Mariner LLC Sells 315,244 Shares of Corning Incorporated $GLW

Mariner LLC cut its stake in Corning Incorporated (NYSE:GLW) by 8.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,521,902 shares of the electronics maker’s stock after selling 315,244 shares during the quarter. Mariner LLC owned about 0.41% of Corning worth $308,390,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GLW. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in Corning in the 3rd quarter worth about $25,000. Berbice Capital Management LLC bought a new stake in shares of Corning during the fourth quarter valued at about $26,000. Basepoint Wealth LLC bought a new stake in shares of Corning during the fourth quarter valued at about $26,000. Litman Gregory Wealth Management LLC bought a new stake in shares of Corning during the fourth quarter valued at about $31,000. Finally, Evolution Wealth Management Inc. boosted its position in shares of Corning by 58.8% in the fourth quarter. Evolution Wealth Management Inc. now owns 381 shares of the electronics maker’s stock valued at $33,000 after acquiring an additional 141 shares during the period. 69.80% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on GLW. Barclays boosted their price objective 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. Truist Financial increased their target price on shares of Corning from $125.00 to $149.00 and gave the stock a “hold” rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. boosted their price target on shares of Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Susquehanna upped their price target on shares of Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a report on Wednesday, April 29th. Finally, Citigroup increased their price objective on Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $178.31.

Insider Buying and Selling

In other Corning news, VP John Z. Zhang sold 10,000 shares of Corning 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 owned 5,138 shares of the company’s stock, valued at $1,019,070.92. The trade was a 66.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Michaune D. Tillman sold 3,260 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $207.02, for a total value of $674,885.20. Following the completion of 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 160,655 shares of company stock valued at $30,692,561 in the last three months. 0.25% of the stock is owned by corporate insiders.

Corning Stock Up 0.4%

GLW stock opened at $179.85 on Monday. The company’s 50 day moving average is $177.15 and its 200 day moving average is $134.03. The stock has a market cap of $154.79 billion, a price-to-earnings ratio of 86.05, a price-to-earnings-growth ratio of 2.56 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 1-year low of $49.47 and a 1-year high of $211.79.

Corning (NYSE:GLW) last announced its 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. Corning had a net margin of 11.09% and a return on equity of 19.45%. The business had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same period in the previous year, the business posted $0.54 earnings per share. Corning’s revenue for the quarter was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Sell-side analysts predict that Corning Incorporated will post 3.19 EPS 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 dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, May 29th. Corning’s payout ratio is currently 53.59%.

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.