Corning Incorporated $GLW Stock Holdings Trimmed by Parkside Investments LLC

Parkside Investments LLC reduced its position in Corning Incorporated (NYSE:GLW - Free Report) by 17.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,234 shares of the electronics maker's stock after selling 9,245 shares during the quarter. Parkside Investments LLC's holdings in Corning were worth $6,955,000 at the end of the most recent reporting period.

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Other large investors have also modified their holdings of the company. Alliance Wealth Advisors LLC increased its holdings in shares of Corning by 1.4% in the 2nd quarter. Alliance Wealth Advisors LLC now owns 4,045 shares of the electronics maker's stock valued at $1,033,000 after acquiring an additional 56 shares during the period. Ares Financial Consulting LLC raised its position in Corning by 15.6% in the 2nd quarter. Ares Financial Consulting LLC now owns 444 shares of the electronics maker's stock valued at $113,000 after purchasing an additional 60 shares during the last quarter. Signature Equity Partners LLC raised its position in Corning by 19.3% in the 1st quarter. Signature Equity Partners LLC now owns 383 shares of the electronics maker's stock valued at $52,000 after purchasing an additional 62 shares during the last quarter. Beirne Wealth Consulting Services LLC raised its position in Corning by 0.8% in the 1st quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker's stock valued at $1,094,000 after purchasing an additional 64 shares during the last quarter. Finally, Balefire LLC boosted its stake in Corning by 0.7% during the 1st quarter. Balefire LLC now owns 9,595 shares of the electronics maker's stock worth $1,305,000 after purchasing an additional 65 shares during the period. 69.80% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Truist Financial raised their price objective on shares of Corning from $175.00 to $182.00 and gave the stock a "buy" rating in a research report on Friday, October 2nd. Mizuho dropped their price objective on shares of Corning from $210.00 to $180.00 and set an "outperform" rating on the stock in a research note on Tuesday, September 15th. JPMorgan Chase & Co. reduced their target price on shares of Corning from $200.00 to $170.00 and set a "neutral" rating for the company in a report on Wednesday, July 29th. Oppenheimer reduced their target price on shares of Corning from $230.00 to $200.00 and set an "outperform" rating for the company in a report on Wednesday, July 29th. Finally, 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. Thirteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $177.56.

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Get Our Latest Research Report on GLW

Corning Trading Down 0.4%

Shares of GLW stock opened at $132.16 on Wednesday. The company has a market capitalization of $113.84 billion, a P/E ratio of 60.35, a price-to-earnings-growth ratio of 1.69 and a beta of 1.13. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. The business's 50 day moving average is $153.14 and its two-hundred day moving average is $168.85. Corning Incorporated has a twelve month low of $77.39 and a twelve month high of $271.78.

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Corning (NYSE:GLW - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.76 by $0.02. Corning had a return on equity of 20.09% and a net margin of 11.20%. The business had revenue of $4.74 billion during the quarter, compared to analysts' expectations of $4.63 billion. During the same quarter in the prior year, the business earned $0.60 earnings per share. The company's quarterly revenue was up 17.1% compared to the same quarter last year. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities analysts forecast that Corning Incorporated will post 3.29 EPS for the current year.

Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Friday, November 13th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, November 13th. Corning's payout ratio is currently 51.14%.

Insider Transactions at Corning

In other Corning news, EVP Lewis Steverson sold 13,100 shares of the company's stock in a transaction on Friday, August 28th. The shares were sold at an average price of $151.29, for a total transaction of $1,981,899.00. Following the completion of the transaction, the executive vice president owned 15,052 shares in the company, valued at approximately $2,277,217.08. This represents a 46.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company's stock.

Corning Profile

(Free Report)

Corning Incorporated NYSE: GLW is a technology company that develops and manufactures specialty glass, ceramics and optical-fiber products. Its materials and engineering expertise support communications networks, consumer electronics, automotive systems, life sciences and other industrial applications.

The company's products include optical fiber, cable and connectivity solutions used in telecommunications infrastructure; glass substrates for televisions, computer monitors and other displays; durable cover glass for mobile devices; emissions-control components for vehicles; laboratory glassware and consumables; and specialized glass and ceramic materials for scientific, industrial and semiconductor applications.

Founded in 1851 and headquartered in Corning, New York, the company serves customers through operations and facilities across North America, Europe, Asia and other international markets.

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