First Trust Advisors LP Decreases Stock Holdings in Corning Incorporated $GLW

First Trust Advisors LP lessened its holdings in Corning Incorporated (NYSE:GLW) by 42.3% during the first quarter, HoldingsChannel.com reports. The fund owned 409,159 shares of the electronics maker’s stock after selling 299,457 shares during the quarter. First Trust Advisors LP’s holdings in Corning were worth $55,633,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Saturna Capital Corp purchased a new position in Corning in the first quarter valued at about $272,000. Millennium Capital Advisors LLC purchased a new stake in shares of Corning in the first quarter worth about $228,000. Himension Capital Singapore PTE. LTD. acquired a new stake in shares of Corning in the first quarter valued at about $455,000. Danica Pension Livsforsikringsaktieselskab acquired a new stake in shares of Corning in the first quarter valued at about $12,716,000. Finally, ABN Amro Investment Solutions raised its holdings in shares of Corning by 21.3% during the 1st quarter. ABN Amro Investment Solutions now owns 46,913 shares of the electronics maker’s stock valued at $6,379,000 after buying an additional 8,232 shares during the period. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Price Performance

Shares of NYSE GLW opened at $146.57 on Monday. Corning Incorporated has a fifty-two week low of $54.89 and a fifty-two week high of $271.78. The business has a 50 day moving average price of $188.01 and a two-hundred day moving average price of $155.61. 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 firm has a market cap of $126.14 billion, a PE ratio of 70.13, a price-to-earnings-growth ratio of 1.93 and a beta of 1.09.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The company had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same period in the previous year, the business earned $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. Sell-side analysts expect that Corning Incorporated will post 3.18 earnings per share for the current fiscal year.

Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, August 31st. Corning’s payout ratio is 53.59%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on GLW shares. JPMorgan Chase & Co. boosted their price target on Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Citigroup increased their price objective on shares of Corning from $225.00 to $240.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Zacks Research lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Barclays boosted their target price on shares of Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Finally, Morgan Stanley set a $180.00 price target on shares of Corning in a report on Friday, May 8th. Nine research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Corning has an average rating of “Moderate Buy” and an average target price of $194.69.

Insider Transactions at Corning

In other Corning news, SVP Michaune D. Tillman sold 3,260 shares of the firm’s stock in a transaction 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. This trade represents a 24.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John Z. Zhang sold 10,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the completion of the sale, the vice president directly owned 5,138 shares of the company’s stock, valued at $1,019,070.92. The trade was a 66.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 160,655 shares of company stock valued at $30,692,560 over the last ninety days. 0.25% of the stock is currently owned by corporate insiders.

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.