Anchor Investment Management LLC Trims Stake in Corning Incorporated $GLW

Key Points

• Anchor Investment Management trimmed its stake in Corning by 10.1% in Q3 to 88,618 shares, valued at about $7.27 million.
• Insider selling has been notable: EVP Lewis Steverson sold 15,366 shares and CFO Edward Schlesinger sold 21,104 shares, with insiders offloading 233,201 shares (~$32.6M) over the last three months.
• Analysts remain broadly positive as Corning expands its AI/data-center optical portfolio (PRIZM licensing) and posted a quarterly beat with management guiding Q1 to $0.66–$0.70, prompting several firms (BofA, UBS, Citi) to raise price targets.

Anchor Investment Management LLC cut its stake in Corning Incorporated (NYSE:GLW - Free Report) by 10.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 88,618 shares of the electronics maker's stock after selling 9,918 shares during the quarter. Anchor Investment Management LLC's holdings in Corning were worth $7,269,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in shares of Corning in the 3rd quarter valued at $25,000. Strengthening Families & Communities LLC acquired a new stake in Corning during the third quarter valued at $27,000. Total Investment Management Inc. purchased a new position in Corning in the second quarter valued at $28,000. Cornerstone Planning Group LLC increased its holdings in Corning by 58.5% in the third quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker's stock valued at $30,000 after buying an additional 124 shares in the last quarter. Finally, Financial Management Professionals Inc. raised its position in shares of Corning by 111.1% in the third quarter. Financial Management Professionals Inc. now owns 380 shares of the electronics maker's stock worth $31,000 after acquiring an additional 200 shares during the period. Institutional investors and hedge funds own 69.80% of the company's stock.

Insider Buying and Selling

In other Corning news, EVP Lewis A. Steverson sold 15,366 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $130.22, for a total transaction of $2,000,960.52. Following the completion of the transaction, the executive vice president owned 3,461 shares of the company's stock, valued at $450,691.42. This trade represents a 81.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Edward A. Schlesinger sold 21,104 shares of Corning stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $104.55, for a total transaction of $2,206,423.20. Following the sale, the chief financial officer owned 54,780 shares of the company's stock, valued at approximately $5,727,249. This represents a 27.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 233,201 shares of company stock valued at $32,614,558 over the last three months. Company insiders own 0.40% of the company's stock.

More Corning News

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Bank of America raised its price target to $144 and reiterated a "buy" rating, citing a potential ~$10.3B scale-out revenue opportunity that could drive meaningful upside. BofA price target raise
• Positive Sentiment: Corning expanded its AI data-center connectivity portfolio by licensing PRIZM TMT ferrule technology from US Conec, improving high-density optical connectivity for AI/GenAI networks — a direct catalyst for optical revenue growth. Zacks: Corning expands AI data center portfolio
• Positive Sentiment: Coverage consensus is supportive: analysts on aggregate have a "moderate buy" recommendation, which can sustain investor demand and limit downside. Analyst consensus: Moderate Buy
• Positive Sentiment: Zacks highlighted GLW as a top-ranked growth stock under its style scores, reinforcing the growth narrative for momentum investors. Zacks: Top-ranked growth stock
• Positive Sentiment: Market coverage notes strong GenAI-driven demand for optical communications, supporting near-term revenue momentum in Corning’s Optical Communications segment. Yahoo: GenAI-driven optical demand
• Neutral Sentiment: Some outlets present mixed analyst views and valuation questions despite recent gains; these pieces underscore investor caution around stretched multiples after a large run-up. Globe and Mail: Mixed analyst opinions
• Neutral Sentiment: An investor-focused article lists two bullish reasons and one skepticism point — useful for watchlist investors but highlights the need to weigh growth vs. valuation. Yahoo: 2 reasons to like, 1 to be skeptical

Wall Street Analyst Weigh In

A number of research firms have recently commented on GLW. Oppenheimer set a $120.00 target price on Corning in a research report on Thursday, January 29th. Zacks Research lowered Corning from a "strong-buy" rating to a "hold" rating in a report on Friday, November 21st. UBS Group upped their target price on Corning from $125.00 to $160.00 and gave the stock a "buy" rating in a research note on Friday, February 20th. Morgan Stanley increased their target price on Corning from $103.00 to $127.00 and gave the company an "equal weight" rating in a research report on Monday, February 23rd. Finally, Citigroup boosted their price target on shares of Corning from $120.00 to $170.00 and gave the stock a "buy" rating in a report on Wednesday, February 25th. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $131.75.

Corning Stock Performance

Corning stock opened at $129.19 on Friday. The firm has a 50 day simple moving average of $117.74 and a 200-day simple moving average of $95.28. The stock has a market cap of $110.84 billion, a price-to-earnings ratio of 70.21, a price-to-earnings-growth ratio of 2.22 and a beta of 1.05. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.04. Corning Incorporated has a 1-year low of $37.31 and a 1-year high of $162.10.

Corning (NYSE:GLW - Get Free Report) last released its quarterly earnings data on Wednesday, January 28th. The electronics maker reported $0.72 EPS for the quarter, beating analysts' consensus estimates of $0.71 by $0.01. The firm had revenue of $4.41 billion for the quarter, compared to analysts' expectations of $4.35 billion. Corning had a return on equity of 18.72% and a net margin of 10.21%.The firm's quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.57 earnings per share. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. On average, analysts expect that Corning Incorporated will post 2.33 EPS for the current year.

Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Friday, February 27th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, February 27th. Corning's payout ratio is 60.87%.

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.

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