Cornerstone Capital Inc. Reduces Stock Holdings in Corning Incorporated $GLW

Cornerstone Capital Inc. trimmed its stake in shares of Corning Incorporated (NYSE:GLW) by 2.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 646,572 shares of the electronics maker’s stock after selling 19,117 shares during the quarter. Corning makes up about 5.2% of Cornerstone Capital Inc.’s portfolio, making the stock its 2nd biggest position. Cornerstone Capital Inc.’s holdings in Corning were worth $53,038,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Cary Street Partners Investment Advisory LLC increased its stake in Corning by 38.3% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 866 shares of the electronics maker’s stock valued at $71,000 after buying an additional 240 shares during the period. Legacy Financial Advisors Inc. acquired a new stake in shares of Corning during the 3rd quarter valued at $227,000. Iat Reinsurance Co. LTD. grew its holdings in shares of Corning by 0.3% during the 3rd quarter. Iat Reinsurance Co. LTD. now owns 368,350 shares of the electronics maker’s stock valued at $30,216,000 after acquiring an additional 1,000 shares in the last quarter. Sound View Wealth Advisors Group LLC increased its stake in shares of Corning by 8.9% in the third quarter. Sound View Wealth Advisors Group LLC now owns 6,659 shares of the electronics maker’s stock worth $546,000 after acquiring an additional 543 shares during the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ increased its stake in shares of Corning by 4.9% in the third quarter. Lansforsakringar Fondforvaltning AB publ now owns 261,749 shares of the electronics maker’s stock worth $21,471,000 after acquiring an additional 12,297 shares during the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GLW. Mizuho set a $145.00 price objective on Corning in a research report on Monday. Oppenheimer set a $120.00 price target on Corning in a report on Thursday, January 29th. Citigroup boosted their price target on Corning from $102.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Wall Street Zen raised shares of Corning from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Finally, Wolfe Research set a $130.00 target price on shares of Corning and gave the company an “outperform” rating in a research note on Tuesday, January 27th. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $121.25.

Corning Stock Up 4.0%

Shares of GLW stock opened at $145.08 on Tuesday. The stock’s 50 day simple moving average is $102.97 and its 200 day simple moving average is $88.05. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.04 and a current ratio of 1.59. Corning Incorporated has a twelve month low of $37.31 and a twelve month high of $148.70. The company has a market capitalization of $124.47 billion, a price-to-earnings ratio of 78.85, a PEG ratio of 2.42 and a beta of 1.13.

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

Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Friday, February 27th will be paid a $0.28 dividend. The ex-dividend date is Friday, February 27th. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. Corning’s dividend payout ratio (DPR) is presently 60.87%.

Insider Transactions at Corning

In related news, insider Eric S. Musser sold 25,000 shares of the company’s stock in a transaction on 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 transaction, the insider directly owned 19,926 shares in the company, valued at $2,191,860. This represents a 55.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Avery H. Nelson III sold 6,262 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $129.79, for a total transaction of $812,744.98. Following the transaction, the chief operating officer directly owned 61,371 shares of the company’s stock, valued at $7,965,342.09. This represents a 9.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 95,687 shares of company stock worth $11,249,008. Corporate insiders own 0.32% of the company’s stock.

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.