Corning Incorporated $GLW is Valley Wealth Managers Inc.'s 10th Largest Position

Key Points

• Valley Wealth Managers trimmed its Corning stake by 3.5% in the fourth quarter, but Corning remained its 10th-largest position at 365,354 shares valued at about $32 million.
• Insider selling has been notable, with executives including VP John Z. Zhang and COO Avery H. Nelson III selling shares; insiders have sold 140,628 shares worth $21.8 million over the past 90 days.
• Corning recently beat quarterly earnings expectations and raised guidance, while analysts remain generally constructive with a consensus rating of Moderate Buy and an average price target of $172.15.

Valley Wealth Managers Inc. cut its holdings in shares of Corning Incorporated (NYSE:GLW - Free Report) by 3.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 365,354 shares of the electronics maker's stock after selling 13,166 shares during the period. Corning accounts for 2.0% of Valley Wealth Managers Inc.'s portfolio, making the stock its 10th biggest position. Valley Wealth Managers Inc.'s holdings in Corning were worth $31,990,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in Corning during the third quarter worth about $25,000. Strengthening Families & Communities LLC purchased a new stake in Corning during the third quarter valued at approximately $27,000. Cornerstone Planning Group LLC increased its holdings in 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 in the third quarter worth $33,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Corning in the fourth quarter worth $35,000. Institutional investors own 69.80% of the company's stock.

Insider Activity

In other news, VP John Z. Zhang sold 1,531 shares of the company's stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $133.75, for a total value of $204,771.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Avery H. Nelson III sold 1,583 shares of the company's stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $128.74, for a total transaction of $203,795.42. Following the completion of the sale, the chief operating officer directly owned 59,788 shares in the company, valued at $7,697,107.12. This trade represents a 2.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 140,628 shares of company stock valued at $21,774,117 in the last ninety days. Insiders own 0.25% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. HSBC reaffirmed a "buy" rating and set a $135.00 target price on shares of Corning in a research note on Friday, February 13th. Wall Street Zen cut Corning from a "buy" rating to a "hold" rating in a research note on Saturday. Fox Advisors lowered shares of Corning from an "overweight" rating to an "equal weight" rating in a report on Thursday, January 29th. Morgan Stanley set a $180.00 price target on shares of Corning in a report on Friday. Finally, Weiss Ratings upgraded shares of Corning from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $172.15.

Corning Stock Up 10.7%

NYSE:GLW opened at $206.99 on Tuesday. The company has a market cap of $178.14 billion, a PE ratio of 99.04, a P/E/G ratio of 2.68 and a beta of 1.14. Corning Incorporated has a twelve month low of $46.34 and a twelve month high of $208.92. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. The company's 50 day moving average is $152.13 and its two-hundred day moving average is $116.67.

Corning (NYSE:GLW - Get Free Report) last released its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.01. The company had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. Corning's revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Analysts anticipate that Corning Incorporated will post 3.19 EPS for the current year.

Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, May 29th. Corning's dividend payout ratio is 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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