Money Concepts Capital Corp Sells 9,342 Shares of Corning Incorporated $GLW

Money Concepts Capital Corp cut its stake in Corning Incorporated (NYSE:GLW) by 14.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 55,873 shares of the electronics maker’s stock after selling 9,342 shares during the period. Money Concepts Capital Corp’s holdings in Corning were worth $4,892,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Corning by 0.6% in the 4th 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 during the period. State Street Corp lifted its holdings in shares of Corning by 1.2% during the 3rd quarter. State Street Corp now owns 37,008,856 shares of the electronics maker’s stock worth $3,035,836,000 after acquiring an additional 439,883 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Corning by 30.3% during the 3rd quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock worth $1,358,211,000 after acquiring an additional 3,848,540 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Corning by 8.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock worth $724,432,000 after acquiring an additional 1,036,988 shares during the period. Finally, Capital Research Global Investors bought a new position in shares of Corning during the 3rd quarter worth about $907,164,000. 69.80% of the stock is owned by institutional investors.

Corning Trading Up 10.7%

Shares of GLW stock opened at $206.99 on Tuesday. Corning Incorporated has a 12-month low of $46.34 and a 12-month high of $208.92. The company has a market capitalization of $178.14 billion, a P/E ratio of 99.04, a P/E/G ratio of 2.68 and a beta of 1.14. The firm has a 50-day moving average price of $152.13 and a 200 day moving average price of $116.67. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last announced its quarterly 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 firm had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same period last year, the firm posted $0.54 EPS. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Research analysts forecast that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors 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 yield of 0.5%. The ex-dividend date of this dividend is Friday, May 29th. Corning’s dividend payout ratio (DPR) is currently 53.59%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on GLW shares. Bank of America raised their price objective on shares of Corning from $155.00 to $186.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Mizuho set a $145.00 price objective on shares of Corning in a report on Monday, February 23rd. Morgan Stanley set a $180.00 price objective on shares of Corning in a report on Friday. Zacks Research raised shares of Corning from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. Finally, Barclays raised their price objective on shares of Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $172.15.

Insider Activity at Corning

In other Corning news, VP John Z. Zhang sold 1,531 shares of the firm’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $133.75, for a total value of $204,771.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Wendell P. Weeks sold 137,514 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $155.37, for a total transaction of $21,365,550.18. Following the completion of the sale, the chief executive officer owned 750,585 shares of the company’s stock, valued at $116,618,391.45. The trade was a 15.48% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 140,628 shares of company stock valued at $21,774,117 in the last ninety days. 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.