Corning Incorporated $GLW Holdings Decreased by Cookson Peirce & Co. Inc.

Cookson Peirce & Co. Inc. trimmed its holdings in shares of Corning Incorporated (NYSE:GLW - Free Report) by 6.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 879,037 shares of the electronics maker's stock after selling 60,328 shares during the period. Corning makes up about 7.4% of Cookson Peirce & Co. Inc.'s holdings, making the stock its biggest position. Cookson Peirce & Co. Inc. owned approximately 0.10% of Corning worth $224,532,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Berbice Capital Management LLC purchased a new stake in shares of Corning in the fourth quarter worth approximately $26,000. Basepoint Wealth LLC purchased a new position in Corning during the fourth quarter valued at approximately $26,000. Atwood & Palmer Inc. purchased a new position in Corning during the second quarter valued at approximately $26,000. Kemnay Advisory Services Inc. acquired a new position in Corning in the 4th quarter valued at approximately $27,000. Finally, Litman Gregory Wealth Management LLC acquired a new position in Corning in the 4th quarter valued at approximately $31,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the company's stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the completion of the sale, the chief executive officer directly owned 908,353 shares in the company, valued at $169,371,500.38. This represents a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.25% of the company's stock.

Corning Stock Performance

Shares of NYSE GLW opened at $148.87 on Friday. The business's 50-day simple moving average is $171.18 and its 200-day simple moving average is $164.60. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. Corning Incorporated has a 52 week low of $66.14 and a 52 week high of $271.78. The firm has a market cap of $128.23 billion, a price-to-earnings ratio of 67.98, a P/E/G ratio of 1.91 and a beta of 1.14.

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

Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, August 31st. Corning's dividend payout ratio is currently 51.14%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on GLW shares. Weiss Ratings lowered shares of Corning from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, August 21st. Mizuho dropped their price target on shares of Corning from $270.00 to $210.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 29th. Citigroup cut their price objective on Corning from $240.00 to $220.00 and set a "buy" rating for the company in a report on Wednesday, July 29th. Zacks Research cut Corning from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 26th. Finally, JPMorgan Chase & Co. lowered their target price on Corning from $200.00 to $170.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 29th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Corning currently has an average rating of "Moderate Buy" and an average target price of $174.08.

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.

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