Barclays PLC Sells 205,609 Shares of Corning Incorporated $GLW

Key Points

• Barclays PLC cut its Corning stake by 12.6% in the fourth quarter, selling 205,609 shares and ending with 1,428,753 shares valued at about $125.1 million.
• Corning reported solid quarterly results, with EPS of $0.70 and revenue of $4.35 billion, both slightly ahead of analyst expectations; revenue rose 18.1% year over year.
• Analysts remain generally bullish on GLW, with a consensus rating of “Moderate Buy” and an average price target of $178.31, even as the stock recently traded above that level at $186.54.

Barclays PLC lessened its stake in shares of Corning Incorporated (NYSE:GLW - Free Report) by 12.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,428,753 shares of the electronics maker's stock after selling 205,609 shares during the quarter. Barclays PLC owned approximately 0.17% of Corning worth $125,102,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Beese Fulmer Investment Management Inc. boosted its position in shares of Corning by 2.5% in the 4th quarter. Beese Fulmer Investment Management Inc. now owns 3,836 shares of the electronics maker's stock worth $336,000 after purchasing an additional 92 shares in the last quarter. 3Chopt Investment Partners LLC boosted its position in shares of Corning by 1.0% in the 4th quarter. 3Chopt Investment Partners LLC now owns 10,248 shares of the electronics maker's stock worth $897,000 after purchasing an additional 97 shares in the last quarter. Patten & Patten Inc. TN boosted its position in shares of Corning by 0.6% in the 4th quarter. Patten & Patten Inc. TN now owns 17,796 shares of the electronics maker's stock worth $1,558,000 after purchasing an additional 100 shares in the last quarter. Vermillion Wealth Management Inc. boosted its position in shares of Corning by 32.8% in the 4th quarter. Vermillion Wealth Management Inc. now owns 405 shares of the electronics maker's stock worth $36,000 after purchasing an additional 100 shares in the last quarter. Finally, Joel Isaacson & Co. LLC boosted its position in shares of Corning by 0.5% in the 4th quarter. Joel Isaacson & Co. LLC now owns 20,518 shares of the electronics maker's stock worth $1,797,000 after purchasing an additional 102 shares in the last quarter. Institutional investors own 69.80% of the company's stock.

Insider Transactions at Corning

In related news, SVP Jaymin Amin sold 27,395 shares of Corning stock in a transaction dated 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 completion of the transaction, the senior vice president owned 94,400 shares in the company, valued at $18,138,016. The trade was a 22.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 value of $1,983,400.00. Following the completion of the transaction, the vice president owned 5,138 shares of the company's stock, valued at approximately $1,019,070.92. This represents a 66.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 160,655 shares of company stock worth $30,692,561 over the last quarter. Company insiders own 0.25% of the company's stock.

Corning Stock Performance

NYSE GLW opened at $186.54 on Tuesday. The stock has a 50-day simple moving average of $177.92 and a two-hundred day simple moving average of $134.76. The firm has a market capitalization of $160.54 billion, a P/E ratio of 89.25, a PEG ratio of 2.56 and a beta of 1.15. Corning Incorporated has a fifty-two week low of $49.81 and a fifty-two week high of $211.79. 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 (NYSE:GLW - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.01. The business had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The company's revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the business posted $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities analysts forecast that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Friday, May 29th. Corning's payout ratio is currently 53.59%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GLW shares. Morgan Stanley set a $180.00 price objective on Corning in a research report on Friday, May 8th. UBS Group raised their price objective on Corning from $223.00 to $228.00 and gave the stock a "buy" rating in a research report on Friday, June 5th. Oppenheimer raised their price objective on Corning from $120.00 to $210.00 and gave the stock an "outperform" rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. lifted their price target on Corning from $175.00 to $185.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. Finally, Bank of America lifted their price target on Corning from $155.00 to $186.00 and gave the stock a "buy" rating in a research report on Monday, April 20th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $178.31.

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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