Tribune Investment Group LP Sells 60,800 Shares of Corning Incorporated $GLW

Tribune Investment Group LP lowered its position in shares of Corning Incorporated (NYSE:GLW) by 86.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,200 shares of the electronics maker’s stock after selling 60,800 shares during the period. Tribune Investment Group LP’s holdings in Corning were worth $2,350,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of GLW. Berbice Capital Management LLC acquired a new stake in shares of Corning during the fourth quarter valued at about $26,000. Basepoint Wealth LLC bought a new position in Corning in the 4th quarter valued at approximately $26,000. Atwood & Palmer Inc. bought a new position in Corning in the 2nd quarter valued at approximately $26,000. Kemnay Advisory Services Inc. acquired a new stake in Corning during the 4th quarter worth approximately $27,000. Finally, Litman Gregory Wealth Management LLC acquired a new stake in Corning during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GLW. Mizuho decreased their price target on shares of Corning from $270.00 to $210.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. Truist Financial upgraded shares of 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 report on Sunday, August 2nd. Bank of America boosted their price objective on shares of Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a research note on Monday, July 6th. Susquehanna increased their price objective on Corning from $125.00 to $180.00 and gave the company a “positive” rating in a report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. lowered their target price on Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, July 29th. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Corning currently has a consensus rating of “Moderate Buy” and an average price target of $174.08.

Corning Stock Performance

Shares of GLW stock opened at $149.91 on Monday. The stock has a market capitalization of $129.13 billion, a PE ratio of 68.45, a PEG ratio of 1.92 and a beta of 1.14. The business’s 50 day simple moving average is $174.83 and its 200 day simple moving average is $163.72. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24. Corning Incorporated has a one year low of $65.09 and a one year high of $271.78.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.02. The firm had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. The company’s revenue was up 17.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, research analysts forecast that Corning Incorporated will post 3.27 earnings per share for the current year.

Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio (DPR) is currently 51.14%.

Insider Transactions at Corning

In related news, CEO Wendell P. Weeks sold 100,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total value of $18,646,000.00. Following the transaction, the chief executive officer owned 908,353 shares in the company, valued at $169,371,500.38. The trade was a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.25% of the stock is currently owned by insiders.

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.