Levin Capital Strategies L.P. Sells 6,500 Shares of Corning Incorporated $GLW

Levin Capital Strategies L.P. reduced its stake in shares of Corning Incorporated (NYSE:GLW) by 68.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,000 shares of the electronics maker’s stock after selling 6,500 shares during the quarter. Levin Capital Strategies L.P.’s holdings in Corning were worth $408,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Berbice Capital Management LLC purchased a new position in Corning during the fourth quarter valued at $26,000. Basepoint Wealth LLC bought a new stake in Corning in the 4th quarter valued at $26,000. Kemnay Advisory Services Inc. purchased a new stake in Corning in the 4th quarter worth $27,000. Litman Gregory Wealth Management LLC bought a new position in shares of Corning during the 4th quarter valued at about $31,000. Finally, JPL Wealth Management LLC purchased a new position in shares of Corning during the third quarter valued at about $33,000. Institutional investors own 69.80% of the company’s stock.

Insider Buying and Selling

In other Corning news, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction on 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 directly owned 10,174 shares of the company’s stock, valued at $2,106,221.48. The trade was a 24.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP John Z. Zhang sold 10,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the transaction, the vice president owned 5,138 shares in the company, valued at $1,019,070.92. This trade represents a 66.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 160,655 shares of company stock valued at $30,692,560 over the last 90 days. 0.25% of the stock is currently owned by insiders.

Analyst Ratings Changes

GLW has been the topic of several research reports. Oppenheimer lifted their target price on Corning from $210.00 to $230.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. JPMorgan Chase & Co. increased their price target on Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Barclays lifted their price objective on Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Truist Financial upped their price objective on Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a report on Monday, June 22nd. Finally, Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $194.69.

Corning Stock Up 1.2%

Shares of NYSE:GLW opened at $155.91 on Friday. The company has a market cap of $134.18 billion, a price-to-earnings ratio of 74.60, a PEG ratio of 2.03 and a beta of 1.09. Corning Incorporated has a 12 month low of $54.89 and a 12 month high of $271.78. 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 company has a 50-day moving average price of $188.92 and a 200 day moving average price of $155.20.

Corning (NYSE:GLW) last issued its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.01. The company had revenue of $4.34 billion for 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%.The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period 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, equities research analysts predict that Corning Incorporated will post 3.18 earnings per share for the current year.

Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be given a $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. Corning’s dividend payout ratio (DPR) is currently 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.