Teachers Retirement System of The State of Kentucky Trims Position in Corning Incorporated $GLW

Teachers Retirement System of The State of Kentucky lessened its holdings in shares of Corning Incorporated (NYSE:GLW) by 10.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 124,345 shares of the electronics maker’s stock after selling 14,113 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Corning were worth $16,907,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Corning in the fourth quarter valued at $921,435,000. Capital Research Global Investors lifted its position in shares of Corning by 52.7% in the 4th quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock worth $1,478,959,000 after purchasing an additional 5,831,873 shares during the period. Polar Capital Holdings Plc boosted its stake in shares of Corning by 141.2% during the 3rd quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock valued at $329,035,000 after purchasing an additional 2,348,125 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Corning by 102.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,562,644 shares of the electronics maker’s stock valued at $399,505,000 after buying an additional 2,304,676 shares during the period. Finally, Evergreen Quality Fund GP Ltd. bought a new position in Corning in the fourth quarter worth about $185,312,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Insider Buying and Selling

In related news, SVP Soumya Seetharam sold 20,000 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the sale, the senior vice president directly owned 25,570 shares of the company’s stock, valued at approximately $5,273,301.10. This represents a 43.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP John Z. Zhang sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the sale, the vice president owned 5,138 shares of the company’s stock, valued at approximately $1,019,070.92. This represents a 66.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 160,655 shares of company stock worth $30,692,560 over the last quarter. 0.25% of the stock is owned by insiders.

Analysts Set New Price Targets

GLW has been the topic of several research reports. Truist Financial lifted their price objective on Corning from $149.00 to $205.00 and gave the company a “hold” rating in a research report on Monday, June 22nd. Oppenheimer raised their target price on Corning from $210.00 to $230.00 and gave the company an “outperform” rating in a research note on Tuesday, July 7th. Zacks Research lowered Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. UBS Group set a $243.00 price target on Corning in a research note on Monday, July 6th. Finally, Barclays upped their price target on Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Corning presently has an average rating of “Moderate Buy” and a consensus price target of $194.69.

Corning Stock Performance

Corning stock opened at $183.14 on Tuesday. Corning Incorporated has a twelve month low of $51.32 and a twelve month high of $271.78. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $157.62 billion, a P/E ratio of 87.63, a PEG ratio of 2.50 and a beta of 1.09. The stock’s 50 day moving average is $193.56 and its 200 day moving average is $151.06.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter in the previous year, the business earned $0.54 earnings per share. The firm’s quarterly revenue was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities research analysts predict that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Dividend Announcement

The company also recently declared 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. The ex-dividend date is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a yield of 0.6%. Corning’s payout ratio is presently 53.59%.

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.