Corning Incorporated $GLW is Randolph Co Inc's 3rd Largest Position

Key Points

• Randolph Co Inc slightly reduced its Corning stake by 0.7% in the fourth quarter but still held 769,763 shares, making Corning its third-largest position and 6.5% of its portfolio.
• Corning reported better-than-expected quarterly results, earning $0.70 per share on revenue of $4.35 billion, while revenue rose 18.1% year over year. The company also raised its Q2 2026 EPS guidance to $0.73-$0.77.
• The company declared a quarterly dividend of $0.28 per share, payable June 29, and analysts remain cautiously positive, with a consensus rating of Moderate Buy and an average price target of $177.92.

Randolph Co Inc trimmed its stake in shares of Corning Incorporated (NYSE:GLW - Free Report) by 0.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 769,763 shares of the electronics maker's stock after selling 5,484 shares during the period. Corning makes up 6.5% of Randolph Co Inc's investment portfolio, making the stock its 3rd largest holding. Randolph Co Inc owned 0.09% of Corning worth $67,400,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Berbice Capital Management LLC purchased a new position in shares of Corning during the fourth quarter valued at approximately $26,000. Basepoint Wealth LLC purchased a new position in shares of Corning during the fourth quarter valued at approximately $26,000. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in shares of Corning during the third quarter valued at approximately $25,000. Cornerstone Planning Group LLC raised its holdings 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 purchasing an additional 124 shares during the last quarter. Finally, Evolution Wealth Management Inc. grew its position in Corning by 58.8% during the fourth quarter. Evolution Wealth Management Inc. now owns 381 shares of the electronics maker's stock valued at $33,000 after buying an additional 141 shares during the period. 69.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP John Z. Zhang sold 10,000 shares of the business's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $198.34, for a total value of $1,983,400.00. Following the transaction, the vice president owned 5,138 shares of the company's stock, valued at approximately $1,019,070.92. The trade was a 66.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jaymin Amin sold 27,395 shares of the business's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the completion of the transaction, the senior vice president directly owned 94,400 shares in the company, valued at $18,138,016. This trade represents a 22.49% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, 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 Stock Performance

GLW opened at $198.24 on Friday. The firm has a market cap of $170.61 billion, a P/E ratio of 94.85, a PEG ratio of 2.87 and a beta of 1.15. Corning Incorporated has a 1-year low of $49.47 and a 1-year high of $211.79. The company has a 50 day simple moving average of $172.37 and a two-hundred day simple moving average of $129.93. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06.

Corning (NYSE:GLW - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.69 by $0.01. The business had revenue of $4.35 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 in the prior year, the business posted $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Equities analysts forecast that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Announces Dividend

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

Analysts Set New Price Targets

GLW has been the subject of several recent research reports. UBS Group boosted their target price on shares of Corning from $179.00 to $223.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. Barclays boosted their target price on shares of Corning from $149.00 to $180.00 and gave the company an "equal weight" rating in a research report on Friday, May 8th. Truist Financial boosted their target price on shares of Corning from $125.00 to $149.00 and gave the company a "hold" rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. boosted their target price on shares of Corning from $175.00 to $185.00 and gave the company a "neutral" rating in a research report on Thursday, May 7th. Finally, Morgan Stanley set a $180.00 target price on shares of Corning in a research report on Friday, May 8th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Corning has a consensus rating of "Moderate Buy" and an average target price of $177.92.

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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