Brown Lisle Cummings Inc. Has $1.72 Million Position in Corning Incorporated $GLW

Brown Lisle Cummings Inc. lessened its stake in Corning Incorporated (NYSE:GLW) by 18.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,669 shares of the electronics maker’s stock after selling 2,831 shares during the period. Brown Lisle Cummings Inc.’s holdings in Corning were worth $1,723,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Brighton Jones LLC boosted its holdings in Corning by 46.0% in the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock valued at $319,000 after acquiring an additional 2,114 shares during the last quarter. Retirement Planning Co of New England Inc. acquired a new stake in Corning during the 1st quarter valued at approximately $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Corning by 9.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock worth $2,962,000 after purchasing an additional 5,522 shares during the last quarter. Sivia Capital Partners LLC bought a new position in Corning during the 2nd quarter worth approximately $401,000. Finally, Schnieders Capital Management LLC. acquired a new position in shares of Corning in the 2nd quarter worth approximately $266,000. 69.80% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Corning news, VP John Z. Zhang sold 10,000 shares of the business’s stock in a transaction on 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 completion of the sale, the vice president owned 5,138 shares in the company, valued at approximately $1,019,070.92. The trade was a 66.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Wendell P. Weeks sold 100,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the transaction, the chief executive officer owned 908,353 shares in the company, valued at approximately $169,371,500.38. The trade was a 9.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 160,655 shares of company stock worth $30,692,560 in the last quarter. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on GLW shares. Citigroup upped their price objective on shares of Corning from $175.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Barclays boosted their target price on shares of Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Truist Financial upped their price target on shares of Corning from $149.00 to $205.00 and gave the company a “hold” rating in a research report on Monday. Susquehanna increased their price target on Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a report on Wednesday, April 29th. Finally, Zacks Research lowered Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $182.62.

Corning Stock Up 6.1%

GLW stock opened at $205.91 on Thursday. The stock’s 50 day simple moving average is $182.50 and its 200 day simple moving average is $140.14. The company has a market cap of $177.21 billion, a P/E ratio of 98.52, a price-to-earnings-growth ratio of 2.78 and a beta of 1.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. Corning Incorporated has a fifty-two week low of $51.09 and a fifty-two week high of $217.09.

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

Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Friday, May 29th. Corning’s dividend payout ratio (DPR) is currently 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.