USA Financial Formulas Sells 4,630 Shares of Corning Incorporated $GLW

USA Financial Formulas lessened its position in shares of Corning Incorporated (NYSE:GLW) by 37.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,669 shares of the electronics maker’s stock after selling 4,630 shares during the period. USA Financial Formulas’ holdings in Corning were worth $671,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GLW. CVA Family Office LLC increased its holdings in Corning by 10.3% in the 3rd quarter. CVA Family Office LLC now owns 1,190 shares of the electronics maker’s stock worth $98,000 after acquiring an additional 111 shares during the last quarter. Angeles Wealth Management LLC lifted its holdings in Corning by 2.8% during the third quarter. Angeles Wealth Management LLC now owns 4,242 shares of the electronics maker’s stock valued at $348,000 after purchasing an additional 116 shares during the last quarter. Vista Investment Partners LLC boosted its position in Corning by 1.3% during the third quarter. Vista Investment Partners LLC now owns 9,496 shares of the electronics maker’s stock worth $779,000 after purchasing an additional 119 shares during the period. Sapient Capital LLC boosted its position in Corning by 2.2% during the third quarter. Sapient Capital LLC now owns 5,626 shares of the electronics maker’s stock worth $452,000 after purchasing an additional 120 shares during the period. Finally, Sivia Capital Partners LLC increased its stake in shares of Corning by 1.6% in the third quarter. Sivia Capital Partners LLC now owns 7,740 shares of the electronics maker’s stock worth $635,000 after purchasing an additional 124 shares in the last quarter. Institutional investors own 69.80% of the company’s stock.

Wall Street Analyst Weigh In

GLW has been the topic of several research reports. Susquehanna boosted their price target on shares of Corning from $100.00 to $125.00 and gave the company a “positive” rating in a research report on Thursday, January 29th. Oppenheimer set a $120.00 price objective on shares of Corning in a research note on Thursday, January 29th. Mizuho set a $145.00 target price on shares of Corning in a report on Monday, February 23rd. Morgan Stanley increased their target price on Corning from $103.00 to $127.00 and gave the stock an “equal weight” rating in a research report on Monday, February 23rd. Finally, Citigroup raised their price target on Corning from $120.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Corning has an average rating of “Moderate Buy” and an average target price of $132.67.

Insider Buying and Selling at Corning

In other news, CFO Edward A. Schlesinger sold 21,104 shares of Corning stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $104.55, for a total transaction of $2,206,423.20. Following the completion of the sale, the chief financial officer owned 54,780 shares in the company, valued at approximately $5,727,249. This trade represents a 27.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Wendell P. Weeks sold 137,514 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $155.37, for a total transaction of $21,365,550.18. Following the completion of the transaction, the chief executive officer owned 750,585 shares in the company, valued at approximately $116,618,391.45. This trade represents a 15.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 233,201 shares of company stock valued at $32,614,558 over the last 90 days. Insiders own 0.40% of the company’s stock.

Corning Stock Performance

Corning stock opened at $136.94 on Friday. Corning Incorporated has a 1-year low of $37.31 and a 1-year high of $162.10. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $117.64 billion, a PE ratio of 74.43, a price-to-earnings-growth ratio of 2.16 and a beta of 1.05. The firm’s 50 day simple moving average is $126.73 and its 200 day simple moving average is $99.82.

Corning (NYSE:GLW) last announced its quarterly earnings results on Wednesday, January 28th. The electronics maker reported $0.72 EPS for the quarter, beating the consensus estimate of $0.71 by $0.01. The firm had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.35 billion. Corning had a net margin of 10.21% and a return on equity of 18.72%. The business’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period last year, the firm earned $0.57 EPS. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. As a group, analysts expect that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Friday, February 27th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.12 annualized dividend and a yield of 0.8%. Corning’s dividend payout ratio (DPR) is currently 60.87%.

Corning 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.