Conning Inc. Lowers Stock Position in Corning Incorporated $GLW

Key Points

• Conning Inc. reduced its Corning stake by 23.3% in the first quarter, selling 84,816 shares and leaving it with 279,849 shares valued at about $38.1 million.
• Corning continues to benefit from AI-related demand, highlighted by a major multibillion-dollar Amazon agreement to expand U.S. optical fiber production and a partnership with Nvidia to boost domestic manufacturing for advanced optical solutions.
• The company posted solid quarterly results and raised guidance, with Q1 EPS of $0.70 topping estimates and revenue of $4.34 billion, while also announcing a quarterly dividend of $0.28 per share.

Conning Inc. lowered its holdings in shares of Corning Incorporated (NYSE:GLW - Free Report) by 23.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 279,849 shares of the electronics maker's stock after selling 84,816 shares during the period. Corning makes up 1.3% of Conning Inc.'s investment portfolio, making the stock its 11th largest holding. Conning Inc.'s holdings in Corning were worth $38,051,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC increased its holdings in shares of Corning by 46.0% in the 4th quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker's stock worth $319,000 after purchasing an additional 2,114 shares in the last quarter. Retirement Planning Co of New England Inc. purchased a new stake in shares of Corning during the first quarter valued at $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Corning by 9.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker's stock valued at $2,962,000 after buying an additional 5,522 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in Corning in the 2nd quarter worth about $401,000. Finally, Schnieders Capital Management LLC. purchased a new position in Corning in the 2nd quarter worth about $266,000. Hedge funds and other institutional investors own 69.80% of the company's stock.

Corning Price Performance

NYSE:GLW opened at $191.12 on Friday. The business's 50-day simple moving average is $193.19 and its two-hundred day simple moving average is $149.96. Corning Incorporated has a 52 week low of $51.32 and a 52 week high of $271.78. The stock has a market cap of $164.49 billion, a PE ratio of 91.45, a P/E/G ratio of 2.52 and a beta of 1.09. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.69 by $0.01. The business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The company's revenue was up 18.1% on a year-over-year basis. During the same period last year, the firm posted $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, analysts forecast that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be issued a $0.28 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.6%. Corning's dividend payout ratio (DPR) is presently 53.59%.

Corning News Roundup

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning landed a major multibillion-dollar agreement with Amazon to expand U.S. optical fiber production for AI data centers, and it is also partnering with Nvidia to grow domestic manufacturing capacity for advanced optical solutions. The deals reinforce Corning’s position as a key supplier in AI infrastructure. Corning (GLW) Lands Amazon Deal And Nvidia Tie Up For AI Fiber Expansion
• Positive Sentiment: Recent bullish commentary says Corning’s fundamentals remain strong, citing 18% core sales growth and 30% core EPS growth in Q1, along with momentum in Optical Communications and its Solar segment. Analysts are pointing to AI-driven fiber demand as a potential catalyst for further earnings growth. Corning: AI Partnerships Mounting, Making The 30% Plunge Buyable
• Neutral Sentiment: Market-moving articles from Barron’s also flagged Corning as one of the notable stocks in the day’s AI-driven market move, reflecting renewed investor attention rather than a company-specific earnings surprise. Stock movers article
• Neutral Sentiment: One bearish note argues that Corning may not be cheap enough after the recent pullback, suggesting valuation remains a concern even with improving growth prospects. Corning: 30 Percent Cheaper Is Not Good Enough
• Negative Sentiment: Another valuation-focused article describes Corning as having “strong fundamentals” but an “unverifiable multiple,” reinforcing concerns that the stock’s premium could limit upside if AI growth fails to accelerate further. Corning: Strong Fundamentals Wrapped In An Unverifiable Multiple

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GLW. Susquehanna increased their price objective on shares of Corning from $125.00 to $180.00 and gave the company a "positive" rating in a research report on Wednesday, April 29th. Mizuho boosted their target price on shares of Corning from $220.00 to $270.00 and gave the company an "outperform" rating in a research note on Wednesday, July 1st. UBS Group set a $243.00 price target on Corning in a report on Monday. Truist Financial lifted their price objective on Corning from $149.00 to $205.00 and gave the stock a "hold" rating in a report on Monday, June 22nd. Finally, Zacks Research cut Corning from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 26th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Corning currently has an average rating of "Moderate Buy" and a consensus target price of $193.54.

Insider Buying and Selling

In related news, VP John Z. Zhang sold 10,000 shares of the company's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the transaction, the vice president directly owned 5,138 shares in the company, valued at approximately $1,019,070.92. This represents a 66.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Wendell P. Weeks sold 100,000 shares of the business's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total value of $18,646,000.00. Following the transaction, the chief executive officer owned 908,353 shares of the company's stock, valued at approximately $169,371,500.38. The trade was a 9.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 160,655 shares of company stock valued at $30,692,560 in the last quarter. 0.25% of the stock is currently owned by insiders.

Corning 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.