Corning Incorporated $GLW Shares Sold by USA Financial Formulas

USA Financial Formulas lessened its holdings in shares of Corning Incorporated (NYSE:GLW) by 39.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,630 shares of the electronics maker’s stock after selling 3,039 shares during the period. USA Financial Formulas’ holdings in Corning were worth $630,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Merit Financial Group LLC boosted its position in Corning by 16.9% during the 4th quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker’s stock valued at $3,940,000 after purchasing an additional 6,493 shares during the period. Security National Bank increased its position in Corning by 340.4% in the fourth quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock worth $6,350,000 after buying an additional 56,056 shares during the period. Herbst Group LLC acquired a new stake in Corning in the second quarter worth $4,474,000. Principal Financial Group Inc. lifted its stake in Corning by 1.2% in the first quarter. Principal Financial Group Inc. now owns 893,451 shares of the electronics maker’s stock valued at $121,483,000 after buying an additional 10,591 shares during the last quarter. Finally, Wealthfront Advisers LLC lifted its stake in Corning by 36.2% in the first quarter. Wealthfront Advisers LLC now owns 92,425 shares of the electronics maker’s stock valued at $12,567,000 after buying an additional 24,589 shares during the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insider Buying and Selling

In other news, CEO Wendell P. Weeks sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total value of $18,646,000.00. Following the completion of the sale, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at approximately $169,371,500.38. This represents a 9.92% decrease in their position. 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 shares were sold at an average price of $192.14, for a total transaction 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. This trade represents a 22.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

GLW has been the subject of several recent research reports. Truist Financial upgraded shares of Corning from a “hold” rating to a “buy” rating and lowered their price target for the stock from $205.00 to $175.00 in a research report on Sunday, August 2nd. Mizuho cut their price objective on shares of Corning from $270.00 to $210.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th. Morgan Stanley reduced their target price on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 29th. Wall Street Zen cut shares of Corning from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Finally, UBS Group restated a “buy” rating and issued a $196.00 price target on shares of Corning in a research note on Wednesday, July 29th. Eleven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $174.08.

Corning Trading Up 4.6%

NYSE:GLW opened at $165.85 on Friday. The stock has a market cap of $142.86 billion, a price-to-earnings ratio of 75.73, a PEG ratio of 2.12 and a beta of 1.14. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. Corning Incorporated has a 1 year low of $63.37 and a 1 year high of $271.78. The business has a fifty day moving average of $176.82 and a 200-day moving average of $161.45.

Corning (NYSE:GLW) last issued its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. The business had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. The company’s revenue was up 17.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities analysts predict that Corning Incorporated will post 3.27 earnings per share for the current year.

Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, August 31st. Corning’s payout ratio is 51.14%.

Corning 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.