Corning Incorporated $GLW Shares Sold by Manchester Financial Inc.

Manchester Financial Inc. decreased its position in shares of Corning Incorporated (NYSE:GLW) by 75.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,058 shares of the electronics maker’s stock after selling 6,335 shares during the quarter. Manchester Financial Inc.’s holdings in Corning were worth $526,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mufg Securities Americas Inc. lifted its holdings in shares of Corning by 9.2% in the 2nd quarter. Mufg Securities Americas Inc. now owns 23,588 shares of the electronics maker’s stock valued at $6,025,000 after purchasing an additional 1,985 shares during the last quarter. Ferguson Wellman Capital Management Inc. grew its stake in Corning by 3.8% during the 2nd quarter. Ferguson Wellman Capital Management Inc. now owns 15,862 shares of the electronics maker’s stock worth $4,052,000 after buying an additional 577 shares during the last quarter. Nissay Asset Management Corp Japan grew its stake in Corning by 1.4% during the 2nd quarter. Nissay Asset Management Corp Japan now owns 107,378 shares of the electronics maker’s stock worth $27,428,000 after buying an additional 1,453 shares during the last quarter. Wellington Management Group LLP increased its position in Corning by 50.9% during the second quarter. Wellington Management Group LLP now owns 13,174,194 shares of the electronics maker’s stock worth $3,365,084,000 after buying an additional 4,446,514 shares during the period. Finally, Archer Investment Corp acquired a new position in Corning during the second quarter worth approximately $575,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on GLW. JPMorgan Chase & Co. decreased their price objective on Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, July 29th. Barclays cut their target price on shares of Corning from $180.00 to $129.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Bank of America increased their price target 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. Oppenheimer lowered their price objective on shares of Corning from $230.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th. Finally, Citigroup dropped their price objective on shares of Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a research note on Wednesday, July 29th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Corning presently has an average rating of “Moderate Buy” and an average target price of $174.08.

Insider Buying and Selling

In other news, CEO Wendell P. Weeks sold 100,000 shares of the firm’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 completion of the sale, the chief executive officer owned 908,353 shares in the company, valued at approximately $169,371,500.38. This trade represents a 9.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.25% of the company’s stock.

Corning Trading Down 2.6%

Shares of GLW stock opened at $148.87 on Friday. The company has a market capitalization of $128.24 billion, a P/E ratio of 67.98, a price-to-earnings-growth ratio of 1.96 and a beta of 1.14. 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 $171.18 and its two-hundred day moving average is $164.60. Corning Incorporated has a twelve month low of $66.14 and a twelve month high of $271.78.

Corning (NYSE:GLW) 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 3.27 EPS for the current year.

Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a dividend of $0.28 per share. The ex-dividend date is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. Corning’s dividend payout ratio is presently 51.14%.

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.