Corning Incorporated $GLW Shares Sold by Lafayette Investments Inc.

Lafayette Investments Inc. lessened its stake in Corning Incorporated (NYSE:GLW) by 54.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,102 shares of the electronics maker’s stock after selling 20,769 shares during the quarter. Lafayette Investments Inc.’s holdings in Corning were worth $2,325,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in Corning during the third quarter valued at approximately $25,000. Berbice Capital Management LLC acquired a new position in shares of Corning in the 4th quarter worth approximately $26,000. Basepoint Wealth LLC acquired a new position in shares of Corning in the 4th quarter worth approximately $26,000. Kemnay Advisory Services Inc. bought a new stake in shares of Corning in the 4th quarter valued at approximately $27,000. Finally, Litman Gregory Wealth Management LLC bought a new stake in shares of Corning in the 4th quarter valued at approximately $31,000. Institutional investors own 69.80% of the company’s stock.

Insider Buying and Selling

In related news, SVP Michaune D. Tillman sold 3,260 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the sale, the senior vice president owned 10,174 shares of the company’s stock, valued at $2,106,221.48. This trade represents a 24.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jaymin Amin sold 27,395 shares of Corning stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the completion of the sale, the senior vice president owned 94,400 shares in the company, valued at approximately $18,138,016. This represents a 22.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 160,655 shares of company stock valued at $30,692,560 in the last three months. 0.25% of the stock is owned by corporate insiders.

Analyst Ratings Changes

GLW has been the topic of several research analyst reports. Zacks Research cut Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. UBS Group boosted their target price on shares of Corning from $223.00 to $228.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Bank of America increased their target price on shares of Corning from $155.00 to $186.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Truist Financial raised their price target 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. Finally, Susquehanna lifted their price target on shares of Corning from $125.00 to $180.00 and gave the company a “positive” rating in a report on Wednesday, April 29th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Corning presently has a consensus rating of “Moderate Buy” and an average target price of $186.46.

Corning Stock Down 0.3%

Shares of Corning stock opened at $196.12 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. The business’s 50 day simple moving average is $190.59 and its 200-day simple moving average is $146.38. The stock has a market capitalization of $168.79 billion, a price-to-earnings ratio of 93.84, a PEG ratio of 2.82 and a beta of 1.09. Corning Incorporated has a twelve month low of $51.32 and a twelve month high of $271.78.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The business had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter last year, the business posted $0.54 EPS. The business’s revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Equities research analysts forecast that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders 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 yield of 0.6%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio (DPR) is presently 53.59%.

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.