PFG Investments LLC Cuts Position in Corning Incorporated $GLW

PFG Investments LLC cut its holdings in Corning Incorporated (NYSE:GLW) by 3.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 76,256 shares of the electronics maker’s stock after selling 2,587 shares during the period. PFG Investments LLC’s holdings in Corning were worth $10,368,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of GLW. Berbice Capital Management LLC bought a new position in Corning in the 4th quarter valued at $26,000. Basepoint Wealth LLC purchased a new stake in shares of Corning during the 4th quarter valued at $26,000. MBM Wealth Consultants LLC bought a new stake in shares of Corning during the 1st quarter worth $42,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in shares of Corning during the 3rd quarter worth $25,000. Finally, Kemnay Advisory Services Inc. purchased a new position in shares of Corning in the 4th quarter worth about $27,000. 69.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GLW has been the subject of several research reports. Morgan Stanley set a $180.00 price target on shares of Corning in a research report on Friday, May 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Corning in a research note on Friday, May 15th. Mizuho increased their target price on shares of Corning from $220.00 to $270.00 and gave the company an “outperform” rating in a research report on Wednesday. Citigroup raised their price target on shares of Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Susquehanna lifted 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. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $186.46.

Insider Activity at Corning

In related news, SVP Soumya Seetharam sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $206.23, for a total value of $4,124,600.00. Following the completion of the transaction, the senior vice president directly owned 25,570 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. Also, SVP Jaymin Amin sold 27,395 shares of Corning stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the completion of the transaction, the senior vice president owned 94,400 shares of the company’s stock, valued at $18,138,016. This represents a 22.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 160,655 shares of company stock worth $30,692,560 in the last ninety days. Insiders own 0.25% of the company’s stock.

Corning Trading Down 0.3%

Shares of GLW opened at $196.12 on Friday. The business has a 50-day moving average of $190.59 and a 200 day moving average of $146.38. Corning Incorporated has a fifty-two week low of $51.32 and a fifty-two week high of $271.78. The firm has a market cap of $168.79 billion, a P/E ratio of 93.84, a price-to-earnings-growth ratio of 2.82 and a beta of 1.09. 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 (NYSE:GLW) last released its quarterly earnings data 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 business had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The company’s revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, research analysts forecast that Corning Incorporated will post 3.19 EPS for the current year.

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be given a $0.28 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. Corning’s payout ratio is 53.59%.

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.