Amundi Trims Stock Holdings in Corning Incorporated $GLW

Amundi reduced its position in Corning Incorporated (NYSE:GLW - Free Report) by 15.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,958,324 shares of the electronics maker's stock after selling 696,930 shares during the quarter. Amundi owned about 0.46% of Corning worth $538,213,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of GLW. Merit Financial Group LLC grew its holdings in Corning by 16.9% during the fourth quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker's stock worth $3,940,000 after acquiring an additional 6,493 shares during the period. Security National Bank lifted its holdings in Corning by 340.4% in the fourth quarter. Security National Bank now owns 72,523 shares of the electronics maker's stock valued at $6,350,000 after acquiring an additional 56,056 shares during the period. Principal Financial Group Inc. boosted its position in shares of Corning by 1.2% during the 1st quarter. Principal Financial Group Inc. now owns 893,451 shares of the electronics maker's stock worth $121,483,000 after purchasing an additional 10,591 shares in the last quarter. Wealthfront Advisers LLC grew its stake in shares of Corning by 36.2% during the 1st quarter. Wealthfront Advisers LLC now owns 92,425 shares of the electronics maker's stock worth $12,567,000 after purchasing an additional 24,589 shares during the period. Finally, Three Seasons Wealth LLC purchased a new position in shares of Corning in the 4th quarter valued at about $1,750,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Corning Stock Down 1.5%

Shares of Corning stock opened at $124.06 on Thursday. Corning Incorporated has a twelve month low of $61.44 and a twelve month high of $271.78. The stock has a market cap of $106.77 billion, a price-to-earnings ratio of 56.65, a price-to-earnings-growth ratio of 1.66 and a beta of 1.09. The company has a current ratio of 1.81, a quick ratio of 1.06 and a debt-to-equity ratio of 0.59. The company has a fifty day moving average price of $185.16 and a 200 day moving average price of $156.53.

Corning (NYSE:GLW - Get Free Report) last announced its earnings results 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. The business had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. The business's quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities research analysts forecast that Corning Incorporated will post 3.18 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be paid a $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.9%. Corning's payout ratio is 53.59%.

Insiders Place Their Bets

In other news, SVP Jaymin Amin sold 27,395 shares of the firm's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $192.14, for a total value of $5,263,675.30. Following the transaction, the senior vice president directly owned 94,400 shares in the company, valued at approximately $18,138,016. This trade represents a 22.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP John Z. Zhang sold 10,000 shares of Corning stock in a transaction dated 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. This represents a 66.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 160,655 shares of company stock valued at $30,692,560. Insiders own 0.25% of the company's stock.

Key Corning News

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning reported second-quarter revenue of $4.74 billion, up 17% year over year, while core EPS rose 30% to $0.78, exceeding the $0.76 consensus estimate. Corning Q2 results
• Positive Sentiment: Optical Communications sales increased 32% to $2.07 billion, led by a 65% gain in Enterprise Networks as generative-AI products continued to grow rapidly. Solar sales also climbed 90%, supporting revenue, margins and free cash flow. Corning beats Q2 estimates
• Positive Sentiment: Management highlighted demand from AI data centers and its Springboard plan, which is intended to accelerate sales and profitability. Corning’s fiber products are benefiting from the shift toward higher-bandwidth data-center networks. GLW AI growth plan
• Neutral Sentiment: Citigroup maintained a Buy rating but reduced its price target from $240 to $220. JPMorgan lowered its target from $200 to $170 and kept a Neutral rating, indicating analysts still see potential upside but have moderated expectations. Analyst target changes
• Negative Sentiment: Third-quarter revenue guidance of $4.9 billion to $5.0 billion was viewed as roughly in line with, rather than above, Wall Street’s $5.0 billion expectation. Although EPS guidance of $0.85-$0.89 exceeded the consensus midpoint, investors wanted a stronger outlook after the stock’s prior AI-driven rally. Corning guidance reaction
• Negative Sentiment: The guidance disappointment triggered a broad selloff in optical and AI infrastructure stocks. Analysts and market commentators also cited valuation concerns and a possible rotation away from recent AI winners, making the earnings beat insufficient to support the share price. Corning AI trade and guidance

Wall Street Analyst Weigh In

A number of research analysts have issued reports on GLW shares. Bank of America increased their target price on shares of Corning from $223.00 to $243.00 and gave the company a "buy" rating in a report on Monday, July 6th. Zacks Research cut Corning from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 26th. Weiss Ratings downgraded Corning from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, July 24th. Morgan Stanley cut their price target on Corning from $180.00 to $165.00 and set an "equal weight" rating for the company in a research note on Wednesday. Finally, Citigroup reduced their target price on Corning from $240.00 to $220.00 and set a "buy" rating on the stock in a research note on Wednesday. Nine research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Corning currently has a consensus rating of "Moderate Buy" and a consensus price target of $176.38.

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.

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