Oppenheimer & Co. Inc. Reduces Stock Position in Corning Incorporated $GLW

Oppenheimer & Co. Inc. reduced its holdings in Corning Incorporated (NYSE:GLW) by 21.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 184,452 shares of the electronics maker’s stock after selling 50,244 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Corning were worth $15,131,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Strengthening Families & Communities LLC purchased a new stake in Corning in the third quarter worth about $27,000. Total Investment Management Inc. purchased a new stake in shares of Corning in the second quarter worth $28,000. Cornerstone Planning Group LLC grew its position in Corning by 58.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker’s stock valued at $30,000 after purchasing an additional 124 shares during the last quarter. Financial Management Professionals Inc. increased its position in shares of Corning by 111.1% during the third quarter. Financial Management Professionals Inc. now owns 380 shares of the electronics maker’s stock valued at $31,000 after acquiring an additional 200 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in shares of Corning in the 2nd quarter worth $36,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on GLW shares. JPMorgan Chase & Co. lifted their price target on shares of Corning from $100.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 28th. Weiss Ratings cut Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, January 27th. Fox Advisors cut shares of Corning from an “overweight” rating to an “equal weight” rating in a research note on Thursday, January 29th. Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 21st. Finally, Citigroup lifted their price target 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 analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $112.36.

Insider Activity

In other news, SVP Li Fang sold 9,797 shares of the business’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $113.51, for a total transaction of $1,112,057.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eric S. Musser sold 25,000 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $110.00, for a total transaction of $2,750,000.00. Following the completion of the sale, the insider directly owned 19,926 shares of the company’s stock, valued at approximately $2,191,860. This trade represents a 55.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 55,945 shares of company stock valued at $6,072,986. 0.32% of the stock is currently owned by company insiders.

Corning Stock Up 8.4%

Shares of GLW 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 business has a fifty day moving average of $92.96 and a 200 day moving average of $82.44. The company has a market cap of $104.86 billion, a PE ratio of 66.47, a P/E/G ratio of 2.12 and a beta of 1.13.

Corning (NYSE:GLW) last issued its quarterly earnings results on Wednesday, January 28th. The electronics maker reported $0.72 EPS for the quarter, beating the consensus estimate of $0.71 by $0.01. The company had revenue of $4.41 billion for 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 was up 13.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.57 EPS. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. On average, sell-side analysts expect that Corning Incorporated will post 2.33 EPS for the current year.

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.