Telemark Asset Management LLC Sells 40,000 Shares of Corning Incorporated $GLW

Telemark Asset Management LLC cut its holdings in shares of Corning Incorporated (NYSE:GLW) by 16.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 200,000 shares of the electronics maker’s stock after selling 40,000 shares during the period. Corning makes up 1.7% of Telemark Asset Management LLC’s holdings, making the stock its 17th biggest holding. Telemark Asset Management LLC’s holdings in Corning were worth $17,512,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Comprehensive Financial Planning Inc. PA bought a new position in shares of Corning during the fourth quarter valued at approximately $161,000. XML Financial LLC bought a new position in shares of Corning during the fourth quarter valued at approximately $205,000. Nemes Rush Group LLC boosted its stake in shares of Corning by 11.5% during the fourth quarter. Nemes Rush Group LLC now owns 9,911 shares of the electronics maker’s stock valued at $868,000 after purchasing an additional 1,021 shares in the last quarter. Havemeyer Place LP bought a new position in shares of Corning during the fourth quarter valued at approximately $2,644,000. Finally, Peachtree Investment Partners LLC bought a new position in shares of Corning during the fourth quarter valued at approximately $343,000. 69.80% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on GLW. Susquehanna increased their target price on shares of Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research report on Wednesday, April 29th. Wall Street Zen cut shares of Corning from a “buy” rating to a “hold” rating in a research report on Saturday. JPMorgan Chase & Co. increased their target price on shares of Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Morgan Stanley set a $180.00 target price on shares of Corning in a research report on Friday, May 8th. Finally, Barclays increased their target price on shares of Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $178.31.

Corning Trading Down 10.2%

Shares of Corning stock opened at $177.52 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. Corning Incorporated has a 12-month low of $49.47 and a 12-month high of $211.79. The firm has a market capitalization of $152.78 billion, a price-to-earnings ratio of 84.94, a PEG ratio of 2.54 and a beta of 1.15. The firm’s 50 day simple moving average is $173.00 and its two-hundred day simple moving average is $130.26.

Corning (NYSE:GLW) last issued its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The business had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. Corning’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 business posted $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Analysts predict that Corning Incorporated will post 3.19 EPS for the current year.

Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, May 29th. Corning’s dividend payout ratio is 53.59%.

Insider Buying and Selling at Corning

In other news, SVP Soumya Seetharam sold 20,000 shares of the company’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 sale, the senior vice president directly owned 25,570 shares of the company’s stock, valued at $5,273,301.10. This represents a 43.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michaune D. Tillman sold 3,260 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $207.02, for a total transaction of $674,885.20. Following the completion of the sale, the senior vice president directly owned 10,174 shares in the company, valued at $2,106,221.48. This trade represents a 24.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 60,655 shares of company stock valued at $12,046,561 over the last quarter. Insiders own 0.25% 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.