Barclays PLC Cuts Stock Holdings in Corning Incorporated $GLW

Barclays PLC reduced its position in shares of Corning Incorporated (NYSE:GLW) by 12.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,428,753 shares of the electronics maker’s stock after selling 205,609 shares during the period. Barclays PLC’s holdings in Corning were worth $125,102,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of GLW. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in Corning during the 3rd quarter worth approximately $25,000. Berbice Capital Management LLC purchased a new stake in shares of Corning in the fourth quarter valued at approximately $26,000. Basepoint Wealth LLC purchased a new stake in shares of Corning in the fourth quarter valued at approximately $26,000. Litman Gregory Wealth Management LLC purchased a new stake in shares of Corning in the fourth quarter valued at approximately $31,000. Finally, Evolution Wealth Management Inc. grew 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 purchasing an additional 141 shares in the last quarter. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Corning Stock Up 4.1%

Corning stock opened at $186.54 on Tuesday. The firm has a market capitalization of $160.54 billion, a P/E ratio of 89.25, a P/E/G ratio of 2.56 and a beta of 1.15. The stock’s fifty day simple moving average is $177.92 and its 200-day simple moving average is $134.76. 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 twelve month low of $49.81 and a twelve month high of $211.79.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. The firm had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.Corning’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, equities analysts expect that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, May 29th. Corning’s dividend payout ratio is 53.59%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GLW. Citigroup upped their price target on Corning from $175.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. UBS Group upped their price target on Corning from $223.00 to $228.00 and gave the company a “buy” rating in a research report on Friday, June 5th. Susquehanna upped their price target on Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research report on Wednesday, April 29th. Morgan Stanley set a $180.00 price target on Corning in a research report on Friday, May 8th. Finally, Mizuho upped their price objective on Corning from $190.00 to $220.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $178.31.

Insider Activity at Corning

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was 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 of the company’s stock, valued at approximately $169,371,500.38. This trade represents a 9.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Soumya Seetharam sold 20,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $206.23, for a total value of $4,124,600.00. Following the transaction, the senior vice president directly owned 25,570 shares in the company, valued at approximately $5,273,301.10. This represents a 43.89% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 160,655 shares of company stock valued at $30,692,561. Corporate insiders own 0.25% of the company’s stock.

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.