Blue Edge Capital LLC Decreases Stake in Corning Incorporated $GLW

Key Points

• Blue Edge Capital cut its Corning stake by 31.2% in the second quarter, selling 14,565 shares and retaining 32,095 shares valued at approximately $8.2 million. Institutional investors collectively own 69.8% of Corning.
• Corning reported quarterly EPS of $0.78, exceeding estimates by $0.02, while revenue rose 17.1% year over year to $4.74 billion. The company also declared a quarterly dividend of $0.28 per share, equal to a 0.7% annualized yield.
• Analyst sentiment remains mixed: China Renaissance upgraded the stock to “buy” with a $238 target, while Morgan Stanley lowered its target to $165 and maintained an “equal weight” rating. Corning’s valuation remains elevated, and an executive recently sold 13,100 shares.

Blue Edge Capital LLC decreased its holdings in Corning Incorporated (NYSE:GLW - Free Report) by 31.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,095 shares of the electronics maker's stock after selling 14,565 shares during the quarter. Blue Edge Capital LLC's holdings in Corning were worth $8,198,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Brighton Jones LLC increased its position in Corning by 46.0% during the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker's stock valued at $319,000 after acquiring an additional 2,114 shares during the last quarter. Retirement Planning Co of New England Inc. bought a new position in Corning in the first quarter worth approximately $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Corning by 9.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker's stock worth $2,962,000 after acquiring an additional 5,522 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Corning during the 2nd quarter valued at $401,000. Finally, Schnieders Capital Management LLC. bought a new stake in shares of Corning during the 2nd quarter valued at $266,000. Institutional investors own 69.80% of the company's stock.

Insider Activity

In other news, EVP Lewis Steverson sold 13,100 shares of the company's stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $151.29, for a total transaction of $1,981,899.00. Following the sale, the executive vice president directly owned 15,052 shares in the company, valued at approximately $2,277,217.08. This represents a 46.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company's stock.

Corning Trading Up 1.6%

Shares of Corning stock opened at $168.66 on Thursday. 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 $72.72 and a twelve month high of $271.78. The business has a 50-day moving average price of $159.88 and a 200-day moving average price of $166.07. The firm has a market cap of $145.28 billion, a price-to-earnings ratio of 77.01, a PEG ratio of 2.12 and a beta of 1.16.

Corning (NYSE:GLW - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.02. The business had revenue of $4.74 billion for the quarter, compared to analysts' expectations of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.The company's revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities research analysts anticipate that Corning Incorporated will post 3.27 EPS for the current fiscal year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. Corning's payout ratio is 51.14%.

Key Stories Impacting Corning

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning and Verizon signed a multi-year, multi-billion-dollar agreement covering more than 80 million miles of high-density optical fiber and connectivity solutions from 2027 through 2032. The deal provides longer-term revenue visibility and supports Verizon’s broadband expansion and AI-related network investments. Verizon signs optical fiber deal with Corning to expand broadband, support AI growth
• Positive Sentiment: The Verizon contract adds to Corning’s previously announced relationships with Meta, Amazon and NVIDIA, reinforcing the view that optical communications is becoming a key growth engine as data-center and AI network demand expands. Verizon and Corning Just Signed an 80 Million Mile Fiber Deal to Wire the AI Boom
• Positive Sentiment: Analyst sentiment also improved, with China Renaissance upgrading GLW from “hold” to “buy” and assigning a $238 price target. Optical-infrastructure stocks broadly rallied alongside Corning. Optical Stocks Surge as Corning Inks Multibillion-Dollar Supply Deal With Verizon
• Neutral Sentiment: The agreement extends Corning’s long-standing relationship with Verizon, but deliveries do not begin until 2027. The near-term financial impact will therefore depend on existing backlogs and current demand. Corning’s latest reported quarter showed 17.1% year-over-year revenue growth and earnings above consensus.
• Negative Sentiment: After the sharp rally, valuation and execution risks are more significant. Corning trades at an elevated earnings multiple, leaving less room for disappointment from manufacturing delays, weaker communications demand or a broader pullback in AI-related stocks. Recent insider activity also showed sales rather than purchases by several executives.

Analyst Ratings Changes

A number of equities analysts recently commented on GLW shares. Morgan Stanley decreased their target price on Corning from $180.00 to $165.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 29th. China Renaissance upgraded Corning from a "hold" rating to a "buy" rating and set a $238.00 price target for the company in a research report on Tuesday. UBS Group reaffirmed a "buy" rating and set a $196.00 price objective on shares of Corning in a research report on Wednesday, July 29th. Weiss Ratings downgraded Corning from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, August 21st. Finally, Zacks Research lowered shares of Corning from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 26th. Eleven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, Corning currently has an average rating of "Moderate Buy" and an average price target of $178.64.

Corning Company Profile

Corning Incorporated NYSE: GLW is a global materials science and technology company that develops specialty glass, ceramics and optical fiber products. Founded in 1851 and headquartered in Corning, New York, the company combines expertise in glass science, ceramics science, optical physics and manufacturing to serve communications, consumer electronics, automotive, life sciences and other industrial markets.

Corning's products include optical fiber, cable and hardware used in telecommunications networks; cover glass and other components for mobile devices, laptops and other electronics; display glass for televisions and computer monitors; emissions-control products for automobiles and trucks; laboratory vessels and equipment; and specialty glass and ceramic products for industrial, semiconductor and aerospace applications.

The company serves customers worldwide through manufacturing, research and commercial operations across North America, Europe and Asia.

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