Corning Incorporated $GLW Holdings Decreased by Foresight Capital Management Advisors Inc.

Foresight Capital Management Advisors Inc. trimmed its holdings in shares of Corning Incorporated (NYSE:GLW) by 9.8% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 40,934 shares of the electronics maker’s stock after selling 4,441 shares during the period. Corning makes up approximately 5.1% of Foresight Capital Management Advisors Inc.’s investment portfolio, making the stock its largest position. Foresight Capital Management Advisors Inc.’s holdings in Corning were worth $10,456,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Berbice Capital Management LLC acquired a new position in shares of Corning in the 4th quarter valued at about $26,000. Basepoint Wealth LLC purchased a new position in Corning during the fourth quarter valued at approximately $26,000. MBM Wealth Consultants LLC purchased a new position in Corning during the first quarter valued at approximately $42,000. Kemnay Advisory Services Inc. acquired a new position in Corning in the 4th quarter valued at approximately $27,000. Finally, IMG Wealth Management Inc. purchased a new stake in Corning in the 1st quarter worth approximately $43,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Morgan Stanley decreased their target price on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 29th. Barclays cut their price objective on Corning from $180.00 to $129.00 and set an “equal weight” rating for the company in a report on Wednesday, July 29th. UBS Group restated a “buy” rating and issued a $196.00 target price on shares of Corning in a research note on Wednesday, July 29th. Truist Financial raised Corning from a “hold” rating to a “buy” rating and cut their price target for the stock from $205.00 to $175.00 in a research note on Sunday, August 2nd. Finally, Zacks Research lowered Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $174.08.

Corning Stock Up 5.4%

Corning stock opened at $165.65 on Friday. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. Corning Incorporated has a 1-year low of $63.37 and a 1-year high of $271.78. The firm’s fifty day simple moving average is $179.73 and its 200-day simple moving average is $159.07. The company has a market capitalization of $142.69 billion, a P/E ratio of 75.64, a P/E/G ratio of 2.01 and a beta of 1.14.

Corning (NYSE:GLW) last issued its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.02. The firm had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. Corning’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Sell-side analysts forecast that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Dividend Announcement

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 paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio (DPR) is presently 51.14%.

Insiders Place Their Bets

In other news, SVP Jaymin Amin sold 27,395 shares of Corning stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total value of $5,263,675.30. Following the transaction, the senior vice president owned 94,400 shares of the company’s stock, valued at $18,138,016. This trade represents a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Soumya Seetharam sold 20,000 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the completion of the sale, the senior vice president owned 25,570 shares of the company’s stock, valued at $5,273,301.10. The trade was a 43.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 160,655 shares of company stock worth $30,692,560 in the last three months. 0.25% of the stock is owned by insiders.

Corning Company 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.