Blue Trust Inc. Cuts Stock Position in Corning Incorporated $GLW

Blue Trust Inc. trimmed its holdings in shares of Corning Incorporated (NYSE:GLW) by 16.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,233 shares of the electronics maker’s stock after selling 3,106 shares during the quarter. Blue Trust Inc.’s holdings in Corning were worth $2,207,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Berbice Capital Management LLC acquired a new position in Corning during the fourth quarter worth $26,000. Basepoint Wealth LLC acquired a new stake in shares of Corning in the fourth quarter valued at about $26,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in shares of Corning in the third quarter valued at about $25,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Corning during the fourth quarter worth about $27,000. Finally, Litman Gregory Wealth Management LLC purchased a new stake in shares of Corning during the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Corning Stock Up 10.8%

GLW stock opened at $228.14 on Friday. The company has a market cap of $196.35 billion, a price-to-earnings ratio of 109.16, a PEG ratio of 2.95 and a beta of 1.15. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. Corning Incorporated has a 12 month low of $51.32 and a 12 month high of $230.50. The firm has a 50-day moving average of $183.60 and a two-hundred day moving average of $141.15.

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 the consensus estimate of $0.69 by $0.01. The business had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, analysts forecast 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 Tuesday, September 29th. Shareholders of record on Monday, August 31st will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a yield of 0.5%. Corning’s payout ratio is 53.59%.

Insider Activity at Corning

In other news, SVP Soumya Seetharam sold 20,000 shares of Corning stock in a transaction 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 transaction, the senior vice president owned 25,570 shares in the company, valued at $5,273,301.10. The trade was a 43.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP John Z. Zhang sold 10,000 shares of Corning 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 in the company, valued at approximately $1,019,070.92. This represents a 66.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 160,655 shares of company stock valued at $30,692,560 in the last three months. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GLW. Barclays raised their price target on shares of Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Citigroup boosted their price objective on Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. UBS Group increased their target price on Corning from $223.00 to $228.00 and gave the company a “buy” rating in a report on Friday, June 5th. Truist Financial raised their target price on Corning from $149.00 to $205.00 and gave the company a “hold” rating in a research report on Monday. Finally, JPMorgan Chase & Co. lifted their price target on Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $182.62.

About Corning

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.