.60 earnings per share. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities research analysts anticipate that Corning Incorporated will post 3.22 EPS for the current year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be paid a $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. Corning’s payout ratio is currently 51.14%.

Key Headlines Impacting Corning

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning reported adjusted second-quarter earnings of $0.78 per share versus the $0.76 consensus estimate, while revenue rose 17.1% year over year to $4.74 billion, ahead of expectations. Corning Stock Crashes on Earnings, But the Sell-Off Looks Overdone
• Positive Sentiment: Management highlighted sustained demand for optical fiber, cables and connectors used in AI data centers, along with its Springboard strategy to expand sales and profitability. Amazon and Nvidia-related fiber demand remains an important growth catalyst. GLW Q2 Earnings Call Highlights AI Growth Plan
• Positive Sentiment: Strong free cash flow has attracted bullish options activity: unusually heavy short-put trading suggests some investors view the selloff as an attractive entry point and are willing to buy shares at lower prices. Corning Delivers Strong FCF Results, But Investors Play GLW Stock’s Drop With an Unusual Short-Put Play
• Positive Sentiment: Citigroup retained a Buy rating despite reducing its price target to $220, indicating analysts still see substantial long-term upside in Corning’s optical and AI infrastructure exposure.

Analyst Upgrades and Downgrades

GLW has been the topic of several analyst reports. Wall Street Zen upgraded Corning from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. Bank of America raised their price target on shares of Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a report on Monday, July 6th. Citigroup dropped their price target on shares of Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a research report on Wednesday. UBS Group reaffirmed a “buy” rating and issued a $196.00 price objective on shares of Corning in a research note on Wednesday. Finally, Susquehanna increased their price objective on shares of Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research report on Wednesday, April 29th. Nine research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $176.38.

Insider Activity at Corning

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the firm’s stock in a transaction on 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 directly owned 908,353 shares in the company, valued at approximately $169,371,500.38. This trade represents a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jaymin Amin sold 27,395 shares of Corning stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the completion of the sale, the senior vice president directly owned 94,400 shares of the company’s stock, valued at approximately $18,138,016. This trade represents a 22.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 160,655 shares of company stock worth $30,692,560 over the last ninety days. 0.25% of the stock is owned by corporate insiders.

Corning Company 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.