Corning Incorporated $GLW Shares Sold by Powell Investment Advisors LLC

Powell Investment Advisors LLC cut its holdings in shares of Corning Incorporated (NYSE:GLW) by 44.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,457 shares of the electronics maker’s stock after selling 1,995 shares during the period. Powell Investment Advisors LLC’s holdings in Corning were worth $334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in Corning during the 3rd quarter worth about $25,000. Berbice Capital Management LLC purchased a new stake in shares of Corning in the fourth quarter worth about $26,000. Basepoint Wealth LLC purchased a new stake in shares of Corning in the fourth quarter worth about $26,000. Kemnay Advisory Services Inc. purchased a new position in Corning during the fourth quarter valued at approximately $27,000. Finally, Litman Gregory Wealth Management LLC purchased a new position in Corning during the fourth quarter valued at approximately $31,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Corning news, SVP Jaymin Amin sold 27,395 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was 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 in the company, valued at approximately $18,138,016. The trade was a 22.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at $169,371,500.38. The trade was a 9.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 160,655 shares of company stock worth $30,692,560 in the last quarter. 0.25% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on GLW shares. Mizuho upped their price objective on Corning from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. Bank of America boosted their target price on shares of Corning from $155.00 to $186.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Barclays increased their price target on shares of Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Wall Street Zen cut shares of Corning from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $182.62.

Corning Price Performance

Corning stock opened at $255.79 on Tuesday. The stock has a market capitalization of $220.14 billion, a P/E ratio of 122.39, a P/E/G ratio of 3.16 and a beta of 1.15. The company’s fifty day moving average price is $186.49 and its 200 day moving average price is $143.26. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. Corning Incorporated has a 1 year low of $51.32 and a 1 year high of $258.80.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The company had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same period in the prior year, the business posted $0.54 earnings per share. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, equities research analysts anticipate that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be paid a $0.28 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a yield of 0.4%. Corning’s dividend payout ratio (DPR) is currently 53.59%.

About Corning

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.