Coldstream Capital Management Inc. Sells 10,046 Shares of Corning Incorporated $GLW

Key Points

• Coldstream Capital Management reduced its Corning stake by 33.9% in the fourth quarter, selling 10,046 shares and leaving it with 19,590 shares valued at about $1.72 million.
• Corning reported strong quarterly results, with EPS of $0.70 and revenue of $4.35 billion, both slightly ahead of Wall Street estimates, while revenue rose 18.1% year over year.
• The company also announced a quarterly dividend of $0.28 per share, and analysts remain mostly positive, with a consensus rating of Moderate Buy and an average price target of $177.92.

Coldstream Capital Management Inc. cut its holdings in Corning Incorporated (NYSE:GLW - Free Report) by 33.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,590 shares of the electronics maker's stock after selling 10,046 shares during the period. Coldstream Capital Management Inc.'s holdings in Corning were worth $1,715,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in GLW. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in shares of Corning in the 3rd quarter worth about $25,000. Berbice Capital Management LLC bought a new stake in shares of Corning in the 4th quarter worth about $26,000. Strengthening Families & Communities LLC bought a new stake in shares of Corning in the 3rd quarter worth about $27,000. Cornerstone Planning Group LLC increased its holdings in shares of Corning by 58.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker's stock worth $30,000 after buying an additional 124 shares during the last quarter. Finally, JPL Wealth Management LLC bought a new stake in shares of Corning in the 3rd quarter worth about $33,000. 69.80% of the stock is currently owned by institutional investors.

Corning Stock Performance

Shares of NYSE:GLW opened at $193.83 on Tuesday. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $166.82 billion, a price-to-earnings ratio of 92.74, a PEG ratio of 2.78 and a beta of 1.14. The firm's 50-day moving average is $162.85 and its 200 day moving average is $124.03. Corning Incorporated has a 12 month low of $47.67 and a 12 month high of $211.79.

Corning (NYSE:GLW - Get Free Report) last issued its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.69 by $0.01. The business had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The company's revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Research analysts predict that Corning Incorporated will post 3.19 EPS for the current year.

Corning Announces Dividend

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

Wall Street Analysts Forecast Growth

GLW has been the topic of a number of research reports. Fox Advisors downgraded shares of Corning from an "overweight" rating to an "equal weight" rating in a report on Thursday, January 29th. Weiss Ratings restated a "buy (b-)" rating on shares of Corning in a report on Friday, May 15th. Barclays boosted their target price on shares of Corning from $149.00 to $180.00 and gave the stock an "equal weight" rating in a report on Friday, May 8th. Oppenheimer boosted their target price on shares of Corning from $120.00 to $210.00 and gave the stock an "outperform" rating in a report on Thursday, May 7th. Finally, UBS Group boosted their target price on shares of Corning from $179.00 to $223.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $177.92.

Insider Activity at Corning

In other Corning news, SVP Michaune D. Tillman sold 3,260 shares of the company's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the transaction, the senior vice president directly owned 10,174 shares in the company, valued at $2,106,221.48. This represents a 24.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Soumya Seetharam sold 20,000 shares of the company's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the completion of the transaction, the senior vice president owned 25,570 shares in the company, valued at $5,273,301.10. This represents a 43.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 170,774 shares of company stock valued at $28,148,435 over the last 90 days. 0.25% of the stock is currently owned by insiders.

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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