Corning Incorporated $GLW Position Lowered by Hartline Investment Corp

Key Points

• Hartline Investment Corp trimmed its Corning stake by 2.2% in the fourth quarter, though the fund still held 288,783 shares valued at about $25.3 million, making GLW its 10th-largest position.
• Insiders sold shares over the past 90 days, including SVP Michaune D. Tillman and CEO Wendell P. Weeks, with total insider sales reaching 170,774 shares worth about $28.1 million.
• Corning beat earnings and revenue expectations in its latest quarter, reporting $0.70 EPS on $4.35 billion in revenue, and analysts now have a consensus Moderate Buy rating with a price target of $177.92.

Hartline Investment Corp cut its position in Corning Incorporated (NYSE:GLW - Free Report) by 2.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 288,783 shares of the electronics maker's stock after selling 6,579 shares during the period. Corning accounts for 2.7% of Hartline Investment Corp's investment portfolio, making the stock its 10th largest holding. Hartline Investment Corp's holdings in Corning were worth $25,286,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GLW. Brighton Jones LLC increased its position 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 valued at $319,000 after purchasing an additional 2,114 shares during the last quarter. Retirement Planning Co of New England Inc. purchased a new position in shares of Corning in the 1st quarter valued at $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Corning by 9.3% in the 1st 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 purchased a new position in shares of Corning in the 2nd quarter valued at $401,000. Finally, Schnieders Capital Management LLC. purchased a new position in shares of Corning in the 2nd quarter valued at $266,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Corning news, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $207.02, for a total value of $674,885.20. Following the sale, the senior vice president owned 10,174 shares of the company's stock, valued at approximately $2,106,221.48. The trade was a 24.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Wendell P. Weeks sold 137,514 shares of Corning stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $155.37, for a total value of $21,365,550.18. Following the completion of the sale, the chief executive officer directly owned 750,585 shares in the company, valued at $116,618,391.45. This represents a 15.48% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 170,774 shares of company stock valued at $28,148,435. Company insiders own 0.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Zacks Research raised shares of Corning from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 27th. Weiss Ratings reissued a "buy (b-)" rating on shares of Corning in a research report on Friday, May 15th. Truist Financial raised their price objective on shares of Corning from $125.00 to $149.00 and gave the stock a "hold" rating in a research report on Wednesday, April 29th. Susquehanna raised their price objective on shares of Corning from $125.00 to $180.00 and gave the stock a "positive" rating in a research report on Wednesday, April 29th. Finally, Bank of America raised their price objective on shares of Corning from $155.00 to $186.00 and gave the stock a "buy" rating in a research report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $177.92.

Corning Trading Up 1.0%

Shares of Corning stock opened at $193.83 on Friday. Corning Incorporated has a 1 year low of $47.67 and a 1 year high of $211.79. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. The company has a market capitalization of $166.82 billion, a P/E ratio of 92.74, a PEG ratio of 2.78 and a beta of 1.14. The company's fifty day moving average is $161.56 and its two-hundred day moving average is $123.01.

Corning (NYSE:GLW - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $4.30 billion. During the same period last year, the firm posted $0.54 EPS. Corning's revenue for the quarter was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Analysts forecast that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, May 29th. Corning's dividend payout ratio is currently 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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