Hunter Associates Investment Management LLC Sells 8,716 Shares of Corning Incorporated $GLW

Hunter Associates Investment Management LLC decreased its position in Corning Incorporated (NYSE:GLW) by 11.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,879 shares of the electronics maker’s stock after selling 8,716 shares during the quarter. Corning makes up 1.2% of Hunter Associates Investment Management LLC’s investment portfolio, making the stock its 17th largest position. Hunter Associates Investment Management LLC’s holdings in Corning were worth $9,089,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Research Global Investors bought a new stake in shares of Corning in the third quarter worth about $907,164,000. Norges Bank purchased a new position in Corning during the 4th quarter valued at about $921,435,000. Wellington Management Group LLP raised its position in Corning by 30.3% during the 3rd quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock valued at $1,358,211,000 after purchasing an additional 3,848,540 shares during the last quarter. Polar Capital Holdings Plc raised its position in 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 during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Corning by 102.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,562,644 shares of the electronics maker’s stock worth $399,505,000 after buying an additional 2,304,676 shares during the period. 69.80% of the stock is owned by institutional investors.

Insider Transactions at Corning

In related news, SVP Jaymin Amin sold 27,395 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $192.14, for a total value of $5,263,675.30. Following the sale, the senior vice president owned 94,400 shares in the company, valued at $18,138,016. This represents a 22.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP John Z. Zhang sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $198.34, for a total value of $1,983,400.00. Following the transaction, the vice president directly owned 5,138 shares of the company’s stock, valued at approximately $1,019,070.92. This trade represents a 66.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 160,655 shares of company stock worth $30,692,560. Company insiders own 0.25% of the company’s stock.

Corning Stock Down 0.3%

Shares of Corning stock opened at $196.12 on Friday. Corning Incorporated has a 1 year low of $51.32 and a 1 year high of $271.78. The firm has a market cap of $168.79 billion, a price-to-earnings ratio of 93.84, a PEG ratio of 2.82 and a beta of 1.09. The company has a 50-day moving average of $190.59 and a 200 day moving average of $146.38. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. The business had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. Corning’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, sell-side analysts anticipate that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s payout ratio is currently 53.59%.

Wall Street Analyst Weigh In

GLW has been the topic of a number of recent analyst reports. Truist Financial lifted their price objective on Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a research report on Monday, June 22nd. Morgan Stanley set a $180.00 target price on Corning in a report on Friday, May 8th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corning in a research note on Friday, May 15th. UBS Group lifted their price target on shares of Corning from $223.00 to $228.00 and gave the company a “buy” rating in a report on Friday, June 5th. Finally, Citigroup boosted their price objective on shares of Corning from $175.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $186.46.

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.