Oppenheimer Asset Management Inc. Sells 138,906 Shares of Corning Incorporated $GLW

Oppenheimer Asset Management Inc. reduced its stake in shares of Corning Incorporated (NYSE:GLW) by 20.8% during the third quarter, Holdings Channel reports. The institutional investor owned 528,598 shares of the electronics maker’s stock after selling 138,906 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Corning were worth $43,361,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Francis Financial Inc. raised its stake in Corning by 2.1% during the 3rd quarter. Francis Financial Inc. now owns 21,473 shares of the electronics maker’s stock worth $1,853,000 after acquiring an additional 436 shares during the period. Waterfront Wealth Inc. purchased a new position in shares of Corning in the third quarter valued at about $291,000. Lantz Financial LLC bought a new position in shares of Corning in the third quarter worth about $405,000. Atlanta Consulting Group Advisors LLC purchased a new stake in shares of Corning during the third quarter worth about $298,000. Finally, Collier Financial purchased a new stake in shares of Corning during the third quarter worth about $79,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

Corning Price Performance

GLW stock opened at $122.31 on Monday. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $122.56. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. The company has a fifty day simple moving average of $92.96 and a two-hundred day simple moving average of $82.44. The firm has a market capitalization of $104.86 billion, a P/E ratio of 66.47, a price-to-earnings-growth ratio of 2.12 and a beta of 1.13.

Corning (NYSE:GLW) last announced its quarterly earnings results on Wednesday, January 28th. The electronics maker reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. The firm had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.35 billion. Corning had a net margin of 10.21% and a return on equity of 18.72%. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.57 EPS. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. Analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Corning

In other news, insider Eric S. Musser sold 25,000 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $110.00, for a total value of $2,750,000.00. Following the completion of the sale, the insider owned 19,926 shares in the company, valued at approximately $2,191,860. This trade represents a 55.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Edward A. Schlesinger sold 21,104 shares of the company’s stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $104.55, for a total value of $2,206,423.20. Following the transaction, the chief financial officer directly owned 54,780 shares in the company, valued at approximately $5,727,249. This represents a 27.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 55,945 shares of company stock worth $6,072,986 over the last quarter. Insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GLW. Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 21st. Oppenheimer set a $120.00 target price on shares of Corning in a report on Thursday, January 29th. Morgan Stanley upped their target price on shares of Corning from $98.00 to $103.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 29th. Weiss Ratings downgraded shares of Corning from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, January 27th. Finally, Citigroup increased their price objective on shares of Corning from $102.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Nine research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $112.36.

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.