Corning Incorporated $GLW Shares Sold by Whittier Trust Co.

Whittier Trust Co. cut its stake in shares of Corning Incorporated (NYSE:GLW) by 14.1% in the 1st quarter, Holdings Channel reports. The fund owned 18,242 shares of the electronics maker’s stock after selling 3,000 shares during the quarter. Whittier Trust Co.’s holdings in Corning were worth $2,672,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Berbice Capital Management LLC acquired a new position in shares of Corning in the fourth quarter valued at approximately $26,000. Basepoint Wealth LLC purchased a new stake in shares of Corning during the fourth quarter worth approximately $26,000. MBM Wealth Consultants LLC acquired a new stake in shares of Corning during the first quarter worth $42,000. Kemnay Advisory Services Inc. purchased a new position in Corning in the 4th quarter valued at $27,000. Finally, Litman Gregory Wealth Management LLC purchased a new position in Corning in the 4th quarter valued at $31,000. 69.80% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Corning

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Bank of America raised its price target on Corning to $243 from $223 and reiterated a Buy rating, signaling confidence in upside from current levels. Benzinga report on Bank of America target hike
• Positive Sentiment: Multiple analysts remain bullish, arguing that demand in Corning’s optical networking business is still strong despite the broader AI-related selloff. Barron’s article on AI selloff opportunity
• Positive Sentiment: Analysts also point to Corning’s next-generation automotive glass and ceramic technologies as a longer-term growth driver tied to electric, connected, and autonomous vehicles. Yahoo Finance article on automotive solutions
• Positive Sentiment: Several recent notes describe Corning as a buy-the-dip candidate after its sharp decline from recent highs, suggesting some investors see value in the selloff. MSN article on buying the dip
• Neutral Sentiment: Coverage around Corning’s Q2 preview suggests the company’s optical business could support revenue and EPS near or above guidance, but this is largely an earnings expectation rather than a new catalyst. Yahoo Finance article on Q2 preview
• Negative Sentiment: The stock has been under pressure for several sessions, with reports describing a steep multi-day pullback as investors rotate out of AI-related trades. Invezz article on Corning stock falling

Corning Trading Down 5.0%

NYSE:GLW opened at $185.16 on Wednesday. The stock has a fifty day moving average price of $191.28 and a two-hundred day moving average price of $148.25. The stock has a market capitalization of $159.35 billion, a price-to-earnings ratio of 88.59, a PEG ratio of 2.79 and a beta of 1.09. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. Corning Incorporated has a 1 year low of $51.32 and a 1 year high of $271.78.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $4.30 billion. During the same period in the previous year, the firm earned $0.54 EPS. The business’s revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, sell-side analysts anticipate that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a yield of 0.6%. Corning’s payout ratio is currently 53.59%.

Analysts Set New Price Targets

A number of brokerages have commented on GLW. Susquehanna upped their price objective on shares of Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research report on Wednesday, April 29th. Oppenheimer lifted their target price on shares of Corning from $210.00 to $230.00 and gave the company an “outperform” rating in a report on Tuesday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Corning in a research note on Friday, May 15th. Bank of America increased their price target on shares of Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a report on Monday. Finally, Mizuho raised their price objective on shares of Corning from $220.00 to $270.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $193.54.

Insider Activity

In other news, CEO Wendell P. Weeks sold 100,000 shares of Corning stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the completion of the sale, the chief executive officer directly owned 908,353 shares in the company, valued at approximately $169,371,500.38. This trade represents a 9.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michaune D. Tillman sold 3,260 shares of the business’s stock in a transaction that occurred 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 $2,106,221.48. This trade represents a 24.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 160,655 shares of company stock valued at $30,692,560 in the last quarter. Insiders own 0.25% of the company’s stock.

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.