Hilltop Holdings Inc. Sells 3,457 Shares of Corning Incorporated $GLW

Hilltop Holdings Inc. reduced its stake in shares of Corning Incorporated (NYSE:GLW) by 8.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,637 shares of the electronics maker’s stock after selling 3,457 shares during the quarter. Hilltop Holdings Inc.’s holdings in Corning were worth $4,846,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of GLW. Rockbridge Investment Management LCC bought a new stake in Corning in the 1st quarter valued at $217,000. GC Wealth Management RIA LLC increased its holdings in shares of Corning by 102.5% during the 1st quarter. GC Wealth Management RIA LLC now owns 8,517 shares of the electronics maker’s stock worth $1,158,000 after purchasing an additional 4,312 shares during the period. Compound Planning Inc. increased its holdings in shares of Corning by 8.2% during the 1st quarter. Compound Planning Inc. now owns 10,419 shares of the electronics maker’s stock worth $1,417,000 after purchasing an additional 793 shares during the period. Klingman & Associates LLC raised its position in shares of Corning by 3.0% during the first quarter. Klingman & Associates LLC now owns 7,972 shares of the electronics maker’s stock valued at $1,084,000 after buying an additional 235 shares during the last quarter. Finally, Modern Wealth Management LLC raised its position in shares of Corning by 13.1% during the first quarter. Modern Wealth Management LLC now owns 7,550 shares of the electronics maker’s stock valued at $1,075,000 after buying an additional 876 shares during the last quarter. 69.80% of the stock is owned by institutional investors.

Insider Buying and Selling at Corning

In other Corning news, SVP Jaymin Amin sold 27,395 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $192.14, for a total value of $5,263,675.30. Following the sale, the senior vice president directly owned 94,400 shares in the company, valued at $18,138,016. This represents a 22.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP John Z. Zhang sold 10,000 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $198.34, for a total value of $1,983,400.00. Following the transaction, the vice president owned 5,138 shares of the company’s stock, valued at $1,019,070.92. This represents a 66.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 160,655 shares of company stock worth $30,692,560 over the last three months. 0.25% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Truist Financial lifted their target price on Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a research report on Monday, June 22nd. Morgan Stanley set a $180.00 price target on Corning in a report on Friday, May 8th. Wall Street Zen upgraded Corning from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. UBS Group set a $243.00 price objective on Corning in a research report on Monday, July 6th. Finally, Susquehanna upped their target price on Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research note on Wednesday, April 29th. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $194.69.

Corning Stock Performance

NYSE GLW opened at $146.57 on Friday. Corning Incorporated has a twelve month low of $54.89 and a twelve month high of $271.78. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. The stock has a market cap of $126.14 billion, a P/E ratio of 70.13, a PEG ratio of 2.05 and a beta of 1.09. The company’s 50-day simple moving average is $188.01 and its 200 day simple moving average is $155.14.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The firm had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, research analysts forecast that Corning Incorporated will post 3.18 earnings per share for the current fiscal year.

Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued 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 dividend yield of 0.8%. Corning’s dividend payout ratio is presently 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.