Cardinal Point Capital Management ULC Has $3.11 Million Position in Corning Incorporated $GLW

Cardinal Point Capital Management ULC lessened its holdings in shares of Corning Incorporated (NYSE:GLW) by 12.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 22,877 shares of the electronics maker’s stock after selling 3,345 shares during the period. Cardinal Point Capital Management ULC’s holdings in Corning were worth $3,111,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Brighton Jones LLC increased its holdings in Corning by 46.0% in the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock valued at $319,000 after purchasing an additional 2,114 shares during the last quarter. Retirement Planning Co of New England Inc. bought a new position in Corning during the first quarter worth about $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Corning by 9.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock worth $2,962,000 after buying an additional 5,522 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Corning during the 2nd quarter worth about $401,000. Finally, Schnieders Capital Management LLC. acquired a new position in shares of Corning during the 2nd quarter worth about $266,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on GLW. Mizuho upped their target price on shares of Corning from $190.00 to $220.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Susquehanna boosted their price target on shares of Corning from $125.00 to $180.00 and gave the company a “positive” rating in a report on Wednesday, April 29th. Wall Street Zen cut shares of Corning from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Truist Financial raised their price objective on Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a research note on Monday. Finally, Bank of America lifted their target price on Corning from $155.00 to $186.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Ten 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 presently has a consensus rating of “Moderate Buy” and an average price target of $182.62.

Insider Buying and Selling

In other Corning news, 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 owned 10,174 shares in the company, valued at $2,106,221.48. This trade represents a 24.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Jaymin Amin sold 27,395 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the completion of the sale, the senior vice president owned 94,400 shares of the company’s stock, valued at $18,138,016. This trade represents a 22.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 160,655 shares of company stock worth $30,692,560 in the last quarter. 0.25% of the stock is owned by company insiders.

Corning Stock Up 6.1%

Shares of GLW stock opened at $205.91 on Thursday. The firm has a fifty day moving average of $182.50 and a 200-day moving average of $140.14. 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 12-month low of $51.09 and a 12-month high of $217.09. The company has a market capitalization of $177.21 billion, a price-to-earnings ratio of 98.52, a P/E/G ratio of 2.78 and a beta of 1.15.

Corning (NYSE:GLW) last released its quarterly 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. The firm had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The company’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter last year, the business posted $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, equities research analysts predict that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.5%. 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.