Pinnacle Associates Ltd. Sells 6,155 Shares of Corning Incorporated $GLW

Pinnacle Associates Ltd. decreased its holdings in shares of Corning Incorporated (NYSE:GLW) by 2.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 297,649 shares of the electronics maker’s stock after selling 6,155 shares during the period. Pinnacle Associates Ltd.’s holdings in Corning were worth $24,416,000 at the end of the most recent reporting period.

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

Corning Stock Down 8.6%

Shares of Corning stock opened at $123.21 on Monday. Corning Incorporated has a 1 year low of $37.31 and a 1 year high of $162.10. The firm has a market cap of $105.71 billion, a price-to-earnings ratio of 66.96, a PEG ratio of 2.13 and a beta of 1.04. The company has a 50-day moving average of $113.50 and a 200 day moving average of $93.20. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.04.

Corning (NYSE:GLW) last posted its quarterly earnings data on Wednesday, January 28th. The electronics maker reported $0.72 EPS for the quarter, topping the consensus estimate of $0.71 by $0.01. The business had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.35 billion. Corning had a net margin of 10.21% and a return on equity of 18.72%. Corning’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.57 earnings per share. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. As a group, sell-side analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, February 27th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, February 27th. Corning’s payout ratio is currently 60.87%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Weiss Ratings raised shares of Corning from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 17th. JPMorgan Chase & Co. increased their price target on shares of Corning from $100.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 28th. Citigroup raised their price objective on shares of Corning from $120.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Fox Advisors cut Corning from an “overweight” rating to an “equal weight” rating in a research report on Thursday, January 29th. Finally, Morgan Stanley increased their target price on Corning from $103.00 to $127.00 and gave the stock an “equal weight” rating in a research report on Monday, February 23rd. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Corning currently has an average rating of “Moderate Buy” and an average target price of $125.42.

Insider Buying and Selling

In other Corning news, EVP Lewis A. Steverson sold 15,366 shares of the business’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $130.22, for a total value of $2,000,960.52. Following the sale, the executive vice president directly owned 3,461 shares of the company’s stock, valued at approximately $450,691.42. The trade was a 81.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP John Z. Zhang sold 1,531 shares of the stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $133.75, for a total value of $204,771.25. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 233,201 shares of company stock worth $32,614,558 over the last three months. Corporate insiders own 0.32% of the company’s stock.

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.