Sei Investments Co. Sells 232,320 Shares of Corning Incorporated $GLW

Sei Investments Co. lowered its position in shares of Corning Incorporated (NYSE:GLW) by 26.4% during the first quarter, HoldingsChannel.com reports. The fund owned 647,504 shares of the electronics maker’s stock after selling 232,320 shares during the quarter. Sei Investments Co.’s holdings in Corning were worth $88,042,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of GLW. Merit Financial Group LLC boosted its stake in shares of Corning by 16.9% in the 4th quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker’s stock worth $3,940,000 after buying an additional 6,493 shares during the last quarter. Security National Bank increased its position in shares of Corning by 340.4% during the fourth quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock valued at $6,350,000 after acquiring an additional 56,056 shares during the last quarter. Wealthfront Advisers LLC increased its position in shares of Corning by 36.2% during the first quarter. Wealthfront Advisers LLC now owns 92,425 shares of the electronics maker’s stock valued at $12,567,000 after acquiring an additional 24,589 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Corning by 1.2% during the first quarter. Principal Financial Group Inc. now owns 893,451 shares of the electronics maker’s stock worth $121,483,000 after acquiring an additional 10,591 shares during the period. Finally, Three Seasons Wealth LLC bought a new stake in Corning during the fourth quarter worth $1,750,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Citigroup lifted their target price on Corning from $225.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Barclays increased their price target 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. Bank of America raised their price target on shares of Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a research note on Monday, July 6th. Wall Street Zen upgraded Corning from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Finally, Susquehanna increased their target price on Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research report on Wednesday, April 29th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Corning currently has an average rating of “Moderate Buy” and an average price target of $194.69.

Insider Buying and Selling

In other news, CEO Wendell P. Weeks sold 100,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer owned 908,353 shares of the company’s stock, valued at approximately $169,371,500.38. This represents a 9.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP John Z. Zhang sold 10,000 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the transaction, the vice president directly owned 5,138 shares in the company, valued at approximately $1,019,070.92. This represents a 66.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 160,655 shares of company stock worth $30,692,560 in the last ninety days. 0.25% of the stock is currently owned by insiders.

Corning Stock Performance

Shares of NYSE GLW opened at $146.57 on Friday. The stock’s 50-day moving average is $188.01 and its 200 day moving average is $155.14. The stock has a market cap of $126.14 billion, a price-to-earnings ratio of 70.13, a P/E/G ratio of 2.05 and a beta of 1.09. Corning Incorporated has a 1-year low of $54.89 and a 1-year high of $271.78. 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 (NYSE:GLW) last issued its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the prior year, the firm earned $0.54 earnings per share. Corning’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. On average, sell-side analysts anticipate that Corning Incorporated will post 3.18 EPS for the current fiscal year.

Corning Dividend Announcement

The firm also recently disclosed 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. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, August 31st. Corning’s 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.