Corning Incorporated $GLW Shares Sold by Jefferies Financial Group Inc.

Key Points

• Jefferies Financial Group cut its Corning stake by 90.1% in the fourth quarter, selling 29,019 shares and ending with just 3,193 shares valued at about $280,000.
• Insider selling has also been notable, with SVP Jaymin Amin and SVP Michaune D. Tillman both trimming their holdings; insiders sold 60,655 shares worth about $12.0 million over the last 90 days.
• Wall Street remains upbeat on Corning, with several analysts raising price targets and the stock receiving a consensus “Moderate Buy” rating with an average target price of $177.92, while the company also topped quarterly EPS and revenue estimates.

Jefferies Financial Group Inc. lessened its stake in shares of Corning Incorporated (NYSE:GLW - Free Report) by 90.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,193 shares of the electronics maker's stock after selling 29,019 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Corning were worth $280,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Capital Research Global Investors acquired a new position in shares of Corning in the third quarter worth about $907,164,000. WCM Investment Management LLC acquired a new position in shares of Corning in the third quarter worth about $676,931,000. Wellington Management Group LLP lifted its stake in shares of Corning by 30.3% in the third quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker's stock worth $1,358,211,000 after acquiring an additional 3,848,540 shares in the last quarter. Polar Capital Holdings Plc lifted its stake in shares of Corning by 141.2% in the third quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker's stock worth $329,035,000 after acquiring an additional 2,348,125 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Corning in the third quarter worth about $185,221,000. Institutional investors and hedge funds own 69.80% of the company's stock.

Insiders Place Their Bets

In related news, SVP Jaymin Amin sold 27,395 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $192.14, for a total value of $5,263,675.30. Following the completion of the transaction, the senior vice president directly owned 94,400 shares of the company's stock, valued at $18,138,016. This represents a 22.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Michaune D. Tillman sold 3,260 shares of the 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 completion of the transaction, the senior vice president directly owned 10,174 shares of the company's stock, valued at $2,106,221.48. This trade represents a 24.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 60,655 shares of company stock valued at $12,046,561. 0.25% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GLW. Oppenheimer boosted their price target on Corning from $120.00 to $210.00 and gave the stock an "outperform" rating in a research note on Thursday, May 7th. Mizuho boosted their price target on Corning from $190.00 to $220.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 12th. HSBC reiterated a "buy" rating and issued a $135.00 price target on shares of Corning in a research note on Friday, February 13th. Wall Street Zen upgraded Corning from a "hold" rating to a "buy" rating in a research note on Sunday, May 17th. Finally, Susquehanna boosted their price target on Corning from $125.00 to $180.00 and gave the stock a "positive" rating in a research note on Wednesday, April 29th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $177.92.

Corning Stock Up 0.1%

NYSE:GLW opened at $181.37 on Monday. The firm has a market capitalization of $156.09 billion, a PE ratio of 86.78, a price-to-earnings-growth ratio of 2.59 and a beta of 1.15. The stock has a 50 day moving average of $167.47 and a 200-day moving average of $126.87. Corning Incorporated has a 52 week low of $48.88 and a 52 week high of $211.79. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62.

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 analysts' consensus estimates of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The business had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same period in the prior year, the company posted $0.54 EPS. The business's revenue for the quarter was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Analysts predict that Corning Incorporated will post 3.19 EPS for the current year.

Corning Dividend Announcement

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

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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