Corning Incorporated $GLW Stock Sold by Provident Investment Management Inc.

Provident Investment Management Inc. trimmed its stake in shares of Corning Incorporated (NYSE:GLW) by 4.3% in the third quarter, HoldingsChannel.com reports. The fund owned 230,368 shares of the electronics maker’s stock after selling 10,376 shares during the quarter. Corning comprises about 3.5% of Provident Investment Management Inc.’s investment portfolio, making the stock its 10th biggest position. Provident Investment Management Inc.’s holdings in Corning were worth $35,421,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Compass Ion Advisors LLC lifted its position in Corning by 3.9% during the third quarter. Compass Ion Advisors LLC now owns 3,964 shares of the electronics maker’s stock worth $609,000 after purchasing an additional 148 shares during the period. Meridian Financial Partners LLC bought a new position in Corning in the 3rd quarter valued at about $1,895,000. Bernardo Wealth Planning LLC increased its holdings in Corning by 107.0% in the 3rd quarter. Bernardo Wealth Planning LLC now owns 3,864 shares of the electronics maker’s stock valued at $594,000 after buying an additional 1,997 shares during the period. Signaturefd LLC increased its holdings in Corning by 5.7% in the 3rd quarter. Signaturefd LLC now owns 29,572 shares of the electronics maker’s stock valued at $4,547,000 after buying an additional 1,582 shares during the period. Finally, BG Investment Services LLC bought a new position in Corning in the 3rd quarter valued at about $340,000. 69.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Citigroup dropped their target price on shares of Corning from $240.00 to $220.00 and set a “buy” rating for the company in a research report on Wednesday, July 29th. Truist Financial increased their price target on shares of Corning from $175.00 to $182.00 and gave the stock a “buy” rating in a research report on Friday, October 2nd. Wall Street Zen raised shares of Corning from a “hold” rating to a “buy” rating in a research note on Saturday, October 10th. UBS Group lifted their price objective on shares of Corning from $196.00 to $201.00 and gave the company a “buy” rating in a research note on Monday, October 5th. Finally, China Renaissance upgraded shares of Corning from a “hold” rating to a “buy” rating and set a $238.00 price objective for the company in a research report on Tuesday, September 8th. Thirteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $177.25.

Corning Price Performance

Shares of GLW stock opened at $123.75 on Monday. The company has a quick ratio of 1.24, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. Corning Incorporated has a twelve month low of $77.39 and a twelve month high of $271.78. The company has a market cap of $106.60 billion, a P/E ratio of 56.51, a P/E/G ratio of 1.56 and a beta of 1.13. The business has a fifty day simple moving average of $150.96 and a 200 day simple moving average of $168.43.

Corning (NYSE:GLW) last released its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $4.63 billion. During the same period last year, the firm posted $0.60 earnings per share. Corning’s 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, sell-side analysts forecast that Corning Incorporated will post 3.30 EPS for the current fiscal year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Friday, November 13th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.12 annualized dividend and a yield of 0.9%. Corning’s payout ratio is presently 51.14%.

More Corning News

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning’s presentation at the OCP Global Summit highlighted demand for optical fiber and high-density connectivity used in AI data centers. Long-term supply agreements with Amazon, NVIDIA, Meta and Verizon improve visibility for the Optical Communications business and could support future growth. Will AI Fiber Demand Change Corning’s Narrative
• Positive Sentiment: Analyst estimates are rising ahead of third-quarter results, with AI-driven optical demand and major customer agreements viewed as potential earnings catalysts. Solar profitability recovery remains an important factor for the quarter. Is Corning Stock a Smart Investment Option Before Q3 Earnings Release?
• Neutral Sentiment: Wall Street is closely focused on third-quarter revenue, earnings and operating metrics. Corning’s latest reported quarter exceeded consensus expectations, with revenue up 17.1% year over year, while current guidance calls for third-quarter EPS of $0.85 to $0.89. Unlocking Q3 Potential of Corning
• Negative Sentiment: JPMorgan lowered its price target for Corning to $165, triggering renewed selling pressure. The reduction suggests the bank sees less near-term upside after the stock’s substantial multiyear rally, despite maintaining interest in the AI-fiber opportunity. JPMorgan Cuts Target for Corning Stock to USD 165
• Negative Sentiment: Pomerantz LLP announced an investigation into potential claims on behalf of Corning investors. The announcement does not establish wrongdoing, but it adds headline and legal risk. Pomerantz Investor Alert

Insider Activity at Corning

In other news, EVP Lewis Steverson sold 13,100 shares of the stock in a transaction dated Friday, August 28th. The shares were 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 owned 15,052 shares of the company’s stock, valued at approximately $2,277,217.08. This represents a 46.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.25% of the company’s stock.

Corning Profile

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.