Atalanta Sosnoff Capital LLC Reduces Stock Holdings in Corning Incorporated $GLW

Atalanta Sosnoff Capital LLC lessened its stake in shares of Corning Incorporated (NYSE:GLW) by 27.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 11,010 shares of the electronics maker’s stock after selling 4,242 shares during the quarter. Atalanta Sosnoff Capital LLC’s holdings in Corning were worth $964,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in Corning in the 3rd quarter valued at about $25,000. Berbice Capital Management LLC acquired a new position in shares of Corning in the 4th quarter valued at approximately $26,000. Basepoint Wealth LLC acquired a new position in shares of Corning in the 4th quarter valued at approximately $26,000. Litman Gregory Wealth Management LLC acquired a new stake in shares of Corning during the 4th quarter valued at approximately $31,000. Finally, Evolution Wealth Management Inc. grew its stake in Corning by 58.8% during the 4th quarter. Evolution Wealth Management Inc. now owns 381 shares of the electronics maker’s stock worth $33,000 after buying an additional 141 shares during the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Insider Transactions at Corning

In other news, SVP Jaymin Amin sold 27,395 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the transaction, the senior vice president owned 94,400 shares in the company, valued at approximately $18,138,016. This trade represents a 22.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP John Z. Zhang sold 10,000 shares of Corning stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $198.34, for a total value of $1,983,400.00. Following the sale, the vice president directly owned 5,138 shares of the company’s stock, valued at approximately $1,019,070.92. The trade was a 66.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 160,655 shares of company stock valued at $30,692,561. Company insiders own 0.25% of the company’s stock.

Corning Stock Up 1.9%

GLW stock opened at $179.85 on Friday. The business has a 50-day moving average of $177.15 and a 200-day moving average of $133.67. Corning Incorporated has a fifty-two week low of $49.47 and a fifty-two week high of $211.79. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. The stock has a market capitalization of $154.79 billion, a P/E ratio of 86.05, a P/E/G ratio of 2.53 and a beta of 1.15.

Corning (NYSE:GLW) last issued its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The firm had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same period in the prior year, the firm posted $0.54 earnings per share. The business’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 anticipate that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Friday, May 29th will be paid a $0.28 dividend. The ex-dividend date is Friday, May 29th. This represents a $1.12 annualized dividend and a yield of 0.6%. Corning’s dividend payout ratio is currently 53.59%.

Analysts Set New Price Targets

GLW has been the subject of several recent analyst reports. Truist Financial increased their price target on Corning from $125.00 to $149.00 and gave the stock a “hold” rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. raised their target price on Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. UBS Group raised their target price on Corning from $223.00 to $228.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Morgan Stanley set a $180.00 price objective on Corning in a research report on Friday, May 8th. Finally, Barclays lifted their target price on Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Corning currently has a consensus rating of “Moderate Buy” and a consensus price target of $178.31.

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.