Foster & Motley Inc. Sells 20,322 Shares of Corning Incorporated $GLW

Foster & Motley Inc. lessened its position in Corning Incorporated (NYSE:GLW) by 23.3% during the first quarter, Holdings Channel reports. The institutional investor owned 67,079 shares of the electronics maker’s stock after selling 20,322 shares during the quarter. Foster & Motley Inc.’s holdings in Corning were worth $9,121,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Berbice Capital Management LLC bought a new position in shares of Corning during the 4th quarter worth approximately $26,000. Basepoint Wealth LLC bought a new stake in shares of Corning in the fourth quarter worth $26,000. MBM Wealth Consultants LLC bought a new stake in shares of Corning in the first quarter worth $42,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in Corning during the third quarter worth $25,000. Finally, Kemnay Advisory Services Inc. acquired a new position in Corning during the fourth quarter worth $27,000. Institutional investors own 69.80% of the company’s stock.

Corning Stock Performance

Shares of GLW stock opened at $228.14 on Friday. The company has a fifty day moving average price of $183.60 and a two-hundred day moving average price of $141.15. Corning Incorporated has a one year low of $51.32 and a one year high of $230.50. The stock has a market cap of $196.35 billion, a P/E ratio of 109.16, a P/E/G ratio of 2.95 and a beta of 1.15. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06.

Corning (NYSE:GLW) last released its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.01. The company had revenue of $4.34 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 period in the previous year, the business earned $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, equities analysts predict that Corning Incorporated will post 3.19 EPS for the current year.

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders 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 0.5%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s payout ratio is 53.59%.

Insider Activity

In other news, VP John Z. Zhang sold 10,000 shares of Corning 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 transaction, the vice president directly owned 5,138 shares in the company, valued at approximately $1,019,070.92. The trade was a 66.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Soumya Seetharam sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $206.23, for a total value of $4,124,600.00. Following the transaction, the senior vice president directly owned 25,570 shares in the company, valued at $5,273,301.10. The trade was a 43.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 160,655 shares of company stock valued at $30,692,560. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. UBS Group lifted their price target on shares of Corning from $223.00 to $228.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Barclays raised their price objective on Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Morgan Stanley set a $180.00 target price on Corning in a research report on Friday, May 8th. Zacks Research lowered Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Corning currently has an average rating of “Moderate Buy” and an average target price of $182.62.

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.