Sterling Capital Management LLC Has $3.64 Million Holdings in Corning Incorporated $GLW

Sterling Capital Management LLC cut its holdings in Corning Incorporated (NYSE:GLW) by 42.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,761 shares of the electronics maker’s stock after selling 19,658 shares during the period. Sterling Capital Management LLC’s holdings in Corning were worth $3,639,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Berbice Capital Management LLC acquired a new position in shares of Corning during the 4th quarter valued at about $26,000. Basepoint Wealth LLC acquired a new stake in Corning in the 4th quarter worth approximately $26,000. MBM Wealth Consultants LLC acquired a new stake in Corning in the 1st quarter worth approximately $42,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in Corning during the third quarter worth approximately $25,000. Finally, Kemnay Advisory Services Inc. acquired a new position in Corning during the fourth quarter valued at approximately $27,000. 69.80% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Corning

In other news, SVP Michaune D. Tillman sold 3,260 shares of the company’s stock in a transaction dated 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 owned 10,174 shares of the company’s stock, valued at approximately $2,106,221.48. This represents a 24.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Soumya Seetharam sold 20,000 shares of the stock in a transaction dated 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 completion of the sale, the senior vice president owned 25,570 shares of the company’s stock, valued at approximately $5,273,301.10. The trade was a 43.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 160,655 shares of company stock valued at $30,692,560 in the last three months. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GLW. Zacks Research lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Truist Financial upped their price objective on shares of Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a report on Monday, June 22nd. Barclays raised their target price 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. Oppenheimer lifted their target price on shares of Corning from $120.00 to $210.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. Finally, UBS Group boosted their target price on shares of Corning from $223.00 to $228.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Corning currently has an average rating of “Moderate Buy” and a consensus target price of $182.62.

Corning Stock Down 2.2%

GLW opened at $223.00 on Friday. Corning Incorporated has a 1-year low of $51.32 and a 1-year high of $230.50. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $191.92 billion, a price-to-earnings ratio of 106.70, a P/E/G ratio of 3.16 and a beta of 1.15. The business has a 50 day moving average of $184.70 and a 200-day moving average of $141.72.

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, topping analysts’ consensus estimates of $0.69 by $0.01. The business had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. Corning’s revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, sell-side analysts anticipate that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.28 per share. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.5%. Corning’s payout ratio is presently 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.