SG Capital Management LLC Sells 184,401 Shares of Corning Incorporated $GLW

SG Capital Management LLC cut its holdings in shares of Corning Incorporated (NYSE:GLW) by 27.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 498,061 shares of the electronics maker’s stock after selling 184,401 shares during the quarter. Corning comprises approximately 3.6% of SG Capital Management LLC’s investment portfolio, making the stock its 6th biggest position. SG Capital Management LLC’s holdings in Corning were worth $40,856,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of GLW. Synovus Financial Corp lifted its position in Corning by 7.9% in the third quarter. Synovus Financial Corp now owns 30,927 shares of the electronics maker’s stock valued at $2,537,000 after buying an additional 2,253 shares during the last quarter. Bornite Capital Management LP acquired a new position in shares of Corning in the 3rd quarter worth approximately $68,085,000. MJP Associates Inc. ADV acquired a new position in shares of Corning in the 3rd quarter worth approximately $219,000. Essex Financial Services Inc. boosted its position in shares of Corning by 4.2% during the 3rd quarter. Essex Financial Services Inc. now owns 9,891 shares of the electronics maker’s stock worth $811,000 after purchasing an additional 401 shares during the period. Finally, First National Bank of Omaha acquired a new stake in Corning in the 3rd quarter valued at approximately $4,735,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Corning Price Performance

GLW stock opened at $132.25 on Thursday. Corning Incorporated has a 1 year low of $37.31 and a 1 year high of $136.82. The firm has a market capitalization of $113.46 billion, a P/E ratio of 71.88, a P/E/G ratio of 2.26 and a beta of 1.13. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.04. The business’s 50-day moving average is $100.12 and its two-hundred day moving average is $86.32.

Corning (NYSE:GLW) last issued its earnings results on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.01. Corning had a net margin of 10.21% and a return on equity of 18.72%. The firm had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.35 billion. During the same quarter last year, the company earned $0.57 earnings per share. The firm’s revenue was up 13.9% compared to the same quarter last year. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. Analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, February 27th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, February 27th. Corning’s payout ratio is 60.87%.

Insider Activity

In related news, COO Avery H. Nelson III sold 6,262 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $129.79, for a total value of $812,744.98. Following the transaction, the chief operating officer owned 61,371 shares of the company’s stock, valued at $7,965,342.09. This represents a 9.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Edward A. Schlesinger sold 21,104 shares of Corning stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $104.55, for a total value of $2,206,423.20. Following the sale, the chief financial officer directly owned 54,780 shares of the company’s stock, valued at $5,727,249. This trade represents a 27.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 95,687 shares of company stock valued at $11,249,008. Insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on GLW shares. Argus upped their price target on Corning from $68.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. JPMorgan Chase & Co. increased their target price on Corning from $100.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 28th. Citigroup lifted their target price on Corning from $102.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. Zacks Research lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 21st. Finally, Weiss Ratings raised shares of Corning from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $114.25.

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.