Public Employees Retirement System of Ohio Has $35.35 Million Stock Position in Corning Incorporated $GLW

Public Employees Retirement System of Ohio cut its position in Corning Incorporated (NYSE:GLW) by 6.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 259,978 shares of the electronics maker’s stock after selling 17,116 shares during the period. Public Employees Retirement System of Ohio’s holdings in Corning were worth $35,349,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GLW. Compound Planning Inc. boosted its holdings in Corning by 8.2% in the first quarter. Compound Planning Inc. now owns 10,419 shares of the electronics maker’s stock worth $1,417,000 after acquiring an additional 793 shares in the last quarter. Klingman & Associates LLC increased its holdings in shares of Corning by 3.0% during the first quarter. Klingman & Associates LLC now owns 7,972 shares of the electronics maker’s stock valued at $1,084,000 after acquiring an additional 235 shares in the last quarter. Modern Wealth Management LLC increased its holdings in shares of Corning by 13.1% during the first quarter. Modern Wealth Management LLC now owns 7,550 shares of the electronics maker’s stock valued at $1,075,000 after acquiring an additional 876 shares in the last quarter. Volterra Technologies LP acquired a new position in shares of Corning during the first quarter worth approximately $247,000. Finally, Orleans Capital Management Corp LA raised its position in shares of Corning by 81.7% during the first quarter. Orleans Capital Management Corp LA now owns 11,218 shares of the electronics maker’s stock worth $1,525,000 after purchasing an additional 5,045 shares during the period. 69.80% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP Jaymin Amin sold 27,395 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the transaction, the senior vice president directly owned 94,400 shares in the company, valued at approximately $18,138,016. The trade was a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP John Z. Zhang sold 10,000 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the completion of the sale, the vice president directly owned 5,138 shares of the company’s stock, valued at $1,019,070.92. The trade was a 66.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 160,655 shares of company stock valued at $30,692,560 over the last 90 days. 0.25% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on GLW shares. Morgan Stanley set a $180.00 target price on Corning in a report on Friday, May 8th. Truist Financial upped their price objective on shares of Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a report on Monday, June 22nd. Citigroup raised their price objective on shares of Corning from $225.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Corning in a report on Friday, May 15th. Finally, Wall Street Zen raised shares of Corning from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Corning has an average rating of “Moderate Buy” and an average target price of $194.69.

Corning Stock Down 6.1%

Shares of NYSE:GLW opened at $146.57 on Friday. The business’s 50 day moving average is $188.01 and its 200 day moving average is $155.14. Corning Incorporated has a 12-month low of $54.89 and a 12-month high of $271.78. The stock has a market cap of $126.14 billion, a price-to-earnings ratio of 70.13, a PEG ratio of 2.05 and a beta of 1.09. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same period in the prior year, the firm posted $0.54 EPS. Corning’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. On average, sell-side analysts forecast that Corning Incorporated will post 3.18 earnings per share for the current fiscal year.

Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be paid a $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. Corning’s dividend payout ratio is presently 53.59%.

Corning Company Profile

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.