Brant Point Investment Management LLC Sells 6,000 Shares of Corning Incorporated $GLW

Brant Point Investment Management LLC lowered its stake in shares of Corning Incorporated (NYSE:GLW) by 8.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 66,934 shares of the electronics maker’s stock after selling 6,000 shares during the period. Corning makes up approximately 0.7% of Brant Point Investment Management LLC’s holdings, making the stock its 18th biggest position. Brant Point Investment Management LLC’s holdings in Corning were worth $5,861,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in Corning during the 3rd quarter valued at about $25,000. Berbice Capital Management LLC bought a new position in Corning during the 4th quarter valued at about $26,000. Basepoint Wealth LLC bought a new position in Corning during the 4th quarter valued at about $26,000. Litman Gregory Wealth Management LLC bought a new position in Corning during the 4th quarter valued at about $31,000. Finally, Evolution Wealth Management Inc. lifted 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 valued at $33,000 after acquiring an additional 141 shares during the period. Institutional investors own 69.80% of the company’s stock.

Corning Price Performance

Shares of NYSE:GLW opened at $179.85 on Friday. The firm’s 50 day moving average price is $177.15 and its 200-day moving average price is $133.67. Corning Incorporated has a twelve month low of $49.47 and a twelve month high of $211.79. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $154.79 billion, a PE ratio of 86.05, a price-to-earnings-growth ratio of 2.56 and a beta of 1.15.

Corning (NYSE:GLW) last issued its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The firm had revenue of $4.35 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter in the prior year, the business earned $0.54 EPS. The business’s quarterly revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Equities research analysts expect that Corning Incorporated will post 3.19 EPS for the current year.

Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Friday, May 29th will be paid a dividend of $0.28 per share. The ex-dividend date is Friday, May 29th. This represents a $1.12 dividend on an annualized basis and a yield of 0.6%. Corning’s dividend payout ratio (DPR) is presently 53.59%.

Insider Activity at Corning

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the firm’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 transaction of $18,646,000.00. Following the sale, the chief executive officer owned 908,353 shares in the company, valued at approximately $169,371,500.38. This trade represents a 9.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Soumya Seetharam sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the sale, the senior vice president owned 25,570 shares in the company, valued at approximately $5,273,301.10. The trade was a 43.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 160,655 shares of company stock worth $30,692,561 in the last 90 days. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on GLW shares. Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Mizuho raised their price target on Corning from $190.00 to $220.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. UBS Group raised their price target on Corning from $223.00 to $228.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. Wall Street Zen downgraded Corning from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Finally, Susquehanna raised their price target on Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research note on Wednesday, April 29th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $178.31.

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.