AMI Asset Management Corp Cuts Stock Position in Corning Incorporated $GLW

AMI Asset Management Corp lowered its position in shares of Corning Incorporated (NYSE:GLW) by 18.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,937 shares of the electronics maker’s stock after selling 2,921 shares during the period. AMI Asset Management Corp’s holdings in Corning were worth $1,759,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Merit Financial Group LLC lifted its position in Corning by 16.9% during the 4th quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker’s stock worth $3,940,000 after buying an additional 6,493 shares in the last quarter. Security National Bank increased its stake in shares of Corning by 340.4% in the 4th quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock valued at $6,350,000 after buying an additional 56,056 shares during the period. Natixis Advisors LLC increased its stake in shares of Corning by 32.1% in the 3rd quarter. Natixis Advisors LLC now owns 479,921 shares of the electronics maker’s stock valued at $39,367,000 after buying an additional 116,583 shares during the period. Three Seasons Wealth LLC bought a new stake in Corning during the 4th quarter worth about $1,750,000. Finally, RiverFront Investment Group LLC lifted its position in Corning by 65.4% during the 4th quarter. RiverFront Investment Group LLC now owns 14,718 shares of the electronics maker’s stock valued at $1,289,000 after purchasing an additional 5,818 shares during the period. Institutional investors own 69.80% of the company’s stock.

Corning Price Performance

Shares of NYSE GLW opened at $255.79 on Tuesday. The firm has a fifty day simple moving average of $186.49 and a 200 day simple moving average of $143.26. Corning Incorporated has a twelve month low of $51.32 and a twelve month high of $258.80. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $220.14 billion, a PE ratio of 122.39, a P/E/G ratio of 3.16 and a beta of 1.15.

Corning (NYSE:GLW) last released its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share 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 during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the previous year, the business posted $0.54 EPS. Corning’s revenue for the quarter was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, sell-side analysts forecast that Corning Incorporated will post 3.19 EPS for the current year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.4%. Corning’s payout ratio is presently 53.59%.

Insider Buying and Selling at Corning

In related news, SVP Jaymin Amin sold 27,395 shares of Corning stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total value of $5,263,675.30. Following the sale, the senior vice president owned 94,400 shares of the company’s stock, valued at approximately $18,138,016. The trade was a 22.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Michaune D. Tillman sold 3,260 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $207.02, for a total value of $674,885.20. Following the transaction, the senior vice president owned 10,174 shares of the company’s stock, valued at $2,106,221.48. The trade was a 24.27% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 160,655 shares of company stock worth $30,692,560. 0.25% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Susquehanna lifted their price target on shares of Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research report on Wednesday, April 29th. Weiss Ratings restated a “buy (b-)” rating on shares of Corning in a research note on Friday, May 15th. UBS Group increased their price target on shares of Corning from $223.00 to $228.00 and gave the company a “buy” rating in a report on Friday, June 5th. Bank of America boosted their price objective on shares of Corning from $155.00 to $186.00 and gave the company a “buy” rating in a report on Monday, April 20th. Finally, Truist Financial boosted their target price on shares of Corning from $149.00 to $205.00 and gave the company a “hold” rating in a research report on Monday, June 22nd. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average 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.