LGT Group Foundation Sells 79,599 Shares of Corning Incorporated $GLW

LGT Group Foundation lowered its stake in Corning Incorporated (NYSE:GLW) by 20.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 313,564 shares of the electronics maker’s stock after selling 79,599 shares during the quarter. LGT Group Foundation’s holdings in Corning were worth $26,063,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in GLW. Brighton Jones LLC boosted its stake in shares of Corning by 46.0% in the 4th quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock worth $319,000 after buying an additional 2,114 shares during the last quarter. Retirement Planning Co of New England Inc. purchased a new stake in Corning during the first quarter valued at $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Corning by 9.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock valued at $2,962,000 after acquiring an additional 5,522 shares during the last quarter. Sivia Capital Partners LLC bought a new position in Corning in the second quarter valued at about $401,000. Finally, Schnieders Capital Management LLC. purchased a new position in Corning in the second quarter worth about $266,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Corning Stock Down 8.6%

GLW stock opened at $123.21 on Monday. The business’s 50-day moving average price is $113.50 and its 200-day moving average price is $93.20. The stock has a market cap of $105.71 billion, a P/E ratio of 66.96, a PEG ratio of 2.13 and a beta of 1.04. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. Corning Incorporated has a twelve month low of $37.31 and a twelve month high of $162.10.

Corning (NYSE:GLW) last released its earnings results on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share (EPS) for the quarter, topping 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 company had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.35 billion. During the same period in the prior year, the firm posted $0.57 EPS. The firm’s quarterly 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. On average, equities research analysts forecast that Corning Incorporated will post 2.33 EPS for the current 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 paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.9%. Corning’s dividend payout ratio is 60.87%.

Insider Activity

In related news, COO Avery H. Nelson III sold 1,583 shares of the company’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $128.74, for a total value of $203,795.42. Following the completion of the transaction, the chief operating officer owned 59,788 shares of the company’s stock, valued at approximately $7,697,107.12. This represents a 2.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Wendell P. Weeks sold 137,514 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $155.37, for a total value of $21,365,550.18. Following the sale, the chief executive officer directly owned 750,585 shares in the company, valued at approximately $116,618,391.45. This represents a 15.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 233,201 shares of company stock worth $32,614,558. 0.32% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GLW shares. Oppenheimer set a $120.00 price target on Corning in a research note on Thursday, January 29th. Susquehanna raised their price objective on shares of Corning from $100.00 to $125.00 and gave the stock a “positive” rating in a report on Thursday, January 29th. JPMorgan Chase & Co. boosted their target price on shares of Corning from $100.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, January 28th. HSBC reaffirmed a “buy” rating and set a $135.00 target price on shares of Corning in a report on Friday, February 13th. Finally, UBS Group increased their price target on shares of Corning from $125.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $125.42.

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.