Valley Wealth Managers Inc. Lowers Holdings in Corning Incorporated $GLW

Valley Wealth Managers Inc. lowered its position in shares of Corning Incorporated (NYSE:GLW) by 16.1% in the first quarter, HoldingsChannel reports. The firm owned 306,483 shares of the electronics maker’s stock after selling 58,871 shares during the period. Corning makes up approximately 2.7% of Valley Wealth Managers Inc.’s investment portfolio, making the stock its 3rd biggest holding. Valley Wealth Managers Inc.’s holdings in Corning were worth $41,672,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in GLW. Norges Bank bought a new stake in Corning during the fourth quarter worth about $921,435,000. Capital Research Global Investors raised its stake in shares of Corning by 52.7% in the fourth quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock valued at $1,478,959,000 after acquiring an additional 5,831,873 shares during the last quarter. Polar Capital Holdings Plc raised its stake in shares of Corning by 141.2% in the third quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock valued at $329,035,000 after acquiring an additional 2,348,125 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Corning by 102.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,562,644 shares of the electronics maker’s stock worth $399,505,000 after acquiring an additional 2,304,676 shares in the last quarter. Finally, Evergreen Quality Fund GP Ltd. acquired a new position in shares of Corning in the 4th quarter worth approximately $185,312,000. 69.80% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Corning news, SVP Michaune D. Tillman sold 3,260 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $207.02, for a total transaction of $674,885.20. Following the completion of the sale, the senior vice president directly owned 10,174 shares of the company’s stock, valued at approximately $2,106,221.48. The trade was a 24.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Soumya Seetharam sold 20,000 shares of the company’s 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 transaction, the senior vice president owned 25,570 shares in the company, valued at approximately $5,273,301.10. The trade was a 43.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 160,655 shares of company stock valued at $30,692,560 over the last 90 days. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Citigroup raised their price target on Corning from $225.00 to $240.00 and gave the company a “buy” rating in a report on Monday, July 13th. Zacks Research cut Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Morgan Stanley set a $180.00 target price on Corning in a research note on Friday, May 8th. JPMorgan Chase & Co. lifted their price target on Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $194.69.

Corning Stock Performance

GLW stock opened at $154.47 on Friday. The company has a 50 day moving average price of $192.81 and a 200 day moving average price of $152.85. Corning Incorporated has a fifty-two week low of $53.29 and a fifty-two week high of $271.78. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. The stock has a market capitalization of $132.94 billion, a PE ratio of 73.91, a price-to-earnings-growth ratio of 2.03 and a beta of 1.09.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The firm had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The business’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period last year, the company earned $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Analysts forecast that Corning Incorporated will post 3.18 EPS for the current year.

Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio is 53.59%.

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.