Corning Incorporated $GLW Shares Sold by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp lowered its position in shares of Corning Incorporated (NYSE:GLW) by 29.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 189,122 shares of the electronics maker’s stock after selling 77,246 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Corning were worth $16,560,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in GLW. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in shares of Corning during the third quarter valued at approximately $25,000. Berbice Capital Management LLC acquired a new position in shares of Corning during the fourth quarter valued at approximately $26,000. Basepoint Wealth LLC acquired a new position in shares of Corning during the fourth quarter valued at approximately $26,000. Litman Gregory Wealth Management LLC acquired a new position in shares of Corning during the fourth quarter valued at approximately $31,000. Finally, Evolution Wealth Management Inc. raised its holdings in shares of Corning by 58.8% during the fourth quarter. Evolution Wealth Management Inc. now owns 381 shares of the electronics maker’s stock valued at $33,000 after acquiring an additional 141 shares during the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Wall Street Analyst Weigh In

GLW has been the subject of a number of research analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a report on Friday, May 15th. Barclays increased their price target on Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Citigroup increased their price target on Corning from $175.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, May 7th. JPMorgan Chase & Co. increased their price target on Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Finally, UBS Group increased their price target on Corning from $223.00 to $228.00 and gave the company a “buy” rating in a report on Friday, June 5th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Corning presently has an average rating of “Moderate Buy” and a consensus price target of $178.31.

Insider Buying and Selling

In related news, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total value of $18,646,000.00. Following the completion of the transaction, the chief executive officer directly owned 908,353 shares in the company, valued at approximately $169,371,500.38. This represents a 9.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Jaymin Amin sold 27,395 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president owned 94,400 shares of the company’s stock, valued at $18,138,016. The trade was a 22.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 160,655 shares of company stock valued at $30,692,561 in the last ninety days. Company insiders own 0.25% of the company’s stock.

Corning Price Performance

NYSE:GLW opened at $186.54 on Tuesday. Corning Incorporated has a one year low of $49.81 and a one year high of $211.79. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. The stock has a market cap of $160.54 billion, a PE ratio of 89.25, a P/E/G ratio of 2.56 and a beta of 1.15. The stock has a 50 day moving average price of $177.92 and a 200 day moving average price of $134.76.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating 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 firm had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter last year, the firm earned $0.54 earnings per share. The business’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. Equities research analysts expect that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, May 29th. 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.