Brown Lisle Cummings Inc. Sells 2,831 Shares of Corning Incorporated $GLW

Brown Lisle Cummings Inc. cut its stake in Corning Incorporated (NYSE:GLW) by 18.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,669 shares of the electronics maker’s stock after selling 2,831 shares during the period. Brown Lisle Cummings Inc.’s holdings in Corning were worth $1,723,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Corning by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker’s stock valued at $8,693,247,000 after purchasing an additional 580,678 shares in the last quarter. State Street Corp lifted its position in Corning by 1.2% during the third quarter. State Street Corp now owns 37,008,856 shares of the electronics maker’s stock worth $3,035,836,000 after purchasing an additional 439,883 shares during the period. Geode Capital Management LLC grew its stake in Corning by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker’s stock worth $1,781,250,000 after buying an additional 517,067 shares in the last quarter. Capital Research Global Investors grew its stake in Corning by 52.7% during the fourth quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock worth $1,478,959,000 after buying an additional 5,831,873 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in Corning by 30.3% in the 3rd quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock valued at $1,358,211,000 after buying an additional 3,848,540 shares during the period. 69.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Wall Street Zen cut shares of Corning from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Bank of America lifted their price objective on shares of Corning from $155.00 to $186.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Weiss Ratings restated a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. Truist Financial upped their target price on Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a research note on Monday. Finally, Morgan Stanley set a $180.00 target price on Corning in a research note on Friday, May 8th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $182.62.

Corning Stock Performance

NYSE GLW opened at $205.91 on Thursday. The firm’s fifty day moving average price is $182.50 and its two-hundred day moving average price is $140.14. The stock has a market cap of $177.21 billion, a PE ratio of 98.52, a PEG ratio of 2.78 and a beta of 1.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. Corning Incorporated has a fifty-two week low of $51.09 and a fifty-two week high of $217.09.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The company had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.Corning’s revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities analysts expect that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Friday, May 29th. Corning’s payout ratio is 53.59%.

Insider Activity at Corning

In related news, SVP Soumya Seetharam sold 20,000 shares of Corning stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the sale, the senior vice president directly owned 25,570 shares in the company, valued at $5,273,301.10. This trade represents a 43.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michaune D. Tillman sold 3,260 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $207.02, for a total transaction of $674,885.20. Following the sale, the senior vice president directly owned 10,174 shares in the company, valued at $2,106,221.48. The trade was a 24.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 160,655 shares of company stock valued at $30,692,560. Corporate insiders own 0.25% of the company’s stock.

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.