Alight Capital Management LP Sells 20,000 Shares of Corning Incorporated $GLW

Alight Capital Management LP cut its stake in Corning Incorporated (NYSE:GLW) by 40.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 30,000 shares of the electronics maker’s stock after selling 20,000 shares during the period. Alight Capital Management LP’s holdings in Corning were worth $2,627,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in GLW. Beese Fulmer Investment Management Inc. boosted its holdings in shares of Corning by 2.5% during the 4th quarter. Beese Fulmer Investment Management Inc. now owns 3,836 shares of the electronics maker’s stock worth $336,000 after buying an additional 92 shares in the last quarter. 3Chopt Investment Partners LLC boosted its holdings in shares of Corning by 1.0% during the 4th quarter. 3Chopt Investment Partners LLC now owns 10,248 shares of the electronics maker’s stock worth $897,000 after buying an additional 97 shares in the last quarter. Patten & Patten Inc. TN boosted its holdings in shares of Corning by 0.6% during the 4th quarter. Patten & Patten Inc. TN now owns 17,796 shares of the electronics maker’s stock worth $1,558,000 after buying an additional 100 shares in the last quarter. Vermillion Wealth Management Inc. boosted its holdings in shares of Corning by 32.8% during the 4th quarter. Vermillion Wealth Management Inc. now owns 405 shares of the electronics maker’s stock worth $36,000 after buying an additional 100 shares in the last quarter. Finally, Joel Isaacson & Co. LLC boosted its holdings in shares of Corning by 0.5% during the 4th quarter. Joel Isaacson & Co. LLC now owns 20,518 shares of the electronics maker’s stock worth $1,797,000 after buying an additional 102 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GLW has been the topic of a number of research analyst reports. Bank of America increased their price target on Corning from $155.00 to $186.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Citigroup increased their price target on Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Truist Financial increased their price target on Corning from $125.00 to $149.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. increased their price target on Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Finally, Mizuho increased their price target on Corning from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Corning has an average rating of “Moderate Buy” and a consensus target price of $178.31.

Insiders Place Their Bets

In related news, VP John Z. Zhang sold 10,000 shares of the stock in a transaction 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 completion of the sale, the vice president directly owned 5,138 shares of the company’s stock, valued at approximately $1,019,070.92. This represents a 66.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Michaune D. Tillman sold 3,260 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the completion of the sale, the senior vice president directly owned 10,174 shares of the company’s stock, valued at $2,106,221.48. The trade was a 24.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 160,655 shares of company stock worth $30,692,561 in the last three months. 0.25% of the stock is owned by corporate insiders.

Corning Price Performance

Shares of NYSE:GLW opened at $174.98 on Thursday. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. Corning Incorporated has a twelve month low of $49.97 and a twelve month high of $211.79. The stock’s 50 day moving average is $179.09 and its 200-day moving average is $136.06. The firm has a market capitalization of $150.59 billion, a price-to-earnings ratio of 83.72, a PEG ratio of 2.54 and a beta of 1.15.

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

Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Friday, May 29th. Corning’s dividend payout ratio is presently 53.59%.

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.