Community Bank N.A. Sells 25,864 Shares of Corning Incorporated $GLW

Key Points

• Community Bank N.A. reduced its Corning stake by 28.8% in the fourth quarter, selling 25,864 shares and ending with 64,054 shares worth about $5.61 million.
• Corning continues to attract bullish analyst attention, with firms including Mizuho and UBS raising price targets and the stock now carrying a consensus Moderate Buy rating.
• The company reported solid quarterly results and provided upbeat guidance, beating EPS and revenue estimates, while also announcing a quarterly dividend of $0.28 per share payable June 29.

Community Bank N.A. cut its position in Corning Incorporated (NYSE:GLW - Free Report) by 28.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 64,054 shares of the electronics maker's stock after selling 25,864 shares during the period. Community Bank N.A.'s holdings in Corning were worth $5,609,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GLW. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in Corning during the 3rd quarter valued at $25,000. Strengthening Families & Communities LLC bought a new position in shares of Corning during the third quarter valued at $27,000. Cornerstone Planning Group LLC boosted its position in shares of Corning by 58.5% during 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 during the last quarter. JPL Wealth Management LLC purchased a new stake in shares of Corning during the third quarter valued at $33,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in Corning in the 4th quarter worth about $35,000. Hedge funds and other institutional investors own 69.80% of the company's stock.

Corning News Summary

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning remains in focus as an AI data-center beneficiary, with articles highlighting strong demand for optical components, expanded U.S. manufacturing, and photonics growth plans tied to infrastructure spending. 3 Optical Component Giants in Focus on Massive AI Data Center Growth
• Positive Sentiment: Mizuho raised its price target on Corning and reiterated an outperform view, reinforcing expectations for further upside after the stock’s strong run.
• Positive Sentiment: Investor enthusiasm also increased around Corning’s recent AI momentum, including coverage noting a major Nvidia partnership and Bank of America’s addition of the stock to its “US 1 List.” Corning surges to record high: is the AI boom just beginning?
• Neutral Sentiment: Corning was also highlighted in a broader bullish piece on how to play the stock after its sharp year-to-date gain, but the article noted risks from competition and cyclical end markets. Corning Surges 137.4% Year to Date: How to Play the Stock
• Negative Sentiment: Three Corning executives disclosed stock sales on May 11, which can sometimes temper enthusiasm despite the broader bullish backdrop.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Fox Advisors cut shares of Corning from an "overweight" rating to an "equal weight" rating in a research note on Thursday, January 29th. Mizuho boosted their price objective on shares of Corning from $190.00 to $220.00 and gave the company an "outperform" rating in a report on Tuesday. Barclays increased their price objective on shares of Corning from $149.00 to $180.00 and gave the company an "equal weight" rating in a research report on Friday. Weiss Ratings upgraded shares of Corning from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, February 17th. Finally, UBS Group lifted their target price on shares of Corning from $179.00 to $223.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Corning presently has a consensus rating of "Moderate Buy" and a consensus price target of $177.92.

Insider Activity

In other Corning news, SVP Michaune D. Tillman sold 3,260 shares of the firm's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $207.02, for a total transaction of $674,885.20. Following the sale, the senior vice president directly owned 10,174 shares of the company's stock, valued at $2,106,221.48. This trade represents a 24.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Soumya Seetharam sold 20,000 shares of the business's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $206.23, for a total value 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. The trade was a 43.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 172,305 shares of company stock worth $28,353,207 in the last quarter. Corporate insiders own 0.25% of the company's stock.

Corning Trading Down 4.4%

Shares of NYSE:GLW opened at $198.23 on Wednesday. The stock has a 50 day moving average of $153.08 and a 200 day moving average of $117.47. The company has a market cap of $170.60 billion, a PE ratio of 94.85, a price-to-earnings-growth ratio of 2.97 and a beta of 1.14. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. Corning Incorporated has a 12-month low of $46.77 and a 12-month high of $208.92.

Corning (NYSE:GLW - Get Free Report) last released 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. Corning had a net margin of 11.09% and a return on equity of 19.45%. The company had revenue of $4.35 billion for the quarter, compared to analysts' expectations of $4.30 billion. During the same quarter last year, the business earned $0.54 EPS. The firm's revenue was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, equities research analysts expect that Corning Incorporated will post 3.19 EPS for the current year.

Corning Announces Dividend

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

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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