Waverly Advisors LLC Sells 13,395 Shares of Corning Incorporated $GLW

Waverly Advisors LLC cut its holdings in Corning Incorporated (NYSE:GLW) by 7.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 155,528 shares of the electronics maker’s stock after selling 13,395 shares during the quarter. Waverly Advisors LLC’s holdings in Corning were worth $21,147,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Signature Equity Partners LLC lifted its stake in shares of 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 increased its position in Corning by 0.8% during the first quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker’s stock worth $1,094,000 after buying an additional 64 shares during the last quarter. Balefire LLC raised its holdings in Corning by 0.7% during the first quarter. Balefire LLC now owns 9,595 shares of the electronics maker’s stock valued at $1,305,000 after buying an additional 65 shares in the last quarter. Millstone Evans Group LLC lifted its position in shares of Corning by 1.3% in the first quarter. Millstone Evans Group LLC now owns 5,393 shares of the electronics maker’s stock worth $733,000 after buying an additional 67 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in shares of Corning by 1.6% in the first quarter. Geneos Wealth Management Inc. now owns 4,585 shares of the electronics maker’s stock worth $623,000 after buying an additional 70 shares during the last quarter. 69.80% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Corning news, SVP Jaymin Amin sold 27,395 shares of the stock in a transaction 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 completion of the sale, the senior vice president directly owned 94,400 shares of the company’s stock, valued at $18,138,016. This represents a 22.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP John Z. Zhang sold 10,000 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the completion of the sale, the vice president owned 5,138 shares in the company, valued at $1,019,070.92. This represents a 66.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 160,655 shares of company stock valued at $30,692,560 in the last 90 days. 0.25% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on GLW. Truist Financial increased their price objective on Corning from $149.00 to $205.00 and gave the company a “hold” rating in a report on Monday, June 22nd. Barclays boosted their target price on Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Mizuho upped their target price on Corning from $220.00 to $270.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Oppenheimer lifted their price target on shares of Corning from $210.00 to $230.00 and gave the company an “outperform” rating in a research report on Tuesday, July 7th. Finally, Citigroup boosted their price objective on shares of Corning from $225.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Nine research 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.com, Corning presently has a consensus rating of “Moderate Buy” and an average target price of $194.69.

Corning Trading Down 0.1%

Corning stock opened at $146.57 on Monday. Corning Incorporated has a 52 week low of $54.89 and a 52 week high of $271.78. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. The firm has a market capitalization of $126.14 billion, a PE ratio of 70.13, a PEG ratio of 1.93 and a beta of 1.09. The business’s 50-day simple moving average is $188.01 and its 200-day simple moving average is $155.61.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. The firm had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Equities research analysts forecast that Corning Incorporated will post 3.18 earnings per share for the current year.

Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio is currently 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.