Corning Incorporated $GLW Stock: Parkside Investments LLC Trims Holdings

Parkside Investments LLC lowered its position in Corning Incorporated (NYSE:GLW) by 17.0% in the third quarter, Holdings Channel.com reports. 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 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. State Street Corp increased its position in Corning by 13.4% during the 2nd quarter. State Street Corp now owns 41,108,384 shares of the electronics maker’s stock worth $10,500,315,000 after purchasing an additional 4,845,027 shares during the period. Bank of America Corp DE raised its stake in shares of Corning by 29.2% during the 2nd quarter. Bank of America Corp DE now owns 18,730,616 shares of the electronics maker’s stock worth $4,784,361,000 after buying an additional 4,231,507 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Corning by 50.9% in the 2nd quarter. Wellington Management Group LLP now owns 13,174,194 shares of the electronics maker’s stock valued at $3,365,084,000 after buying an additional 4,446,514 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Corning in the 2nd quarter valued at approximately $1,510,911,000. Finally, Legal & General Group Plc acquired a new stake in shares of Corning in the 2nd quarter valued at approximately $1,212,283,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Corning Trading Down 0.4%

Shares of GLW opened at $132.16 on Wednesday. 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 firm’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. The firm has a market capitalization of $113.84 billion, a P/E ratio of 60.35, a PEG ratio of 1.69 and a beta of 1.13.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. Corning had a net margin of 11.20% and a return on equity of 20.09%. The company had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.63 billion. During the same period last year, the company posted $0.60 earnings per share. The firm’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. On average, research analysts predict that Corning Incorporated will post 3.29 earnings per share for the current fiscal year.

Corning Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. UBS Group lifted their price target on Corning from $196.00 to $201.00 and gave the company a “buy” rating in a research note on Monday, October 5th. Morgan Stanley cut their price objective on Corning from $180.00 to $165.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 29th. Mizuho cut their price objective on Corning from $210.00 to $180.00 and set an “outperform” rating for the company in a research report on Tuesday, September 15th. China Renaissance raised Corning from a “hold” rating to a “buy” rating and set a $238.00 target price for the company in a report on Tuesday, September 8th. Finally, Weiss Ratings lowered shares of Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. Thirteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $177.56.

Insider Buying and Selling at Corning

In related news, EVP Lewis Steverson sold 13,100 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $151.29, for a total value of $1,981,899.00. Following the completion of the transaction, the executive vice president directly owned 15,052 shares of the company’s stock, valued at $2,277,217.08. This trade represents a 46.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

About Corning

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.