AGP Franklin LLC Sells 7,028 Shares of Corning Incorporated $GLW

AGP Franklin LLC decreased its stake in shares of Corning Incorporated (NYSE:GLW) by 16.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 34,872 shares of the electronics maker’s stock after selling 7,028 shares during the quarter. Corning accounts for about 2.4% of AGP Franklin LLC’s investment portfolio, making the stock its 11th biggest position. AGP Franklin LLC’s holdings in Corning were worth $4,742,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Merit Financial Group LLC boosted its position in shares of Corning by 16.9% during the 4th quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker’s stock valued at $3,940,000 after acquiring an additional 6,493 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ raised its position in 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 purchasing an additional 12,297 shares in the last quarter. Security National Bank raised its position in Corning by 340.4% in the fourth quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock worth $6,350,000 after purchasing an additional 56,056 shares in the last quarter. Natixis Advisors LLC lifted its stake in Corning by 32.1% during the third quarter. Natixis Advisors LLC now owns 479,921 shares of the electronics maker’s stock worth $39,367,000 after purchasing an additional 116,583 shares during the period. Finally, Three Seasons Wealth LLC bought a new position in Corning during the fourth quarter worth about $1,750,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Stock Performance

Shares of NYSE:GLW opened at $209.61 on Tuesday. The stock has a market capitalization of $180.40 billion, a P/E ratio of 100.29, a P/E/G ratio of 2.79 and a beta of 1.15. Corning Incorporated has a 1-year low of $50.26 and a 1-year high of $212.39. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. The business has a 50-day moving average price of $181.42 and a two-hundred day moving average price of $138.52.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter last year, the firm earned $0.54 EPS. The company’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. Equities analysts predict that Corning Incorporated will post 3.19 earnings per share for the current 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 of this dividend is Friday, May 29th. This represents a $1.12 dividend on an annualized basis and a yield of 0.5%. Corning’s dividend payout ratio (DPR) is presently 53.59%.

Insider Transactions at Corning

In other 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 transaction, the vice president owned 5,138 shares of the company’s stock, valued at $1,019,070.92. This represents a 66.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Wendell P. Weeks sold 100,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total value of $18,646,000.00. Following the completion of the transaction, the chief executive officer owned 908,353 shares in the company, valued at $169,371,500.38. This represents a 9.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 160,655 shares of company stock valued at $30,692,560. 0.25% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

GLW has been the topic of several analyst reports. JPMorgan Chase & Co. upped their price objective on Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Truist Financial raised their target price on Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a research report on Monday. Zacks Research lowered Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Susquehanna upped their price target on Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research report on Wednesday, April 29th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Corning in a research note on Friday, May 15th. 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $182.62.

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.