Contravisory Investment Management Inc. Sells 2,258 Shares of Corning Incorporated $GLW

Contravisory Investment Management Inc. cut its holdings in Corning Incorporated (NYSE:GLW) by 22.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,733 shares of the electronics maker’s stock after selling 2,258 shares during the quarter. Contravisory Investment Management Inc.’s holdings in Corning were worth $1,051,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Berbice Capital Management LLC purchased a new stake in shares of Corning in the 4th quarter worth approximately $26,000. Basepoint Wealth LLC bought a new position in shares of Corning during the fourth quarter valued at approximately $26,000. MBM Wealth Consultants LLC purchased a new position in Corning during the first quarter valued at approximately $42,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in Corning in the third quarter worth approximately $25,000. Finally, Kemnay Advisory Services Inc. bought a new position in Corning in the fourth quarter worth approximately $27,000. 69.80% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Corning

In other news, CEO Wendell P. Weeks sold 100,000 shares of the company’s stock in a transaction dated 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 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. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Michaune D. Tillman sold 3,260 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $207.02, for a total transaction of $674,885.20. Following the completion of the transaction, 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. In the last three months, insiders have sold 160,655 shares of company stock valued at $30,692,560. Insiders own 0.25% of the company’s stock.

Corning Stock Performance

Shares of GLW stock opened at $228.14 on Friday. Corning Incorporated has a 12-month low of $51.32 and a 12-month high of $230.50. The business’s fifty day simple moving average is $183.60 and its 200-day simple moving average is $141.15. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. The company has a market cap of $196.35 billion, a PE ratio of 109.16, a PEG ratio of 2.95 and a beta of 1.15.

Corning (NYSE:GLW) last posted its quarterly earnings data 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 firm had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter last year, the firm 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. Analysts expect that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio (DPR) is currently 53.59%.

Analysts Set New Price Targets

GLW has been the topic of several recent research reports. Oppenheimer increased their target price on Corning from $120.00 to $210.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. UBS Group boosted their price target on Corning from $223.00 to $228.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Weiss Ratings restated a “buy (b-)” rating on shares of Corning in a research note on Friday, May 15th. Wall Street Zen downgraded Corning from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Finally, JPMorgan Chase & Co. lifted their target price on Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Corning has a consensus rating of “Moderate Buy” and an average price target of $182.62.

Corning 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.