Equitable Holdings Inc. Has $17.26 Million Stock Position in Corning Incorporated $GLW

Equitable Holdings Inc. lowered its holdings in shares of Corning Incorporated (NYSE:GLW) by 19.7% in the 2nd quarter, Holdings Channel.com reports. The fund owned 67,557 shares of the electronics maker’s stock after selling 16,613 shares during the period. Equitable Holdings Inc.’s holdings in Corning were worth $17,256,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of GLW. Berbice Capital Management LLC acquired a new position in Corning during the 4th quarter worth about $26,000. Basepoint Wealth LLC acquired a new position in shares of Corning in the fourth quarter worth approximately $26,000. Atwood & Palmer Inc. bought a new stake in Corning in the second quarter valued at approximately $26,000. Kemnay Advisory Services Inc. acquired a new stake in Corning during the 4th quarter valued at approximately $27,000. Finally, Litman Gregory Wealth Management LLC bought a new position in Corning during the 4th quarter worth approximately $31,000. Institutional investors own 69.80% of the company’s stock.

Insider Activity

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 in the company, valued at $169,371,500.38. This represents a 9.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.25% of the stock is currently owned by insiders.

Corning Trading Down 0.0%

NYSE:GLW opened at $152.72 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24. Corning Incorporated has a one year low of $66.14 and a one year high of $271.78. The company has a market cap of $131.55 billion, a PE ratio of 69.73, a PEG ratio of 1.96 and a beta of 1.14. The firm has a 50-day moving average of $172.11 and a 200-day moving average of $164.71.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.02. The business had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, equities research analysts expect that Corning Incorporated will post 3.27 EPS for the current fiscal year.

Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s payout ratio is currently 51.14%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GLW. UBS Group reaffirmed a “buy” rating and issued a $196.00 price objective on shares of Corning in a research note on Wednesday, July 29th. Wall Street Zen lowered Corning from a “buy” rating to a “hold” rating in a research note on Monday. Bank of America increased their price target on Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a report on Monday, July 6th. Barclays reduced their price objective on shares of Corning from $180.00 to $129.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 29th. Finally, Citigroup lowered their price objective on shares of Corning from $240.00 to $220.00 and set a “buy” rating for the company in a research note on Wednesday, July 29th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $174.08.

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.