Leigh Baldwin & CO. LLC Cuts Position in Corning Incorporated $GLW

Leigh Baldwin & CO. LLC lowered its stake in shares of Corning Incorporated (NYSE:GLW) by 37.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,206 shares of the electronics maker’s stock after selling 4,828 shares during the period. Leigh Baldwin & CO. LLC’s holdings in Corning were worth $1,116,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Berbice Capital Management LLC acquired a new stake in shares of Corning during the fourth quarter valued at $26,000. Basepoint Wealth LLC acquired a new position in Corning in the 4th quarter valued at about $26,000. Kemnay Advisory Services Inc. purchased a new position in Corning in the 4th quarter valued at about $27,000. Litman Gregory Wealth Management LLC acquired a new stake in shares of Corning during the 4th quarter worth about $31,000. Finally, Evolution Wealth Management Inc. raised its position in shares of Corning by 58.8% in the fourth quarter. Evolution Wealth Management Inc. now owns 381 shares of the electronics maker’s stock valued at $33,000 after buying an additional 141 shares during the last quarter. 69.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on GLW shares. Truist Financial raised their target price on shares of Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a research report on Monday, June 22nd. Barclays decreased their price objective on Corning from $180.00 to $129.00 and set an “equal weight” rating on the stock in a report on Wednesday. Morgan Stanley dropped their target price on Corning from $180.00 to $165.00 and set an “equal weight” rating for the company in a research note on Wednesday. Weiss Ratings downgraded Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, July 24th. Finally, Susquehanna raised their price target on Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research note on Wednesday, April 29th. Nine investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $176.38.

Insider Activity at Corning

In other news, SVP Jaymin Amin sold 27,395 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was 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 directly owned 94,400 shares in the company, valued at approximately $18,138,016. This represents a 22.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Michaune D. Tillman sold 3,260 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $207.02, for a total transaction of $674,885.20. Following the sale, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 160,655 shares of company stock worth $30,692,560 over the last ninety days. Company insiders own 0.25% of the company’s stock.

Key Headlines Impacting Corning

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning reported adjusted second-quarter earnings of $0.78 per share versus the $0.76 consensus estimate, while revenue rose 17.1% year over year to $4.74 billion, ahead of expectations. Corning Stock Crashes on Earnings, But the Sell-Off Looks Overdone
• Positive Sentiment: Management highlighted sustained demand for optical fiber, cables and connectors used in AI data centers, along with its Springboard strategy to expand sales and profitability. Amazon and Nvidia-related fiber demand remains an important growth catalyst. GLW Q2 Earnings Call Highlights AI Growth Plan
• Positive Sentiment: Strong free cash flow has attracted bullish options activity: unusually heavy short-put trading suggests some investors view the selloff as an attractive entry point and are willing to buy shares at lower prices. Corning Delivers Strong FCF Results, But Investors Play GLW Stock’s Drop With an Unusual Short-Put Play
• Positive Sentiment: Citigroup retained a Buy rating despite reducing its price target to $220, indicating analysts still see substantial long-term upside in Corning’s optical and AI infrastructure exposure.

Corning Stock Performance

Corning stock opened at $135.43 on Friday. Corning Incorporated has a 12-month low of $61.44 and a 12-month high of $271.78. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.06. The company has a market capitalization of $116.56 billion, a price-to-earnings ratio of 61.84, a price-to-earnings-growth ratio of 1.62 and a beta of 1.09. The firm’s fifty day moving average price is $184.02 and its 200 day moving average price is $156.88.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. Corning had a net margin of 11.20% and a return on equity of 20.09%. The company had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.63 billion. During the same period in the prior year, the company posted $0.60 EPS. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, research analysts forecast that Corning Incorporated will post 3.22 EPS for the current fiscal year.

Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be issued a dividend of $0.28 per share. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a yield of 0.8%. Corning’s payout ratio is currently 51.14%.

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.