Praxis Investment Management Inc. Trims Stock Position in Corning Incorporated $GLW

Praxis Investment Management Inc. lessened its stake in Corning Incorporated (NYSE:GLW) by 7.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,320 shares of the electronics maker’s stock after selling 2,570 shares during the period. Praxis Investment Management Inc.’s holdings in Corning were worth $4,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Koshinski Asset Management Inc. lifted its holdings in shares of Corning by 8.0% in the 1st quarter. Koshinski Asset Management Inc. now owns 9,219 shares of the electronics maker’s stock valued at $1,253,000 after purchasing an additional 681 shares during the last quarter. Beacon Financial Advisory LLC purchased a new position in Corning during the 1st quarter worth approximately $240,000. QRG Capital Management Inc. increased its position in Corning by 58.7% during the first quarter. QRG Capital Management Inc. now owns 112,932 shares of the electronics maker’s stock worth $15,355,000 after buying an additional 41,785 shares during the period. HB Wealth Management LLC increased its position in Corning by 3.3% during the first quarter. HB Wealth Management LLC now owns 72,301 shares of the electronics maker’s stock worth $9,831,000 after buying an additional 2,291 shares during the period. Finally, Moran Wealth Management LLC purchased a new position in shares of Corning during the first quarter worth approximately $408,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Insider Transactions at Corning

In other Corning news, SVP Michaune D. Tillman sold 3,260 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $207.02, for a total value of $674,885.20. Following the sale, the senior vice president directly owned 10,174 shares in the company, valued at approximately $2,106,221.48. This trade represents a 24.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP John Z. Zhang sold 10,000 shares of Corning stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $198.34, for a total value of $1,983,400.00. Following the sale, the vice president directly owned 5,138 shares in the company, valued at approximately $1,019,070.92. This trade represents a 66.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 160,655 shares of company stock valued at $30,692,560 over the last ninety days. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on GLW shares. Oppenheimer lifted their target price on Corning from $120.00 to $210.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Truist Financial lifted their price objective on Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a report on Monday, June 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corning in a research note on Friday, May 15th. Morgan Stanley set a $180.00 price objective on shares of Corning in a research report on Friday, May 8th. Finally, Zacks Research downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $186.46.

Corning Trading Down 0.3%

Shares of Corning stock opened at $196.12 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. The firm has a market cap of $168.79 billion, a PE ratio of 93.84, a P/E/G ratio of 2.82 and a beta of 1.09. The business’s fifty day moving average is $190.59 and its two-hundred day moving average is $146.38. Corning Incorporated has a fifty-two week low of $51.32 and a fifty-two week high of $271.78.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The company had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same period in the previous year, the company earned $0.54 EPS. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Analysts anticipate that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Announces Dividend

The firm 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. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a yield of 0.6%. Corning’s payout ratio is currently 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.