St. Johns Investment Management Company LLC Decreases Holdings in Corning Incorporated $GLW

St. Johns Investment Management Company LLC trimmed its holdings in shares of Corning Incorporated (NYSE:GLW) by 23.2% during the first quarter, HoldingsChannel reports. The firm owned 13,200 shares of the electronics maker’s stock after selling 3,981 shares during the quarter. St. Johns Investment Management Company LLC’s holdings in Corning were worth $1,795,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in GLW. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in Corning in the third quarter valued at about $25,000. Berbice Capital Management LLC bought a new position in shares of Corning during the 4th quarter valued at approximately $26,000. Basepoint Wealth LLC purchased a new stake in shares of Corning during the 4th quarter worth approximately $26,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Corning during the 4th quarter worth approximately $27,000. Finally, Litman Gregory Wealth Management LLC bought a new stake in shares of Corning in the 4th quarter worth approximately $31,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

Corning Trading Down 0.3%

Shares of GLW stock opened at $196.12 on Friday. The company’s fifty day simple moving average is $190.59 and its two-hundred day simple moving average is $146.38. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. Corning Incorporated has a 1 year low of $51.32 and a 1 year high of $271.78. The stock has a market capitalization of $168.79 billion, a price-to-earnings ratio of 93.84, a PEG ratio of 2.82 and a beta of 1.09.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The firm had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter in the prior year, the business posted $0.54 earnings per share. The business’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. As a group, analysts anticipate that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a yield of 0.6%. Corning’s dividend payout ratio is 53.59%.

Insiders Place Their Bets

In other Corning news, VP John Z. Zhang sold 10,000 shares of Corning stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the completion of the transaction, the vice president owned 5,138 shares of the company’s stock, valued at $1,019,070.92. The trade was a 66.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Wendell P. Weeks sold 100,000 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total value of $18,646,000.00. Following the sale, the chief executive officer owned 908,353 shares in the company, valued at approximately $169,371,500.38. This represents a 9.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 160,655 shares of company stock worth $30,692,560 over the last quarter. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. JPMorgan Chase & Co. upped their price objective on Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Wall Street Zen lowered Corning from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Barclays upped their price target on Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Finally, UBS Group lifted their price objective on Corning from $223.00 to $228.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Ten equities 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $186.46.

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.