Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 5,714 Shares of Corning Incorporated $GLW

Key Points

• Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its Corning stake by 3.1% in the fourth quarter, selling 5,714 shares and ending with 181,478 shares valued at about $15.89 million.
• Several analysts raised price targets on Corning, with the consensus rating at Moderate Buy and an average target price of $177.92.
• Corning reported better-than-expected quarterly results, posting $0.70 EPS on $4.35 billion in revenue, and it also announced a quarterly dividend of $0.28 per share.

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its holdings in Corning Incorporated (NYSE:GLW - Free Report) by 3.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 181,478 shares of the electronics maker's stock after selling 5,714 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in Corning were worth $15,890,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in shares of Corning in the 3rd quarter valued at about $25,000. Berbice Capital Management LLC purchased a new stake in shares of Corning in the 4th quarter valued at about $26,000. Basepoint Wealth LLC purchased a new stake in shares of Corning in the 4th quarter valued at about $26,000. Strengthening Families & Communities LLC purchased a new stake in shares of Corning in the 3rd quarter valued at about $27,000. Finally, Cornerstone Planning Group LLC raised 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 valued at $30,000 after acquiring an additional 124 shares in the last quarter. Hedge funds and other institutional investors own 69.80% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on GLW. JPMorgan Chase & Co. raised their price target on Corning from $175.00 to $185.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. Barclays raised their price target on Corning from $149.00 to $180.00 and gave the company an "equal weight" rating in a report on Friday, May 8th. Truist Financial raised their price target on Corning from $125.00 to $149.00 and gave the company a "hold" rating in a report on Wednesday, April 29th. UBS Group raised their price objective on Corning from $179.00 to $223.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Finally, Susquehanna raised their price objective on Corning from $125.00 to $180.00 and gave the company a "positive" rating in a report on Wednesday, April 29th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $177.92.

Insider Transactions at Corning

In related news, VP John Z. Zhang sold 10,000 shares of Corning stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the sale, the vice president directly owned 5,138 shares in the company, valued at $1,019,070.92. The trade was a 66.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Jaymin Amin sold 27,395 shares of Corning stock in a transaction that occurred on 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 sale, the senior vice president owned 94,400 shares in the company, valued at $18,138,016. This represents a 22.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 60,655 shares of company stock valued at $12,046,561. Company insiders own 0.25% of the company's stock.

Corning Price Performance

Shares of GLW stock opened at $181.37 on Monday. The firm has a market cap of $156.09 billion, a P/E ratio of 86.78, a P/E/G ratio of 2.59 and a beta of 1.15. Corning Incorporated has a fifty-two week low of $48.88 and a fifty-two week high of $211.79. The business's 50 day moving average price is $167.47 and its 200-day moving average price is $126.87. 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 results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The company had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same period in the previous year, the company posted $0.54 earnings per share. The firm's revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities research analysts anticipate that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Announces Dividend

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

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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